以前的投资银行,从麦仑经营,第一波士顿银行,到经历过三十年代,磨练的摩根斯坦利,一个保守的公司,conservative,place,,chastened,by,the,’,投资银行是合伙人的关系,是完全私有的。
The investment banks of yore, from Mellons running the First Boston, Morgan Stanley was a very 30s, the investment banks were partnerships, they were totally private.