Demand for brokers comes while Wall Street eliminates 65,000 jobs to compensate for a slump in sales and trading of asset- backed securities and high-yield corporate debt.
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- Howard Marks
- werner herzog
- Simon Johnson
- [U.S. banks face] challenging market conditions…[the collapse of the housing market has led to] a substantial deterioration in asset quality and earnings… [State banks also face] deteriorating credit conditions [this year].
- We refused to touch credit default swaps. It would be like buying insurance on the Titanic from someone on the Titanic.
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