Britannia Radio

Another big change on Wall Street

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The Federal Reserve has announced a big change in the way the last two independent

investment banks on Wall Street will be managed. Business editor Robert Peston and
North America editor Justin Webb explain why Goldman Sachs and Morgan Stanley will be

allowed to raise more funds by opening commercial banks.

Joseph Stiglitz, of Columbia University, argues that markets are not self-correcting and require intervention.
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