Story display


ID:

615

Date:

2011-08-22

Headline:

Morgan Stanley Speculating to Brink of Collapse Got $107 Billion From Fed

Reporter's name:

Bradley Keoun

Delay/denial:

No

Lawsuit:

Yes

Fees:

No

Media outlet:

Bloomberg

City:

New York, NY

Summary:

Morgan Stanley, a preeminent American bank, was borrowing more than it let on to investors in the aftermath of the 2008 financial crisis - obtaining over $107 billion to shore up its cash reserves as hedge funds withdrew over $128 billion of dollars in two weeks. Bloomberg used the Freedom of Information Act to obtain records from the Federal Reserve; the Financial Crisis Inquiry Commission also released documents showing the specific timing of the withdrawals.

Keywords:

Morgan Stanley, Federal Reserve, Bloomberg News, hedge funds, Financial Crisis Inquiry Commission, Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup, Credit Suisse Group AG, Lehman Brothers, Lehman Brothers Holdings Inc., bankruptcy, credit

URL:

http://www.bloomberg.com/news/2011-08-22/morgan-stanley-at-brink-of-collapse-got-107b-from-fed.html


Agencies:

FRB

States:

NY

Categories:

business


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