Monday, September 22, 2008

New York/London


Morgan Stanley • London trading floor (4x5 film)
© Brian Rose

Goldman Sachs and Morgan Stanley, the last big independent investment banks on Wall Street, will transform themselves into bank holding companies subject to far greater regulation, the Federal Reserve said Sunday night, a move that fundamentally reshapes an era of high finance that defined the modern Gilded Age.

The New York Times

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