Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Sunday, September 21, 2008

MS and GS become banks.

Check this out

Fed boosts support for Goldman and Morgan
Central bank okays change in status for last two remaining investment banks.

WASHINGTON (AP) -- The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks - Goldman Sachs and Morgan Stanley - to change their status to bank holding companies.

Very interesting.

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