Goldman Sachs, Morgan Stanley made bank holding companies by Fed

Discussion in 'Wall St. News' started by payup, Sep 21, 2008.

  1. payup

    payup

  2. What the heck does that mean?
    They are going to buy out a retail bank?
     
  3. payup

    payup

    trying to understand it too
     
  4. dont

    dont

    Means they have the full backing of the FED just like a normal bank.

    Extremely bullish for both shares they will survive now.
     
  5. dealer

    dealer

    I think it means that they are in a better position to receive funding directly from the Fed.
     
  6. They will be able to open reg. bank accounts for clients with FDIC insurance. Plus, with the banking, they will have a continuos flow of depositors money.
     
  7. Nice. so they are going to open up Goldman Sachs bank branches?
     
  8. i think it means they can give out toasters and blenders with CDs now. great!
     
  9. dealer

    dealer

    Just saw a headline on DJ :

    "NY Fed to extend credit to Goldman, MS & ML"

    Why this had to happen on a Sunday night, i don't know....
     
  10. dont

    dont


    Classic I want my GS branded toaster.

    :D
     
    #10     Sep 21, 2008