Independent Investment Bank RIP

[BlasterBates]

The demise of Morgan Stanley and Goldman Sachs

Looks like the two remaining Wall street names may well be gone fairly soon.

Its strikes me that investment banking isn't profitable, you need pension funds and private bank accounts to fund their antics.

[sasguru]

Isn't JP Morgan an investment bank too?

[aceboy]

All of that article is speculation

[snaw]

Isn't JP Morgan an investment bank too?

Yeah, but it's got a massive high street presence - Bank One in the US, which I guess is what this is getting at, it's not a pure IB.

[SandyDown]

Mergers and acquisitions are very very good news for contractors, lots of system and organisational integration projects.

Bankruptcy, is not good news though.