Monday, September 22, 2008

Shift for Goldman and Morgan Marks the End of an Era -

Goldman Sachs and Morgan Stanley, the last big independent investment banks on Wall Street, will transform themselves into bank holding companies subject to far greater regulation, the Federal Reserve said Sunday night, a move that fundamentally reshapes an era of high finance that defined the modern Gilded Age.Skip to next paragraphEnlarge This ImageMichael Nagle/Bloomberg NewsA Morgan Stanley trading floor in 2003. Goldman Sachs and Morgan Stanley will become bank holding companies, which will be a turning point for the high-rolling culture of Wall Street.
Shift for Goldman and Morgan Marks the End of an Era -

So who are the girls in Sex in the City going to fuck now?

In 30 years time people may watch it and wonder what the firms these guys Carries, Witch number 1, 2, and 3 kept trying to fuck. Well there is the bartender guy who likely has the best earning potential right now.

In Wall Streek and the London City a nature of cooruption and arrogance emerged that is now ending. I can compare my experience working with City companies over local governments in the north of England. At their ends the entire Investment Banking culture had reached new hieghts of politicalness, fear, confusion and dishonesty. They had set a new standard for ineffiency and deception and now they are over.
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