September 26, 2006
It's A Win-Win For Securities Firms
The debacle at Amaranth has not prevented the biggest so-called prime brokers, like Goldman and Morgan Stanley, from continuing to reap a bonanza in 2006. Securities firms are poised to earn about $8 billion on prime brokerage services to hedge funds. IHT.com reports:
"It looks like there has been no fallout for the prime brokers," said Michael Holland, who manages the New York investment firm Holland & Co. Amaranth "makes those businesses look much more attractive, rather than less attractive," he said.
Read more: Wall Street giants dodge hedge fund's debacle
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