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End of an era

t1home_morganstanley_mon_02.jpgNEW YORK (CNNMoney.com) — And then there were none. Federal regulators converted Wall Street’s remaining stand-alone investment banks – Goldman Sachs and Morgan Stanley – into bank holding companies Sunday night.The move allows Goldman and Morgan to scoop up retail banks and to streamline their borrowing from the Federal Reserve. The shift also is aimed at removing them as targets of nervous investors and customers, who brought down their former rivals Bear Stearns, Lehman Brothers and Merrill Lynch this year.Read the full story

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