The market's loss of confidence in the abilities of broker-dealers to stay independent marks a historic moment on Wall Street. The end of independence for its most storied names concluded Sunday night when Goldman Sachs and Morgan Stanley asked to be regulated like other banks (i.e. they'll need deposits to back lending).Requiem for Investment Banks - The Ticker (usnews.com)
Monday, September 22, 2008
Requiem for Investment Banks - The Ticker (usnews.com)
As a survivor of the Dot Com diaster a few years back I would just want to say to all those Wall Street Investment Bankers who said the Internet Industgry was hype, well where the fuck are you now? Your industry does not even exist anymore.
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Posted by Bob and Gail at 9:59 AM