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MarketWatch reports:

In yet another extraordinary development for Wall Street, the Federal Reserve said late Sunday night that venerable investment banks Goldman Sachs and Morgan Stanley will become bank holding companies, subjecting themselves to stricter federal oversight.

The Wall Street titans will be allowed to transition into holding companies following a mandatory five-day waiting period, and will be able to take advantage of credit from the Federal Reserve Bank of New York in order to complete the transition.

So does this mean I'll soon be seeing Goldman Sachs ATMs around town?

Posted by edelfenbein at September 22, 2008 12:18 PM