The Morgan Stanley investment bank is considering merging with the Wachovia commercial bank. The point is for the investment bank to have lots of capital on hand in the form of consumers’ deposits. This would return the two back to their structure during the Great Depression, when the two split. Uh, oh, there’s the D word, and we’re not even officially allowed to say the R word yet! Let’s just say Wall Street is getting completely rewritten this week, and while it’s way too early to tell what this means to the average consumer, there will be repercussions. Blood, too, probably.
Morgan Stanley Ponders Wachovia Merger
By Ben Popken September 17, 2008
- well that's settled Morgan Stanley To Pay $2.6B To Settle Charges Of Selling Troubled Mortgages Leading Up To The Financial Crisis
- Pushing loans? Did Morgan Stanley Advisors Push Customers Into Unneeded Loans?
- alphabet soup The Consumerist 101 Guide To Understanding Your Financial Regulators
- time to pay up Morgan Stanley To Pay $3.2 Billion To Settle State & Federal Mortgage Cases
- happy new year Morgan Stanley Fires Employee Accused Of Stealing Data From Up To 350K Clients, Posting Some Info Online