6/24/2008

More Wall Street investment banks may be forced into marriages with deposit-rich commercial banks, a veteran banking analyst said. Investment banks may find themselves devastated by write-downs and credit losses, analyst Charles Peabody said. "There's something about the model that says they're going to emerge from this cycle as walking wounded and the walking wounded really can't compete on a stand-alone basis," said Peabody, co-founder of independent research firm Portales Partners.

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