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Some firms, such as Goldman Sachs and Morgan Stanley, who were highly exposed to mortgage-backed securities, became Bank holding companies & commercial to qualify for emergency loans.
A bank holding company is a legal entity that owns a controlling interest in one or more banks but does not itself provide banking services. A holding company does not carry out the day-to-day operations of the owning bank. However, they control management and company policy.
A bank holding company is a company that controls one or more banks but does not necessarily conduct banking itself. Composite Bancorp is also commonly used by these companies.
Learn more about Bank holding companies here: https://brainly.com/question/2843605
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