Word: morgans
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Dates: during 2000-2009
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...stability than financial innovation, and the government will have more responsibility for the financial system,” he said. Clayton S. Rose, a senior lecturer of business administration at the Business School and the former head of the Global Investment Banking and the Global Equities Divisions at J.P. Morgan, called the regulatory changes at Goldman Sachs and Morgan Stanley “significant.” “The reclassification of Goldman Sachs and Morgan Stanley was not a voluntary exercise,” he said. The Fed and the Treasury forced the changes on both firms...
...Morgan had the opportunity to potentially pick up businesses that were extremely profitable,” Bergstresser added, “but the question then and now is whether it was worth the risk that was taken on as well as the price paid for Bear. That remains to be seen...
Rose added that JP Morgan had to balance the risks of hidden liabilities with the potential for financial gain...
...Morgan faced a situation fraught with the risks and potential rewards that come with buying a company with $395 billion in total assets,” he said, “Were these assets valued at the right level, and if so, how much could the assets deteriorate by before becoming a big problem for JP Morgan...
...Talented employees will go elsewhere and clients who don’t want to deal with the turmoil will look to other firms to do business,” Rose said. “In addition, there are big cultural differences between Morgan and Bear, and solving these issues is a big exercise of time and attention...