The man who predicted this whole mess, Nouriel Roubini, reiterated his prediction this morning that all the major independent broker-dealers would disappear. Two have now gone, which leaves two more: Goldman Sachs (GS) and Morgan Stanley (MS).
Nouriel told us on TechTicker this morning that Goldman and Morgan should be reaching out to potential bank partners today (HSBC, Barclays, etc), before it’s too late. In a later instalment , we discuss the Goldman and Morgan situation in detail, but here’s an overview:
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