Tuesday, September 16, 2008
nouriel roubini has been saying for some time that all the independent broker dealers are doomed. i seem to recall him saying yesterday (was it just yesterday?) that MS and GS should run out and find a buyer immediately just as merrill had.
the entire point of the double-takeunder of lehman and merrill was to erect a firewall the now-rampant contagion could not break.