By Martin Hutchinson, Contributing Editor, Money Morning
The collapse of The Bear Stearns Cos. and Lehman Brothers Holdings Inc. (OTC:
LEHMQ), the forced takeover of Merrill Lynch and the decisions by Goldman Sachs Group Inc. (NYSE:
GS) and Morgan Stanley (NYSE:
MS) to get commercial-banking licenses seemed to signal that the investment-banking business model was dead.
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