Merrill Lynch is now a division of Bank of America
http://www.cnbc.com/id/26719887

It seems that Morgan Stanley may become a division of Wachovia.
http://www.cnbc.com/id/26762077

Are New York's days numbered. Will Goldman merge with BB&T?
http://www.cnbc.com/id/26760034/for/cnbc/


Lower taxes, cheaper rent and now Charlotte has mass transit, sort of. What's not to love.

9/17/2008 6:17:57 PM

first

9/17/2008 6:24:01 PM

interesting

9/17/2008 6:33:01 PM

new New York?


no thanks.

9/17/2008 6:34:59 PM

Yeah, I seriously doubt Charlotte could become the next New York overall, but I suppose I could see it become a major banking city.

9/17/2008 7:19:02 PM

BB&T is out of Winston-Salem isn't it? Like Wachovia was before the take-over...

9/17/2008 7:28:43 PM

[tags don't work][/in the title]

9/17/2008 7:37:55 PM

Quote :

"I suppose I could see it become a major banking city."

it already is a "major baking city", the only question is, how much more major will it become

9/17/2008 7:43:39 PM

new businesses will help the local economy

course it could all be for (net) naught if somebody like the Wach gets bought out...shit is rough for some of those companies right now

9/17/2008 7:54:55 PM

rumors of Morgan Stanley and Wachovia 'merger' (MS buyout)...holler at your portfolios with the quickness

9/17/2008 8:44:25 PM

After the first wall street crash, most states enacted laws against branch style banks, but North and South Carolina didn't. These banks chose Charlotte for their headquarters simply for geographical reasons. After these laws were repealed, these early Carolina branch banks were already experienced and established, prospered, and further consolidated banking power in the city.[/history lesson]

9/17/2008 9:00:59 PM

well all I know is that everyone is new york is loosing their shit.

im just praying for cheaper rent and less bankers/douche bags/

9/17/2008 11:25:12 PM

Most of the banks with large commercial banking businesses will survive this. No surprise that BofA and Wachovia are hanging in there.

9/18/2008 12:10:39 AM

Quote :

"but I suppose I could see it become a major banking city."

it has been one for decades

9/18/2008 9:09:42 AM

Will it become THE major banking city though?

9/18/2008 10:18:16 AM

It's number two right now (behind NYC) and has been for many years.

9/18/2008 12:59:59 PM

all due to that gold rush they had near charlotte way back when or whatever

used to have a mint there i think

9/18/2008 2:57:14 PM

Quote :

"Most of the banks with large commercial banking businesses will survive this. No surprise that BofA and Wachovia are hanging in there."

not necessarily...Bofa and Wach both made plenty of bad deals...thats probably whey they each cut their workforces by over 20% in the last 6 months (thats over 10,000 people fired from each company)...they made plenty of loans to people with shitty credit, the market collapsed, and to try and recoup, in addition to massive downsizing, they decide to raise rates on legitimate businesses since they know they can actually pay...i fucking hate them

9/18/2008 5:00:02 PM

Quote :

"all due to that gold rush they had near charlotte way back when or whatever used to have a mint there i think "

that's not at all why charlotte is the #2 banking city.

hopefully that was sarcasm on your part

9/18/2008 5:27:16 PM

Quote :

"Bofa and Wach both made plenty of bad deals"

Absolutely agree. The only point I was trying to make is that the commercial banking side is propping up those companies and will be the reason they survive the crisis. If they didn't have that business, they would be sunk like the others.

9/18/2008 5:33:53 PM

Quote :

"rumors of Morgan Stanley and Wachovia 'merger' (MS buyout)...holler at your portfolios with the quickness"

Quote :

"Wachovia stock up 59 percent after Morgan Stanley merger talks"

i made 2 grand in the last 24 hours...holla

selling the shares start of day tomorrow...probably will go back down...gotta get it while its hot!

[Edited on September 19, 2008 at 1:04 AM. Reason : .]

9/19/2008 1:00:00 AM

i bank with wachovia!!!!!!!!!!!!!!!!!!!!

9/19/2008 1:18:27 AM

this week has been very profitable for me lol

9/19/2008 2:34:10 AM