News and Politics | September 17, 2008 | 6 comments

How will the Govt. involve themselves in this one?

source: http://www.nytimes.com/

Image
pissedoffinarkansas
As the wrenching shifts within the American financial industry shook world markets on Wednesday, Morgan Stanley, one of the two major Wall Street banks left standing, was considering a possible merger with the Wachovia Corporation or another bank, according to people briefed on the discussions.

A tie-up with a bank would restore Morgan Stanley to its structure during the Depression, when the firm split from the Morgan banking empire. It would also leave Goldman Sachs, long the envy of Wall Street, as the only major American investment bank left.

As Morgan Stanley’s share price came under renewed assault on Wednesday, the firm’s chief executive, John J. Mack, received a telephone call from Wachovia expressing interest in the Wall Street bank. Other banks have also expressed interest in Morgan Stanley, which is considering various options. The talks with Wachovia are preliminary and no deal may emerge.

  1. groups:
    News and Politics,   Greatest Depression
  2. tags:
    News and Politics
  3.     
    |

6 comments // How will the Govt. involve themselves in this one?

  • 1percent
    • +1
      1percent  

    • I've heard that the only reason for involvement in the AIG deal was to maintain continuity of government.

      I don't think the common citizen or the rest of the world was a consideration in their(government) decision.

      Anything that is needed to keep the government operational will be done, at any expense...

      Good luck my fellow citizens.

      Ride on!

    • 3 years ago
  • AveryMoore
    • 0
      AveryMoore  

    • Anyone else remember that song

      "Another one bites the dust"?

      Given enougth time there will be one bank left..Just what a free market in a democracy wants and needs - another monopoly to make all the rules best suited to itself and make everyone else hostages..

    • 3 years ago
  • huntre
    • +1
      huntre  
    • Image

    • From article...
      "Worldwide, financial companies have reported more than $500 billion in charges and losses stemming from the credit crisis - a figure some specialists say could eventually exceed $1 trillion."

    • 3 years ago
  • MeganMcKenzie
    • 0
      MeganMcKenzie  

    • Well, I guess the boomer generation won't be retiring anytime soon. Sorry if i sound negative -- I am angry and pissed off. We put a fox in the hen house with Reagan, Bush Sr., Bush Jr, and now we reap what they have sown.

    • 3 years ago
  • kennymotown
  • pissedoffinarkansas
more from News and Politics:
from the community

top videos