NEWS

In an interview with CNBC, Austan Goolsbee, a member of the Council of Economic Advisers, said the Goldman Sachs case underscores the need to end conflicts of interest. “[T]o me, blanket bans on all short selling seems–seem like a bit of an overreaction,” he said.
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QUICK: Austan, the other big story that’s happening [...]

Short selling is a key focus of the Goldman Sachs hearing Tuesday on Capitol Hill. In a CNBC interview, James Chanos, chairman of the Coalition of Private Investment Companies, and Bill Ackman of Pershing Square Capital outlined why short selling benefits investors and improves the quality of capital markets.

President Obama’s speech calling on Wall Street to support financial reforms to prevent another crisis was a “great speech,” CPIC Chairman James Chanos said in a CNBC interview.
“There was a little bit of admonishment, but there was also the olive branch and a lot of common sense: ‘Let’s get this done.’ So [...]