Matt Levine, Columnist

Consumer Banking and Orange Juice

Also Herbalife, IPOs, teens, pacemaker murder, and newly chastened unicorns.

August 29, 2016 at 1:15 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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Boring banking.

For all the talk about bringing back the Glass-Steagall Act that used to separate investment banking from consumer and commercial banking, one of the big stories in modern U.S. financial regulation is the push for big investment banks to build up their consumer-banking business. That's what Goldman Sachs and Morgan Stanley are doing: