Two largest investment banks (GS and MS), the last of the big 5 ibanks (GS, MS, LEH, MER, BSC), decided to restructure it selves into commercial banks. Need liquidity.
Link:
Market Place: Last 2 investment banks throw in towel
NY Times: Starting a New Era at Goldman and Morgan
Looks like we are alone.
Relevant news:
NY Times: Europe and Japan Balk at U.S. Request on Bank Aid
Russia (Putin) won't deal with lame ducks.
The middle-easterners were burned when they bought the shares of banks last March.
It is all quiet at China's front.
Monday, September 22, 2008
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