Thursday, October 9, 2008

Big Money Boys Still Don't Trust Each Other

Trust in Morgan Stanley remains unimpacted by the laundry list of Fed/Treasury moves. First, Morgan Stanley fled the shark infested waters of Wall Street to commercial bank status. Then they signed a deal with a huge Japanese bank. All to no avail. Consider the cost to "insure" $10 million in Morgan's debt for one year.

9-10 $300,000
9-15 $450,000
9-18 $900,000
9-19 $560,000
9-22 $498,000
9-24 $790,000
10-2 $975,000
10-7 $1,800,000
10-9 $2,500,000

The big money boys trust each other less than the day Bush's minions threatened martial law to a number of Congressman.