Wall Street Now Services Main Street

Day traders might appreciate high market volatility, but lending banks like the once proud Lehman Brothers and Merrill Lynch, who rely on successful short term funding to keep their banks solvent, do not. With the former heading into bankruptcy, and the latter being purchased by Bank of America, it became evident over the weekend that the Wall Street model could not sustain itself.And so it is, as reported in the WSJ, that Goldman Sachs and Morgan Stanley, two Wall Street financial heavyweights, have anno[...]

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[Source: The Money Blogs]