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.
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I.bank (20-25% speculative ROI/year)
C.bank (6-7% stable ROI/year) + Fed regulatory oversight.
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