NPR Topics: Economy

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Fed OKs Changes At Goldmans, Morgan Stanley - September 22, 2008

The Federal Reserve says the last two big, independent investment banks, Goldman Sachs and Morgan Stanley, are scrapping the business model that made them so profitable for so long. They are now bank holding companies and are regulated by the Fed.
http://www.npr.org/templates/story/story.php?storyId=94876639&ft=1&f=1017

Some Lawmakers Seek To Broaden Rescue Bill - September 22, 2008

Bush administration officials want Congress to approve a $700 billion aid package for Wall Street, and they want it to happen soon. Democrats say they're willing to help shore up the financial markets, but they want a bill that includes relief for homeowners and taxpayers as well.
http://www.npr.org/templates/story/story.php?storyId=94876608&ft=1&f=1017

Metamorphosis at Goldman Sachs, Morgan Stanley - September 22, 2008

To survive the economic meltdown, two major investment banks have decided to change their status to traditional commercial banks. The Federal Reserve approved the requests from Goldman Sachs and Morgan Stanley Sunday. Now the two titans will be able to accept deposits, which will give them more of a financial cushion in hard times.
http://www.npr.org/templates/story/story.php?storyId=94876625&ft=1&f=1017

Goldman, Morgan Stanley To Become Holding Firms - September 22, 2008

The Federal Reserve has granted a request by Wall Street's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies. The change will allow them to create commercial banks that will be able to take deposits.
http://www.npr.org/templates/story/story.php?storyId=94877512&ft=1&f=1017

Dodd Vows To Act 'Quickly, Carefully' On Bailout - September 22, 2008

As chairman of the Senate Banking Committee, Sen. Chris Dodd is among the lawmakers hammering out details of a historic financial bailout. Dodd, a Democrat from Connecticut, says that while Congress must act quickly, members must act responsibly as well and make sure taxpayers get relief.
http://www.npr.org/templates/story/story.php?storyId=94877479&ft=1&f=1017