Sept. 15 (Bloomberg) --
In the biggest reshaping of the financial industry since the Great Depression, two of Wall Street's most storied firms, Merrill Lynch & Co. and Lehman Brothers Holdings Inc., headed toward extinction.
``The tectonic plates beneath the world financial system are shifting, and there is going to be a new financial world order that will be born of this,'' said Peter Kenny, managing director at Knight Capital Group Inc., the Jersey City, New Jersey-based brokerage that handles about $1 trillion worth of stock transactions a quarter. ``It's an ugly and painful process.''
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=abVpg8xJDMWk#
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment