Monday, September 22, 2008

Paulson Plan May Benefit Mostly Goldman, Morgan, Analyst Says (GS; MS)

The post below starts out:
From "No self-interest here" (and/or the department of duh):
I should maybe have held some snark in reserve.
From Bloomberg:
Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets from financial companies while many banks see limited aid, according to Bank of America Corp.
``Its benefits, in its current form, will be largely limited to investment banks and other banks that have aggressively written down the value of their holdings and have already recognized the attendant capital impairment,'' Bank of America debt analyst Jeffrey Rosenberg wrote in a report today, without identifying particular investment banks....MORE