Both Morgan Stanley and Goldman Sachs changed into commercial banks during the credit crisis.

Name: Both Morgan Stanley and Goldman Sachs changed into commercial banks during the credit crisis.
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During the 2008 financial crisis, both Morgan Stanley and Goldman Sachs converted into bank holding companies to gain access to the Federal Reserve's discount window and other public sources of capital, marking a significant shift in their business models.

Both Morgan Stanley and Goldman Sachs Changed into Commercial Banks