沪江社团

6 months ago there were 5 big independent investment banks. Then in march J. P. Morgan trace bought bear sterns in a rescue sale. And this month there was Linch agreed to be sold to bank of America. The government provided loans to aid the sale of bear stones but officials decided to let Limon Brothers, a 158-year old investment bank fail. Last week the British Bank Burlies purchased much of limon in bankrupcy court. Investment banks raise money for companies through offerings of stuff and bums. They also sell and trade securities and provide other services. The banks could borrow huge amounts agianst relatively little capitaland they created ever more complex securities. The last Stigle Act of 1932 barred commercial banks from owning investment banks. Morgan stanly slipped from J. P. Morgan as a result of the last stigle. Congress passed the law to reduce risk to deposits following the stock market crash of 1929. But Congress ended that stigle in 1999. Now commercial and investment banks are together again much as they were before 1933.

听写于：2008/10/9 18:56:52 用时：02:02 正确率：84% 错词：个

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