Julia Thompson <[EMAIL PROTECTED]>
> The general SEC requirement had been to limit it to 12X. An exception was > made in 2004 for 5 companies - Goldman, Merrill, Lehman, Bear Stearns, and > Morgan Stanley. > > And, since I know someone is going to yell, "Cite!", I will: > > http://bigpicture.typepad.com/comments/2008/09/regulatory-exem.html Nice link. Just to be clear, I want to point out that the reserve requirements Dan mentioned are set by the Fed, which controls deposit-funded bank requirements. The big investment banks ("broker-dealers") were not regulated by the Fed, but rather by the SEC, as you mention above. Two completely different regulatory environments. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
