Resolution Trust Corporation [RTC], Financial Globalization [FG] And People's Republic Of China [中华人民共和国] To The Rescue Of Wall Street?

"Morgan Stanley is in talks to sell a stake of up to 49 per cent to China Investment Corp, the state-owned investment fund, as part of the Wall Street firm’s efforts to ensure its survival and reverse a slump in investor confidence.

People close to the discussions said the investment bank was exploring the stake sale to CIC as an alternative to a merger with Wachovia, the troubled US lender that approached Morgan Stanley on Wednesday." ...

Francesco Guerrera and Henny Sender "Morgan Stanley in talks with CIC" Financial Times September 18, 2008

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Dani Rodrik and Arvind Subramanian "Why Did Financial Globalization Disappoint?" March 2008

M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.













Herzog and de Meuron. Allianz Arena, Munich, Germany, European Union.

[Click on image for enlargement.]

Photo credit: Via Wikimedia Commons. Some rights reserved. 2008.