The end of the traditional investment banking model |
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- Fed to increase liquidity support to Goldman, Merrill and Morgan Stanley: The Fed approved Goldman and Morgan Stanley requests to become bank holding companies, a move that ends the traditional investment banking model. "The move, which will enable the firms to take deposits and buy retail banks more easily in the latest government step to restore calm to chaotic financial markets, puts the last two major U.S. investment banks squarely within the government safety net," wrote The Guardian
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