Word: stanleys
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...speculation about which struggling financial institution would be the next to disappear. British bank Lloyds was in talks to buy beleaguered U.K. mortgage lender HBOS. Washington Mutual, the U.S.'s largest thrift, put itself up for auction, and Wells Fargo and Citigroup might be interested, according to reports. Morgan Stanley appeared to be on the table too. There were murmurs the investment bank was holding conversations with Charlotte-based bank Wachovia. Chinese conglomerate Citic Group, owner of China Citic Bank, was also said to be sniffing around...
...That Morgan Stanley might be up for sale had an element of surprise to it. Analysts were generally pleased with what executives at Morgan Stanley - and Goldman Sachs for that matter - had to say in recent conference calls. Glenn Schorr, a banking analyst at UBS, wrote that both firms have strong capital and liquidity positions, and they have reduced their exposure to problem assets and "priced remaining exposures at what we think are reasonable levels" and "don't have the same concentrations risk issues that the others...
...long time coming. In the months leading up to the current market chaos, the short sellers have been on the prowl. But now the witch hunt has begun. The shorts nailed Lehman and Bear Stearns by betting that their shares would continue to fall. And now they have Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there? It's very clear to me - we're in the midst...
...Britain said it will ban all short selling of financial stocks until at least next January, while New York Attorney General Andrew Cuomo announced that he was launching an investigation into complaints of short sellers spreading false rumors about targeted companies like Lehman Brothers, AIG, Goldman Sachs and Morgan Stanley...
...supported by academics such as MIT's Paul Asquith, who has done extensive research on short sales. Asquith reviewed two years of data during which short trades were tracked by the SEC, and found that 30% of all trades are short sales. And outfits including Goldman and Morgan Stanley are no strangers to going short in their proprietary trading strategies. All the short sellers are going to do is make the market react faster, he says. "The question is, Can the short seller take a firm down? The answer is no. Not by themselves. If there is nothing fundamentally wrong...