Wall Street's high-stakes love affair with Europe continues
Goldman Sachs, Bank of America and Morgan Stanley among the Wall Street giants that have continued to buy up bonds in debt-laden Italy and France. Hopefully these risky moves pay off. Because Wall Street never makes bad decisions.
Goldman Sachs, Bank of America and Morgan Stanley among the Wall Street giants that have continued to buy up bonds in debt-laden Italy and France. Hopefully these risky moves pay off. Because Wall Street never makes bad decisions.
Changing $50 billion!
Your favorite insolvent-but-for-the-grace-of-god-and-the-taxpayer banks are still in the game, player.聽 Don't you worry about that...
From Fortune:
Maybe these bets are sound ones? Maybe (hopefully) Europe can stay together through a combination of bailouts, treaty rewrites and poetic speechifying, in which case these bond holdings may pay off handsomely for the US banks.
And so what if they don't - write 'em off and play a different game!聽 It's not like any of this is real money we're talking about, just blips on a computer screen.