The end of Wall Street may mean less profit for Goldman, Morgan - MarketWatch. both applied to be banks on Sunday. So there’s literally no major brokerages left.
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this post was added on monday september 22nd 2008 around 12pm. it was added to the link category and was tagged: banking, economy, usa
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more accurately this is the end of the major independent investment bank - this is not the end of the “brokerage” or investment banking or any business either firm currently practices. as bank holding companies gs and ms will now be regulated by the fed and not the sec. in short this means that these firms trade the freedom to assume an arbitrary degree of risk for access to guaranteed liquidity. nonetheless in no way does this change of status limit the profit potential of either firm.