Traditionally,Wall Street investment banks had been organized as ________,but by 2000 they had converted to being ________.

Question

Quizplus · Accepted Answer

Traditionally, Wall Street investment banks were organized as partnerships, owned jointly by a group of partners. However, by 2000, most investment banks had transitioned to being publicly-traded companies, where ownership is spread out among shareholders. This allowed investment banks to access greater amounts of capital and expand their operations.

Traditionally,Wall Street Investment Banks Had Been Organized as ________,But by 2000