Is it just me or does all that merging seem like a bad thing to anyone else?
That's the first thing that I thought when I heard that this weekend.
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
I have to admit my understanding and knowledge of the world of finance is limited, but my girlfriend works in the industry and is very uneasy about this idea. She admits that the move will probably save her job, she works for WaMu, and a merger with Goldman Sachs will definitely save her job. A Well fargo take over will do the same and she seems more comfortable with that possibility. I guess we will have to wait and see how this all plays out. I am more concerned with the $700 billion plus our government has spent bailing out all these institutions.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
I have to admit my understanding and knowledge of the world of finance is limited, but my girlfriend works in the industry and is very uneasy about this idea. She admits that the move will probably save her job, she works for WaMu, and a merger with Goldman Sachs will definitely save her job. A Well fargo take over will do the same and she seems more comfortable with that possibility. I guess we will have to wait and see how this all plays out. I am more concerned with the $700 billion plus our government has spent bailing out all these institutions.
My knowledge of finance is very limited, but one thing that scares me a bit is this. If these large investment banks are able to gobble up some of the larger retail banks, what happens if years from now something like this happens again? A corporation like Goldman Sachs may be more diversified and be able to stay afloat, but what if it can't? Then is takes down part of the retail banking industry too, causing more damage.
I don't know... maybe I'm off base, but we're seeing what damage can be done when these large companies go under, making them even bigger seems more like an "all of your eggs in one basket" approach to our economy.
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Comments
That's the first thing that I thought when I heard that this weekend.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
My knowledge of finance is very limited, but one thing that scares me a bit is this. If these large investment banks are able to gobble up some of the larger retail banks, what happens if years from now something like this happens again? A corporation like Goldman Sachs may be more diversified and be able to stay afloat, but what if it can't? Then is takes down part of the retail banking industry too, causing more damage.
I don't know... maybe I'm off base, but we're seeing what damage can be done when these large companies go under, making them even bigger seems more like an "all of your eggs in one basket" approach to our economy.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln