China gets stake in Morgan Stanley

Posted by | December 20, 2007 | Current Affairs | No Comments

In what could be a new turn of events China has reportedly injected around $5million dollar into Morgan Stanley as Morgan Stanley reported an all time low of $9.4 billion as losses in subprime mortgages. This move though had saddned many associated with Morgan Stanley had increased its stocks to around 4 percent, as many investors found hope in Morgan Stanley due to huge write downs and with China Foreign Exchange flowing in. This seems to have raised hopes to many and they hope that it would be the beginning of the end of the Subprime Mortgage mess.

Another news is that unlike his counterparts Morgan Stanley’s Chief Executive John Mack decided not to step down but instead to forego his bonus. These may be tiring time for the executives in Morgan Stanley but hopes are still there with the incoming of fresh funds.

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