This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dig Deeper on Morgan's Red Star Bailout

There used to be a quaint little saying about how it will rain sulfuric acid in the canyons of Wall Street before a House of Morgan was run by communists. Well, you can read here all about how CEO John Mack is now Great Leader of the People's Republic of Morgan.

And when you go outside today, don't forget your umbrella.

But what The Business Press Maven is more concerned with this morning is Chairman Mack's claim that but for one particular trade, Morgan would be just fine and would, presumably, not have fallen into the hands of Red China, making it the latest investment-banking domino to do so.

Because some of the same business media that are busy portraying him as valiant and altruistic in not granting himself untold millions in bonuses after a year featuring untold billions in losses, are simply passing along his claim that but for one trade, everything would be fine inside Mainland Morgan.

The Financial Times is a prime example of this subprime thinking .

First off, after announcing larger-than-expected writedowns of nearly $10 billion (which is a lot of money, more than The Business Press Maven makes in two entire years), the FT was content to frame the reach-out to China as something done from a position of strength: "John Mack, chairman and chief executive, said the $5bn capital injection from China Investment Corporation would bolster its already strong balance sheet and strengthen its deep ties in China."
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
C $55.37 0.00%
MS $39.00 0.00%
UBS $21.87 0.00%
AAPL $126.44 0.00%
FB $87.28 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs