The worst is yet to come for M&A, Bernstein says, predicting the drop-off will accelerate in...


The worst is yet to come for M&A, Bernstein says, predicting the drop-off will accelerate in 2009 and won't bottom until 2010. Bad news for MS and GS, especially with the shrinkage of their trading revenues, and for dedicated advisory firms like GHL, and EVR.
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