Bonds

On September 21, 2008 Morgan Stanley announced that the Federal Reserve had granted it bank holding status, giving it more flexibility to maneuver during the financial crisis gripping the economy. The status also means that it is subject to increased regulatory oversight under the Bank Holding Act.

As two NYTimes reporters recently put it, "Goldman is the firm that other Wall Street firms love to hate. It houses some of the world’s biggest private equity and hedge funds. Its investment bankers are the smartest. Its traders, the best. They make the most money on Wall Street, earning the firm the nickname Goldmine Sachs.