Matt Levine, Columnist

Trump Trades and Algorithm Power

Also bookies, movies, spoofers, Goldman partners, unicorn secession and extra-foam accounting.

November 10, 2016 at 2:32 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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One theme at Money Stuff recently has been that banking has gotten boring. This is of course by design: The general sense, after the financial crisis of 2008 and the subsequent Libor, etc., scandals, has been that the big banks were having a bit too much fun. Proprietary trading was banned, capital requirements were increased, funding was termed out, and you had the strange spectacle of Goldman Sachs Group Inc. announcing with great fanfare its entry into online retail banking. The hip new idea at the cutting edge of banking was to take deposits from customers and use those deposits to fund loans to other customers.