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Article: Banks' big bets on real estate market backfired ; Experts: Looser regulation enabled investment banks to make riskier bets
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- September 16, 2008
- Author:
CopyrightCopyright 2008 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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WALL STREET WOES
Investment banks like Lehman Bros. are the grease that keeps the
worldwide financial market turning.
You want to raise money by selling stocks or bonds, you call an
investment bank. They will tell you how much you can get for your
stock, and guarantee there will be buyers.
You want to merge your company with another firm or buy out the
other guy, you need an investment banker.
And if you are a really big investor, say a pension fund, your
average stockbroker isn't going to do. When you buy and sell in $10
million units, you need a brokerage account at an investment bank.