Federal Reserve Stress Tests Make Us All Muppets
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March 19 (Bloomberg) -- There was disheartening news lastweek regarding the way the U.S. financial system operates. I’mnot referring to the opinion piece by a departing Goldman SachsGroup Inc. employee, which suggested that the company has littlerespect for its customers.
If you have a complex derivatives transaction in place withGoldman -- or any other big Wall Street firm -- and you didn’tknow they thought of you as a malleable “muppet,” it may betime to replace your chief financial officer.