Goldman Sachs and Morgan Stanley’s Shift

22 09 2008

Wow, this news very much surprises me. Apparently Goldman Sachs and Morgan Stanley will transform itself into bank holding companies. Sure, this would mean a lot more regulation than both companies usually have. But I guess you have to adapt yourself in order to survive or face your doom. Looks like this whole credit crisis is actually chaning what we used to know about Wall Street. Check out the article from New York Times.

Morgan Stanley

Morgan Stanley

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