Goldman, Morgan to Become Bank Holding Companies
Posted on September 21st, 2008 by MoverMike
The NY Times breaks the nees that Goldman Sachs and Morgan Stanley will no longer be investment banks, buy bank holding companies.
Being a bank holding company would give Morgan and Goldman access to the discount window of the Federal Reserve. While they have had access to Fed lending facilities in recent months, regulators had planned to take away discount window access in January.
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