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Morgan Stanley to merge?

baby_boomer Posts: 3,883 Forumite

18 September 2008 at 8:01AM in Debate House Prices & the Economy

Telegraph

It's like watching a row of dominoes going down. Except the stakes are higher.

"Morgan Stanley is holding talks with American retail and mortgage bank Wachovia about a possible merger. The investment bank, whose shares fell as much as 44pc yesterday, is keen to find a commercial bank with a significant deposit base in order to increase its access to capital in light of the continued credit crunch.The talks are just one of a number of discussions under way in the US banking sector, with Washington Mutual (WaMu) now firmly up for sale..."

Lets hope that the end of individual investment banks will carry the seeds of a more cautious approach to banking in the future.

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