Monday, September 22, 2008

No more I-Banks

"The Federal Reserve, in an attempt to prevent the crisis on Wall Street from infecting its two premier institutions, took the extraordinary measure on Sunday night of agreeing to convert investment banks Morgan Stanley and Goldman Sachs Inc. into traditional bank holding companies." - The Wall Street Journal

Now What?

1 comments:

Matt said...

Amazing...it's not quite telling West Point cadets that the Army no longer exists, but still...