Investors, racing to the safety of Treasuries on fears the economy could be headed toward a double-dip, trampled all over Wall Street banks, the Wall St Journal writes.
And Goldman Sachs and Morgan Stanley are getting dusted up the most in the rush toward the exits.
In fact, the squeeze on Goldman is so severe that one analyst yesterday forecast that the gold-plated bank would report its first quarterly loss since the 2008 credit crisis -- and only its second since going public.
The picture’s equally grim for Morgan Stanley, which had gained ground on Goldman in recent quarters -- since James Gorman took the helm in January 2010. Its shares have been pummeled in recent days, falling nearly 22 percent over the past five trading days…
Read the rest at http://online.wsj.com/article/SB10001424053111904563904576587174215536308.html?mod=WSJ_hp_LEFTWhatsNewsCollection
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