Investment bank Morgan Stanley said Wednesday it sold a portion of itself to China Investment Corp., an investment arm of the Chinese government, for $5 billion to raise capital after taking $9.4 billion in writedowns on mortgage-related investments. All because of poor lending practices.
Sphere: Related ContentThe Federal Reserve is providing $20 billion in loans to banks as part of an unprecedented auction process to ease a global credit crisis and make sure financial institutions can keep lending to their customers. Shady and unscrupulous lending practices are what got them in trouble in the first place!
Sphere: Related ContentCongressman Paul sits down with Glen Beck on CNN to talk about many subjects including the US presence in the middle east, Monetary policy, and also death threats made to Glenn Beck by supporters of Ron Paul.
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