On the dusk of investment banks, who needs a violin in outer space? [Note: air and therefore sound doesn’t travel in outer space]

Hobbes, the financial mess we are going through resembles a bad remake of Agatha Christie’s “And then there were none” (Ten Little Indians for the non-PC).

Last winter we had a breed of maverick investment banks in the world. Morgan Stanley, Goldman Sachs, Merril Lynch, and Lehman Brothers and their Chihuahua Bear Stearns were alive and kicking. As things stand today, Bear Stearns went under last May, Lehman Brothers last week, Merrill Lynch sold itself for a mere $50bn (including $200m for the top brass, as indecently as we are by now used to) to Bank of America to stay afloat and rumour has it that Morgan Stanley is in advance merger talks with Wachovia (another falling knife of the story anyway).

I am no banking expert, just another pundit of the blogosphere, but it is just me or in troubled times based in untrustworthiness and lack of investment out of fear, being in the investment banking business is like selling umbrellas in the Sahara?

Citibank’s “financial supermarket” strategy was being laughed at not long ago, and it now turns that highly specialised operations are recipe for trouble when the music stops.

As I heard the other day, it is all like a kidney stone, it will be painful but eventually it will pass. I hope.

.calvin

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