> Won wrote: > Probably not. As far as I know, these are, or were, your vertically > integrated i-banks that offered, among other services, sales & trading
Yeah, "bulge bracket" is like Goldman Sachs, Morgan Stanley, et al We're likely going to see the worst recession in 50 years (thanks Bush!) and it's gonna suck. We BARELY dodged a global financial systemic implosion due to some fast action by the "group of seven", but we're far from out of the woods. Further - as much as Robert and Sam will deny it - this ain't and never was about mortgages. That was just one - ONE! - piece of credit. We've still got all kinds of credit that's about to go the same way and all sped up due to the tanking economy and mortgage cliff. So here's what's going to happen: * Business will continue to contract and lay people off, further tanking other businesses. * "Deleveraging" will continue meaning that the shadow banking system will be forced to sell their assets at fire sale prices. This will mean further price drops and will drive hedge funds and other financial players out of business. * Credit losses will be staggering. We'll likely see many emerging markets submerge. Here's today's analogy: Bush invited every 15 year old frat-boy wannabe to a big party and gave them unlimited kegs that we paid for and told us they'd pay us after the party. He told us we didn't have to worry about any problems because the 15 year olds promised to regulate themselves. Well ... not so much. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:286401 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
