Sunday, September 21, 2008

Goldman, Morgan Convert

From Yahoo -- Last major investment banks change status :
"Investors feared that the last remaining independent investment banks would not be able to survive in their current form. There had been speculation that both institutions would be acquired by commercial banks, whose ability to take deposits would give them a stable source of funding."
What a great idea! Now you too can do your daily banking with the company that lost so much of their investors capital that they BROUGHT DOWN THE BANKING SYSTEM AND NEEDED A TRILLION DOLLAR BAILOUT!

Great idea, people will just run to deposit money in this bank.

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