Here we go again......
Sept. 17 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley, the two biggest U.S. securities firms, tumbled the most ever in New York after a government rescue plan for American International Group Inc. failed to ease the credit contraction.
Goldman fell as much as 23 percent on the New York Stock Exchange and Morgan Stanley plunged 44 percent, leading financial stocks to the lowest level in five years.
It would be ironic if this crisis finished off the big five US investment banks; Bear Stearns; Merrill Lynch; Lehmans; Goldman Sachs and Morgan Stanley. Some might even call that justice.
Wednesday, September 17, 2008
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