BREAKING: Morgan Stanley Considers Merger With Wachovia

NYT ^ | 9-17-08 | staff

[Anti-Hillary]

Morgan Stanley, one of the two last major American investment banks, is considering a merger with Wachovia or another bank, according to people briefed on the discussions.

Morgan Stanley’s chief executive, John J. Mack, received a telephone call on Wednesday from Wachovia expressing interest in the Wall Street bank. Morgan Stanley is considering other options as well. Other banks have also expressed interest in Morgan Stanley.

The talks are preliminary and no deal may emerge, these people cautioned. But if one is reached, it would mark the end of Morgan Stanley, one of the descendants of the original J. P. Morgan & Company.

Morgan Stanley, whose stock plunged sharply on Wednesday, would become the third major investment firm to fold amid the credit crisis. Lehman Brothers filed for bankruptcy on Monday, while Bank of America agreed to buy Merrill Lynch for about $50 billion. In March, JPMorgan Chase agreed to buy Bear Stearns at the urging of the government, as that securities firm teetered on insolvency.

[Pelham]

Start here:

http://tinyurl.com/5utsto

http://tinyurl.com/32afuh

[Pelham]

“.you might notice that every market crisis comes from less regulation than what’s needed to curb the human tendency toward gluttony. “

Well said. Although the poster boy for gluttony, sloth, and avarice won’t agree.

[Pelham]

“the poster boy for gluttony, sloth, and avarice “

I want to be clear that I’m not making a reference to anyone on this thread. That’s just my nickname for a certain prominent “conservative” who makes an idol out of “success” and the unregulated market.

[NewRomeTacitus]

Are you implying that Rush is only in the game for listening to himself talk and collecting replies for his “quiet alone times”? Hannity and O’Reilly strike me the same. Dobbs, now, takes constant hammering yet stays true (thus far). If he stays healthy to the next go-around I believe he has a chance if serious.