Word: morgans
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Dates: during 2000-2009
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...simply responding to calls to stop the slide in certain stocks - Morgan Stanley CEO John Mack put in a personal call to the SEC - isn't necessarily the best policy. Short sellers, as anyone in finance will tell you, often provide very useful early signals about the weakest players in the market. And there is little rigorous data on whether bans on short selling broadly, or specific modifications to how it's conducted (like whether a stock must tick up before a short can go in), truly reduce volatility in markets. Little wonder that many market observers, including former Federal...
...they're not shy about taking advantage of the current weakness of their American competitors in a fight for international market share. On Sept. 22, Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank, announced plans to pay up to $9 billion for a 10% to 20% stake in Morgan Stanley, one of two major U.S. investment banks left standing. The announcement capped a frantic few days during which Morgan Stanley CEO John Mack sought a saving dose of capital from Wachovia, a U.S. bank, and the China Investment Corp., Beijing's $200 billion sovereign wealth fund, which had already...
...come at a worse time for South Africa's northern neighbor, Zimbabwe, where the South African President painstakingly brokered a power-sharing compromise aimed at ending the country's prolonged political crisis. Signed a week ago by Zimbabwe's autocratic president, Robert Mugabe, and his bitter enemy, opposition leader Morgan Tsvangirai, the deal has been hanging by a thread. If it holds, the Zimbabwe deal could be Mbeki's most enduring legacy, despite the criticism he has drawn for a policy of "silent diplomacy" that was seen by many to appease Mugabe. But it could also be his final defeat...
...Hank” Paulson, proved unable to bring lasting calm to the market: Neither lower interest rates, nor greatly expanded liquidity helped thaw frozen credit markets. Even after brokered shotgun weddings like those of Merrill Lynch and Bank of America or Bear Stearns and JP Morgan Chase, what Professor Kenneth Rogoff once called the “flagship” American sector, the financial services industry, seems to have no bottom...
...aimed at supporting China's leading financial institutions at a time of global turmoil," says Jing Ulrich, chairman of China securities at JPMorgan in Hong Kong. It's another way of saying to CIC's Gao Xiqing, If you come home from New York having increased our stake in Morgan Stanley, it had better be the sweetest deal anyone in Beijing has ever seen...