Morgan Stanley is the fourth big business bank that needs help to guarantee continuity. Morgan Stanley has been negotiating with US Wachovia for several days now. Today, Citic (China) also joined the negotiations.
If Morgan Stanley fuses, Goldman Sachs will be the only self operating US business bank left. Lynch en Stearns already announced a takeover earlier this week.
Stock markets soar
Stock markets worldwide soar after the US government has announced to take over control at mortgage giants Fannie Mae and Freddie Mac. Together both companies are good for more than 50% of all US mortgages.
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