Goldman Needs Volcker Delay to Avoid Private-Equity Losses
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Goldman Sachs Group Inc. has $7 billion invested in private equity that it might have to sell at a loss. For Morgan Stanley, it’s $2.5 billion.
The big sums explain why Wall Street has been lobbying regulators to delay a July deadline for complying with the Volcker Rule, which restricts banks from investing in private equity as part of a ban on making market bets with their own capital.