The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken. The last two largest investment banks have decided to remove their investment status to receive Federal Reserve approval to become bank holding companies. They will now be able to be protected by the Federal Deposit Insurance Corp (FDIC) deposit insurance.
Morgan Stanley, Goldman Sachs abandon investment bank status
http://www.bizjournals.com/sanjose/stories/2008/09/22/daily1.html
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Google url shortener service, goo.gl , is now much improved with newly included features like easier copy and paste, and ability to delete e...
-
I would like to apologize that sigining of my guestbook is not possible at the moment due to an unexpected bug. There is already 74 entries ...
-
Get accurate and real-time bus arrival information for public bus operators in Singapore, including SBS Transit, SMRT Buses, Go-Ahead Singap...
-
Installed FortiClient recently but the challenge in disabling the application/service from running automatically on every start-up annoyed m...
-
*********** Try to sleep now, close your eyes Soon the birds would stop singing Twinkling stars, are shining bright They'll be watch...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.