Commentary: Prospects improve for big banks

07/8/2009 | Wall Street Journal, The

Columnist Peter Eavis explains how the prospects for banks often referred to as "too big to fail" have gone from uncertain to relatively positive. Merrill Lynch, Morgan Stanley, Goldman Sachs and other banks were struggling to fund themselves in wholesale markets last year as they took massive write-downs. Governments were threatening to break up the banks or restrict their activities. However, the situation for these large institutions has changed during the past several months.

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