Many investors are wondering what’s next for Goldman Sachs, a firm some on Wall Street consider to be in a league of its own.
If Morgan Stanley merges with Wachovia or someone else, can Goldman survive as the only independent major investment bank?
According to sources close to the company, Morgan Stanley is in advanced merger talks with Wachovia, as well as ongoing talks to raise capital from a Chinese bank.
According to people familiar with these discussions, Morgan Stanley Chief Executive John Mack is - at least for the moment - leaning toward a deal with Wachovia, but that deal will depend on due diligence, which is yet to be completed.
If the deal goes through, that leaves only one major investment bank standing. But this one might be a world apart. "We think Goldman is in a much better position to deal with this storm versus where Bear Stearns, Lehman and Merrill were," analyst UBS Glenn Schorr wrote in a note to clients.
And that leads to our Fast Money Reader Poll.
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