Many investment banks have announced layoffs. How are you handling things at Bank of America Securities (the investment banking branch of Bank of America)?
A. [by Revell Horsey, Bank of America investments, At the end of the year, we were realigning our business. We are looking at where to add quality talent, and where to replace people. The markets are just atrocious, so it’s no surprise that we finished the year with the equity new issue business limping along.
