Summit Notebook
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Survival, yes, but what about the money?
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Veteran Wall Street banking analyst Richard Bove sees Lehman Brothers surviving – but he doesn’t think they’ll be making a lot of money.
There’s just not a lot of business there at the moment for brokers like Lehman, he told the Reuters Investment Outlook Summit in New York.
To listen to a clip of what Bove had to say, please click here
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There will more re-thinking of IB roles. In the end they will morph to mony making… Nuthin like OPM to create profit margins.