Strong Q3 for Goldman and Morgan Stanley
The release of the banks' earnings reports last Tuesday (September 16) followed the collapse of rival US investment bank Lehman Brothers and ailing heavyweight Merrill Lynch's shock buyout by Bank of America.
Goldman Sachs' revelation of a 51% drop in net revenues from $12.3 billion in Q3 2007 to $6.04 billion in the third quarter prompted speculation about the dealer's future as an independent entity.
"Uncharacteristically modest results damage Goldman's aura of invulnerability," said Isabel
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