October 10, 2008
What Will Be The First Nationalized Bank?
Posted by David Zaring
Felix Salmon makes the case for Morgan Stanley, which has been getting notably hammered since the shorts were unleashed. If accurate, expect bitter tears to roll down the cheeks of all former Lehman employees at the announcement. Morgan Stanley is unlikely to be alone, though - the financial sector is getting so beat up that the bailout means that Treasury can buy 55% of it - and that percentage gets better every day.
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