With Lehman Brothers filing for bankruptcy and MER selling itself to BankofAmerica. What does this mean for the two remaining Independent large brokerage firms on Wall Street.
We're talking about Goldman Sachs and Morgan Stanley in San Francisco, my name's Al Sabah with the MarketWatch.
People expect Morgan Stanley and Goldman Sachs to possibly tie up with a larger commercial bank These types of commercial banks have customer deposits that is a lot more stable and funding in private markets that the life of Goldman and Morgan Stganly have to rely on. And (people ) are thinking may be Morgan Stanley will sell itself to a commercial bank. Goldman Sachs has performed a little bit better than a lot of the other brokerage firms so their destiny may be in hands that they may be able to acquire another commercial bank and add deposits that way.
But most people in the market say that the investment banking model may be broken and may have changed forever.
We're talking about Goldman Sachs and Morgan Stanley in San Francisco, my name's Al Sabah with the MarketWatch.
People expect Morgan Stanley and Goldman Sachs to possibly tie up with a larger commercial bank These types of commercial banks have customer deposits that is a lot more stable and funding in private markets that the life of Goldman and Morgan Stganly have to rely on. And (people ) are thinking may be Morgan Stanley will sell itself to a commercial bank. Goldman Sachs has performed a little bit better than a lot of the other brokerage firms so their destiny may be in hands that they may be able to acquire another commercial bank and add deposits that way.
But most people in the market say that the investment banking model may be broken and may have changed forever.