Wednesday, Dec 19, 2007
And another $9.4 billion
Yahoo Finance: Morgan Stanley Post Loss on 4Q Writedown
Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on
Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government.
The writedown, nearly triple what Morgan Stanley warned of in November, pushed the investment house to the first quarterly loss in its 73-year history.
Posted by doomwatch @ 02:43 PM (652 views) Add Comment
9 Comments
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1. planning4acrash said...
Is this being collated anywhere? Are the expressed losses increasing exponentially? I'd assume a bell shaped curve and want to observe it to call the top of this downwards cycle, but doubt the info is being monitored in that way.
2. Orwell said...
The Times article is more informative:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3073665.ece
3. Yoss said...
Luckily China still happy to bail em out, so yet another large back with reasonable share getting sold to an Eastern SWF.
Any bets on the next big player to get bailled out?
4. hpwatcher said...
I just think these folks are being far more open & honest than anybody else.....
And this is just the start...that's what BOE said....
5. maddison said...
$40bn has been declared and Goldman Sachs predicted upto $400bn and they have been rather clever lately.
6. alan said...
How many more billions before Morgan Stanley's equity is wiped out entirely?
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