heckuva job georgie - part hell I've lost count
LONDON (Reuters) - Turmoil and uncertainty over some of Wall Street's best-known investment banks has left some facing rougher market conditions that price them as riskier than developing countries or banks in volatile areas of the world.
Seen for decades as the power brokers in emerging market finance, Wall St firms' sudden underdog status points to the magnitude of fear surrounding them -- and perhaps a degree of confidence in the longer-term stability of developing countries.
Shortly before it received a Federal Reserve-backed rescue package late last week,
the cost of insuring the debt of U.S. bank Bear Stearns (BSC.N) was higher than that for banks in Kazakhstan, one trader said.http://news.yahoo.com/s/nm/20080318/bs_nm/emerging_wallstreet_dc;_ylt=AolmOV4o0wdPI0l6pUifGlCs0NUEpretty soon we'll be viewed as a banana republic
