During the credit crisis, many commercial banks were forced to convert into securities firms.

Question

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During the credit crisis, some investment banks, such as Lehman Brothers, failed because of their exposure to risky mortgage-backed securities. However, most commercial banks did not convert into securities firms, but rather struggled to maintain their liquidity and financial stability. Some commercial banks did receive government assistance, such as bailouts or guarantees, to prevent their collapse.

During the Credit Crisis, Many Commercial Banks Were Forced to Convert