2008: Investment Banking RIP

[the_prestige]

<p>[Bloomberg.com:</a> JPMorgan to Shut Down Proprietary Desk](<a href=“Bloomberg Politics - Bloomberg”>Bloomberg Politics - Bloomberg)</p>

<p>…just like i said earlier [post #7]:</p>

<p>

And don’t fool yourself into thinking that investment banking businesses will continue in its current form… far from it. For instance, one of the traditional profit centers for i-banks were **prop trading desks. Those will be largely scaled down or shut down altogether<a href=“as%20was%20the%20case%20when%20big%20money%20center%20banks%20took%20over%20i-banks%20such%20as%20when%20Citigroup%20took%20over%20Solly%20or%20when%20Credit%20Suisse%20took%20over%20First%20Boston%20or%20when%20BofA%20takes%20over%20Merrill”>/b</a>.

</p>