Wall Street Firms Look at Thrifts: Three...

Wall Street Firms Look at Thrifts: Three powerful Wall Street companies--Salomon Inc., Blackstone Group and Old Stone Corp.--announced the formation of a partnership for the purpose of acquiring insolvent financial institutions. The three companies said their affiliates hope to raise between $300 million and $600 million to take over and operate some of the troubled institutions crippled by the nation’s thrift industry crisis.