Irrational Exuberance Turns to Irrational Despair: Merrill Lynch and Lehman Brothers
Financial Insights analysts react to the events of the past week.
The report highlights include the expected decrease in technology spending noting that Merrill and Lehman each represented about 3% of the total securities markets IT spend, equaling an immediate 6% decline in projected spending.
The report suggests that Bank of America could become the Google or Microsoft of the financial services space.
IT firms with analytics, compliance and risk management vendors should be jockeying to assist these firms with an obvious gaps.
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