Tuesday, September 23, 2008

Goldman Sachs, Morgan Stanley Accepting Deposits

Goldman Sachs (GS) and Morgan Stanley (MS) have shifted from pure investment banking, and now seek traditional deposits. In a sense it is news as this marks an end to investment banking on Wall Street. This article suggests they will be buying deposits from banks taken over by the FDIC.

1 comment:

East.Bay.Miser said...

I.bank (20-25% speculative ROI/year)

C.bank (6-7% stable ROI/year) + Fed regulatory oversight.