Morgan Stanley was originally going to buy Merrill Lynch according to CNBC
It looks like Morgan Stanley perhaps made a big error in not acquiring Merrill Lynch. Even though Morgan Stanley could not examine Merrill's books in 48 hours, had Morgan Stanley acquired Merrill Lynch we probably would have seen the rise of the new number one investment bank in the world. Yes, Goldman Sachs would have been overthrown by Morgan Stanley for top investment bank.....
Close but no cigar. GS is still king
Your assertions are questionable. MS would have had a bunch of duplication on its hands. A lot of ML's clients would have left anyways so as not to deal with the transition. MS would have been left not that much better off.
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