Green Options » Securities and Exchange Commission http://greenoptions.com/tag/securities-and-exchange-commission Posts tagged 'Securities and Exchange Commission' Mon, 22 Sep 2008 20:21:40 +0000 http://wordpress.org/?v=2.5.1 en Death of Wall Street, Rise of Main Street http://inspiredeconomist.com/2008/09/22/death-of-wall-street-rise-of-main-street/ http://inspiredeconomist.com/2008/09/22/death-of-wall-street-rise-of-main-street/#comments Mon, 22 Sep 2008 20:21:40 +0000 Reenita Malhotra http://inspiredeconomist.com/2008/09/22/death-of-wall-street-rise-of-main-street/ Morgan Stanley

The beginnings of another new economy are taking shape as Morgan Stanley and Goldman Sachs prepare to close the curtain on investment banking.

Mitsubishi UFJ Financial Group Inc., Japan’s largest bank, will inject 900 billion yen ($8.4 billion) into Morgan Stanley to help it transition to a bank holding company. Goldman Sach’s strategy is slightly different albeit with the same ultimate objective i.e. to become a commercial bank. According to Bloomberg, Goldman already has in excess of $20 billion in customer deposits in two subsidiaries and is creating a new one, GS Bank USA, that will have more than $150 billion of assets, making it one of the 10 largest banks in the U.S.

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