Strange, huh, 'murkns?
See: U.S. Banks Driving Credit Crunch ON PURPOSE!!
"Morgan Stanley sells $9b stake to Mitsubishi" by Bloomberg News | September 30, 2008
NEW YORK - Morgan Stanley agreed to sell a 21 percent stake to Japan's Mitsubishi UFJ Financial Group Inc. for $9 billion, seeking to shore up investor confidence after borrowing costs climbed and its stock fell by half.
Mitsubishi UFJ, Japan's biggest lender, will buy $3 billion of common stock and $6 billion of convertible preferred stock that pays a 10 percent dividend, the two companies said in a statement yesterday.
Cha-CHING!!!
Morgan Stanley shares fell 15 percent amid a collapse in bank stocks after a $700 billion financial rescue bill failed to pass in Congress yesterday and Wachovia Corp. sold most of its assets to Citigroup Inc.
Morgan Stanley chief executive John Mack is raising capital, seeking to boost deposits, and transforming the second-biggest US securities firm into the fifth-biggest bank holding company after investors lost confidence in firms that depend on bond markets for financing. --more--"
