yoitsung

         10/3修正:看看名家觀點:http://udn.com/NEWS/FINANCE/FIN2/4543230.shtml

把投資銀行學課本燒了吧!這是不輕視這門學問，只是Fed正式終結了華爾街

投資銀行的歷史，也正式向世人宣告「自由市場經濟」是騙人的，當海嘯還

在外海狂奔時，這時候如何讓海嘯不會持續蔓延到本土，才是處理重點。什

麼效率市場？自由市場？競爭市場？當碰到危害美國老大地位時，就不用管

那麼多了。「干預市場」才處理危機最高準則吧？

     CDO到CDS讓世人終於見識到不只賺錢有槓桿效應，賠錢也同樣是會有槓

桿效應。貝爾斯登、雷曼都倒了，而美林也依附在美國銀行，試圖想躲避這

場災難?但金融史會記載2008年9月23日Fed Statement on Goldman, Morgan Stanley

 讓純粹投資銀行走入歷史這件事。也正式向世人宣告，金融海嘯還在努

力處理監控中，並未平息。

Fed Statement on Goldman, Morgan Stanley

The following is the Federal Reserve's statement on the change in status of Goldman Sachs and Morgan Stanley:

The Federal Reserve Board on Sunday approved, pending a statutory five-day antitrust waiting period, the applications of Goldman Sachs and Morgan Stanley to become bank holding companies.

To provide increased liquidity support to these firms as they transition to managing their funding within a bank holding company structure, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit to the U.S. broker-dealer subsidiaries of Goldman Sachs and Morgan Stanley against all types of collateral that may be pledged at the Federal Reserve's primary credit facility for depository institutions or at the existing Primary Dealer Credit Facility (PDCF); the Federal Reserve has also made these collateral arrangements available to the broker-dealer subsidiary of Merrill Lynch. In addition, the Board also authorized the Federal Reserve Bank of New York to extend credit to the London-based broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley, and Merrill Lynch against collateral that would be eligible to be pledged at the PDCF.