(Community Matters) Wow, over the weekend Goldman Sachs elected to become a bank holding company and have access to the Federal Reserves window for emergency lending. This couldn’t have been decided easily. They now come under much stricter banking regulations, thus my unease that this crisis is even deeper than already draconian forecasts.
Morgan Stanley too, so both last standing investment banks. Since Goldman Sachs reportedly didn’t hold any mortgage backed securities, its election more disconcerting. Suspect it’s about their derivative exposure, though honestly just intuiting here
Community Matters 