According to reports by the Wall Street Journal, Goldman Sachs (NYSE: GS) has been lobbying against a particular part of the Volcker Rule that inhibits its "credit funds" business. Credit funds are similar to private equity, but on the debt financing side, and Goldman wants an exemption on these. If the bank's lobbying attempts fail, then expect it to turn to a loophole in the law's definition of hedge funds and private equity, which exempts ones that are "making small loans, industrial banking, or similar businesses or investing in real estate, oil, gas or mining." In the video above, Fool.com analyst Anand Chokkavelu provides the full story and offers his take on the matter.
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