A turning point for investment banks
We've wondered a lot over the past year about what's next for Wall Street, as in what's the next big thing? The subprime boom, as it continues to wind down, will not reflate anytime soon. We have to assume that's permanent. That drove a lot of growth, which will moderate throughout the year. But what about 2009 and 2010? Well, Investors' Business Daily notes that there will be some easy year-over-year comparisons that likely will return the industry to double-digit growth. But then you get to 2010 and we're right back to single digits. Perhaps that's the most we can hope for, meaning maybe we should get used to manufacturing industry-like returns. Then again, perhaps something big product is on the drawing board as we speak. I'm reminded of the tech industry a few years ago. No one could see past PC operating systems. Then, the Internet came along.
For more:
- here's a look at earnings from Investors' Business Daily
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