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AP source: Morgan Stanley seeks deal with Wachovia

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posted on Sep, 18 2008 @ 12:29 PM
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AP source: Morgan Stanley seeks deal with Wachovia


biz.yahoo.com

NEW YORK (AP) -- Morgan Stanley's stock price plunged again Thursday as the investment bank scrambled to strike a major deal or raise more cash that will assuage investors and prevent more damage to its free-falling shares.

John Mack, the No. 2 U.S. investment bank's chief executive, has reached out to China's Citic Group overnight about a possible investment, according to a person familiar with the talks. Morgan Stanley is also considering a combination with retail bank Wachovia Corp. and an investment from Singapore Investment Corp., one of the world's biggest sovereign wealth funds, said the person, who spoke on the condition of anonymity because the discussions were still ongoing,
(visit the link for the full news article)




posted on Sep, 18 2008 @ 12:29 PM
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Here we go again. Morgan Stanley is in big trouble.

biz.yahoo.com
(visit the link for the full news article)



posted on Sep, 18 2008 @ 12:41 PM
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reply to post by downtown436
 


JP Morgan is pedaling itself to China and Singapore--and doubtless any number of oil-rich Arab states. So begins the great unraveling. "Sovereign wealth funds" is simply a euphemism for foreign state ownership.



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