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Fannie's old preferred shares promptly sank back to about $1.While the companies' status as public utilities now appears crystal clear, the federal government's long-term role in housing finance is as muddy as ever.
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He said: "Firms that abuse their company status will be investigated and shut down.
The Federation of Small Business (0171-233-7900) has a comprehensive booklet balancing the advantages and disadvantages of self-employment versus limited company status.
Cerberus and G.M. agreed to reduce their stakes in GMAC as a condition of receiving bank holding company status.
But Goldman could change its tune if the Treasury created guidelines for banks to shed their holding company status.
The company applied for banking holding company status about two or three weeks ago, according to a person with direct knowledge of the situation.
The company, Status People, has now devised a software tool that divides followers into the fake, the inactive and the good.
Goldman officials have said privately it would like to shed its holding company status, although they have stated publicly that they do not plan to change the company's charter.
Police chiefs discussed the unfolding crisis at a meeting of the Association of Chief Police Officers (Acpo) yesterday, which has limited company status and to which Kennedy and Officer A were seconded.
As early as March, both firms had also begun to examine the possibility of transforming themselves, preparing a large filing required to be submitted to the Fed to request bank holding company status.
While the idea of Goldman, Morgan or even Merrill Lynch ridding itself of its bank holding company status seems far-fetched today, the idea of new investment banks emerging is not.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com