Thursday, September 18, 2008

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


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.


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