Speculation Surrounds Morgan Stanley, WaMu

Law360, New York (September 18, 2008, 12:00 AM EDT) -- Rumor and innuendo continued to move financial markets Thursday, with significant focus on one of the last two remaining independent investment banks, Morgan Stanley, and the largest savings and loan in the United States, Washington Mutual Inc.

Much of the speculation surrounding Morgan Stanley was that it was in heavy talks regarding a merger with Wachovia Corp. that could involve a steep cash injection from the China Investment Corp., the sovereign wealth fund of the Chinese government. But as is often the case with speculation, there...
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