Thursday, 16 October 2008
Down, down
The Nikkei fell around 11% during trading today, which means it is down more than 51% on its 12 month high. How long will it be before Mitsubishi UFJ's purchase of 21% of Morgan Stanley has to be called off as MUFJ decides to concentrate the money from its millions of Japanese investors in something less risky than a troubled American investment bank? A guaranteed 10% return on the putative investment is something not to be sneezed at but can MUFJ be 100% sure that their $9.2 billion is 100% safe?
Labels:
Banking Crisis
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