Cassidy: Hard for Goldman to Replicate 2Q Results

The video discusses the performance of major Wall Street banks, focusing on trading and fixed income trading. It highlights the impact of the Brexit vote on trading volumes and volatility, and how banks like Goldman Sachs are adapting by reducing expenses and legal costs. The discussion also covers the challenges banks face in achieving a return on equity above their cost of capital due to high regulatory capital levels. The future outlook for banks depends on improved business performance and cost management.

Discuss the significance of legal costs falling for Goldman Sachs and its potential future impact.

What challenges do banks face in achieving returns above their cost of capital as mentioned in the text?