Summary
BILLIONS of pounds was wiped off the value of Wall Street's last independent investment banks yesterday as rumour ran rife that Morgan Stanley and Goldman Sachs will be the next victims of the global financial meltdown.
At one point Morgan shares plunged more than 45 per cent, slashing [pounds]5.6billion from its market value, as panic gripped the market over fears that the bank might need to strike a quick merger to save itself from collapse.See the full content of this document
Extract
Morgan Stanley and Even Goldman Sachs Are Under Threat
Meanwhile, shares of Goldman Sachs, the only other independent Wall Street investment bank, dropped by more than 24 per cent as rumours a...
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