And then there were none. On Sunday, September 21 last year, Goldman Sachs and Morgan Stanley capped a tumultuous week on Wall Street by declaring they would become bank holding companies regulated by the Federal Reserve instead of broker-dealers regulated by the Securities and Exchange Commission.

The move came less than a week after the collapse of Lehman Brothers and the firesale of Merrill Lynch, and less than six months after the rescue of Bear Stearns.