/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

This morning, Morgan Stanley&amp;#8217;s shares plummetted more than 25 percent,&amp;nbsp;and fellow &lt;del&gt;investment bank&lt;/del&gt; holding company Goldman Sachs&amp;#8217; shares fell more than 10 percent on rumors of its involvement with a potentially shady trade in&amp;nbsp;the German automaker Volkswaken (now the world&amp;#8217;s biggest company by market cap). The two banks&#39; stocks have rebounded somewhat from their respective falls, but even so, the dives are not good news, especially Morgan&amp;#8217;s, which wasn&amp;#8217;t tied to anything in particular, meaning investors are still fearful of banks, even after the Fed has begun to outlay billions in its big bailout package. &lt;p&gt;The job front doesn&amp;#8217;t look much better today. Some Merrill Lynch brokers are apparently &amp;#8220;insulted&amp;#8221; with BofA CEO Kenny Lewis&amp;#8217; recently announced retention package and are perhaps looking to jump ship en masse (the package&amp;nbsp;sounds like a plan out of a Senator named McCain&#39;s playbook: good for the big earners, but less lucrative for lower ones). Meanwhile, Lehman/Barclays is about to slaughter its IT staff with the job-cutting axe (for a break from the horror, check out this comedic take&amp;nbsp;of dealing with life after Lehman),&amp;nbsp;Fidelity Investments is about to bring down the hatchet on about 4,000 insiders (spelling bad news across the investment management industry), and&amp;nbsp;hedge fund insiders are, if they&amp;#8217;re not already, busy spell-checking their CVs after reports revealed that October will be the bloodiest month for hedge funds in a long time&amp;#8212;in fact, October&amp;#8217;s on track to be the worst 30 day period in 10 years for the industry. Scary times indeed.&lt;/p&gt;

Derek Loosvelt

Article

Investment Banking Internships for Summer 2027 Are Open: How, When, and Where to Apply

MBA vs. CFA: Which Pays Off More for Banking and Finance Professionals?

How AI is Changing Careers in Banking and Finance

Where the Vault Fintech 100 Firms Are Headquartered

The Library