Goldman Sachs and Morgan - the two great names in the financial sector are converting themselves into the old fashioned retail commercial banks. Morgan is wooing Japanese financial powerhouse Mitsubishi UFJ Financial Group Inc with a 20% stake that would garner $8bn. Nomura again from Japan have announced that they are buying the Asia operataions of Lehman with around 3000 staffs also. The euphoria over the Fed bail out appears to be loosing its shine. US markets closed around 3.5% down.
Tuesday, September 23, 2008
==>>US markets loosing its charm
Goldman Sachs and Morgan - the two great names in the financial sector are converting themselves into the old fashioned retail commercial banks. Morgan is wooing Japanese financial powerhouse Mitsubishi UFJ Financial Group Inc with a 20% stake that would garner $8bn. Nomura again from Japan have announced that they are buying the Asia operataions of Lehman with around 3000 staffs also. The euphoria over the Fed bail out appears to be loosing its shine. US markets closed around 3.5% down.
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