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GOLDMAN, MORGAN STANLEY TO BECOME REGULATED BANKS

By Krishna Guha in Washington
Published: September 22 2008 03:04 | Last updated: September 22 2008 07:34

Goldman Sachs and Morgan Stanley, the last surviving big investment banks on Wall Street, have become regulated banks.
In a statement issued at 9.30pm Sunday, the Federal Reserve said it had approved their applications to become bank holding companies, subject to regulation by the Fed. Click to read more .

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