Banking, finance, and taxes
Customers Cut Out On Morgan Stanley (MS)
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Morgan Stanley (MS) is starting to have some of the problems that hurt Lehman.
According to the FT, "Morgan Stanley lost close to a third of assets in its prime brokerage last week, amounting to hundreds of billions of dollars, as hedge funds fled after the collapse of Lehman Brothers and moved to rival banks."
Some other financial companies are taking in that money. MS may be losing, but the strong are getting stronger on Wall St., which means the market is not as close to collapse as the Treasury would make it seem.
Douglas A. McIntyre
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