Investment bank in Minneapolis area

Principal Businesses of Investment Banks in Minneapolis

http://en.wikipedia.org/wiki/Investment_banking#cite_note-The_New_Paradigm-0

Investment Banking Business in Minneapolis

Risk-taking activities of investment banks were reduced following large losses that stemmed primarily from mortgage-related assets, bad loans, and an overall reduction in revenues due to the financial crisis. This led to an industry-wide effort to reduce leverage and a string of new equity capital issuances. By the end of 2008, five pure-play investment banks headquartered in the United States that did not operate deposit-taking businesses (unlike large universal banks such as J.P. Morgan, which operated a large investment bank, a deposit-taking business, and other businesses) had undergone significant transformations: Goldman Sachs and Morgan Stanley converted into bank holding companies; the U.S. Federal Reserve (Fed) pushed Bear Stearns into the arms of J.P. Morgan to avoid a bankruptcy; Lehman Brothers filed for bankruptcy protection after the Fed and Treasury Department ignored its pleas for government support; and Merrill Lynch, presumably to avoid a similar bankruptcy filing, agreed to sell their firm to Bank of America.