What happened to the independent investment bank?

Running Head : WHAT HAPPENED TO THE INDEPENDENT INVESTMENT BANK

What happened to the independent investment bank (Your Name (Your Name

Introduction

The current economic crisis has been likened to the extremes of h the great depression . Although the world may not have reached that stage , it may be heading towards that direction . The current economic crisis has dragged a long with it a number of swift changes in the world financial sector . One of the most foreseeable changes has been the end of the investment bank era . According to the recent 2008

Banking and Consumer Regulatory Policy enacted by the Federal bank , it appears clear that the era of investment bank has been left to oblivion . In 2008 , the Federal Reserve Bank approved an application by Goldman Sachs and Morgan Stanley which have been some of the leading investment banks in the country to become banks holding companies (Brown , 2009 . The current decision by the Federal Bank Research Board departs from the memories of the 1990s when every bank manager envied the end of year results of vulnerable investment banks . The financial sector has actually departed from a common phrase like be more like Goldman Sachs ' to Be less like Goldman Sachs ' is a common imperative today . Although the current economic recession has resulted from different factors , investment banks and the security firms have most of the times being pointed out at the center of the crisis . However , it remains clear that the current economic crisis may have far reaching...