Goldman will merge with Wells Fargo
Despite what they are saying about the stand-alone business model on the earnings call Goldman (and MS) will inevitably have to merge... Goldman Wells within the next year
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WSO Employment Rate: for those of you searching for a job, have you received an offer yet?
Yes
55%
No
45%
Total votes: 80
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junkbondswap, I'm curious to
junkbondswap, I'm curious to know why you paired GS with Wells rather than Wachovia or other banks?
Thanks.
hmmm...
Wells Fargo is actually one of the healthiest commercial banks. If I do end up getting an offer from GS (yea right!) I'd much rather see them merge with Wells than a toxic waste like Wachovia
What's wrong with a pure
What's wrong with a pure investment bank? Wells Fargo is pretty stable compared to others, but what makes you think there's even a need to merge? I hate to sound like a fanboy, but Goldman Sachs is without peer on Wall St. they've avoided any major losses in the Crisis, and didn't Wells have a $1.4BN loss?
kald
What's wrong with a pure investment bank? Wells Fargo is pretty stable compared to others, but what makes you think there's even a need to merge? I hate to sound like a fanboy, but Goldman Sachs is without peer on Wall St. they've avoided any major losses in the Crisis, and didn't Wells have a $1.4BN loss?
You have no idea what you are talking about. The big question is whether or not the investment banking model--one that requires access to short and medium term money market in order to function everyday--can endure. A commercial bank has access to customer deposits, which are a more stable source of liquidity. As we have seen, if a bank no longer has access to these short and medium term markets, then its downfall can come relatively quickly. GS linking with a commercial bank may provide a margin of safety for the tough times. By the way, WFC is probably either the 1st or 2nd best run commercial bank in the US and has been for some time.