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Over the weekend, the final two of Wall Street's great money houses, Goldman Sachs and Morgan Stanley, changed their stripe and became "plain vanilla commercial banks," as ABC's Betsy Stark (at the tail of the Tapper videostream) put it. "In just six months five major investment banks have now vanished from the landscape ending an era of aggressive deal-making and spectacular profits. These Masters of the Universe, immortalized by Hollywood, have been humbled." CNBC's economist Steve Liesman told NBC anchor Brian Williams that the worst day had been last Thursday when "the financial market came very close to freezing up and a lot of people in very high places were scared." Ominously he pointed out that Benjamin Bernanke, the Chairman of the Federal Reserve Board, is "one of the leading experts on the Great Depression." While Wall Street waited for legislation to emerge from Washington "investors were still edgy," commented CBS' Anthony Mason, watching the Dow Jones Industrial Average drop again, by 372 points to 11015.
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