Wednesday, December 19, 2007

Investment banks

Morgan Stanley (MS 48.07) writes down $9.4 billion for the 4th quarter, and gets $5 billion from China for a 9.9% stake. The market now should re-asses Goldman Sachs (GS 201.51) who made $11.6 billion last year, that sold off on that news? Only investors scared of the future would of sold GS on that news.