Giant Investment Banks Grasp for Government Safety Net
source: http://www.washingtonpost.com/wp-dyn/content/article/2008/09/21/AR2008092102340.html?wpisrc=...
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- starr111
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The Federal Reserve approved the conversion last night of the two remaining investment titans on Wall Street, Goldman Sachs and Morgan Stanley, into bank holding companies, offering them broader government protection in exchange for tighter regulation and constraints on their once fabulously profitable business.
