Citigroup to Review Trading Policy After Goldman Move

The video discusses Goldman Sachs' decision to bar employees from trading individual stocks and bonds, prompted by the release of secret tapes by Carmen Segarra, a former bank examiner. These tapes highlighted conflicts of interest in Wall Street policies. The video explores the implications of these tapes, the subsequent policy revisions by banks like Citigroup, and the broader debate on conflict of interest policies. It also delves into the tension between economic opportunities for bankers and the need for strict policies to prevent conflicts of interest, especially in the wake of the financial crisis.

What prompted Goldman Sachs to review its conflict of interest policies?

• The release of the secret Goldman tapes

• A merger with another bank

• A new government regulation

• An internal audit

What was surprising about the conflict of interest policies at major banks?

• They were stricter than expected

• They were enforced by external auditors

• They were only applicable to junior employees

• They allowed bankers to trade individual stocks

How is working on Wall Street often perceived, according to the transcript?

• As a freelance opportunity

• As a lifelong commitment similar to a religious vocation

• As a temporary position

• As a casual job

What is the main purpose of having conflict of interest policies in banks?

• To increase employee salaries

• To prevent personal gain at the expense of the company or clients

• To allow more freedom in trading

• To reduce the number of employees

Why do banks need to rehabilitate their image post-financial crisis?

• To regain public trust and credibility

• To comply with new laws

• To attract more investors

• To expand into new markets