Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (12285)	9/18/2008 8:01:24 PM
From: Eric P	Read Replies (1) \| Respond to of 12617

I agree. Similarly, I think the heyday of the hedge funds has crested and is now heading down as well. They are another example of a business model that makes much less sense going forward, IMO.

To: TFF who wrote (12285)	9/21/2008 11:21:09 PM
From: TFF	Respond to of 12617

Fed Allows Goldman, Morgan Stanley to Become Banks By Craig Torres Sept. 21 (Bloomberg) -- The Federal Reserve Board approved the applications of Morgan Stanley and Goldman Sachs Group Inc. to become bank holding companies, the Fed said. ``The Federal Reserve Board on Sunday approved, pending a statutory five-day antitrust waiting period, the applications of Goldman Sachs and Morgan Stanley to become bank holding companies,'' the central bank said in an e-mailed press release in Washington. Fed officials also increased the two securities firms' ability to take out direct loans from the central bank, granting access against a wider pool of collateral. That step was made ``to provide increased liquidity support to these firms as they transition to managing their funding within a bank holding company structure,'' the Fed said. The Fed Board also authorized the New York Fed to lend to the London-based broker-dealer subsidiaries of Morgan Stanley, Goldman Sachs, and Merrill Lynch & Co., the securities firm that agreed to a takeover by Bank of America Corp. earlier this month. ---------------------------------------------- The Federal Reserve said it had approved the transformation of both Morgan Stanley and Goldman Sachs from investment banks to traditional bank holding companies, a step that would place the last two Wall Street titans under the close supervision of national bank regulators, subjecting them to new capital requirements and additional oversight. The Fed said it would also extend additional lending to the broker-dealers of the two firms, in addition to Merrill Lynch's, as they make the transition. The steps effectively mark the end of Wall Street as it has been known for decades, and formalizes a quid-pro-quo that regulators have warned about in the months after Bear Stearns's near collapse -- in return for access to the Fed's emergency lending facilities, the firms would need to subject themselves to more oversight. The step could have far reaching effects on their profitability and their business models. online.wsj.com