Rivals bet against Morgan Stanley in September
Monday, November 24, 2008 : PermalinkForbes – Major Wall Street firms placed large bets against Morgan Stanley using credit-default swaps, two days after Lehman Brothers Holdings Inc sought bankruptcy protection, the Wall Street Journal said, citing trading records.
The firms included Merrill Lynch & Co, Citigroup Inc, Deutsche Bank AG and UBS AG, according to the paper.
The paper said that a close examination of the trading revealed that the swaps played a critical role in magnifying bearish sentiment about Morgan Stanley.
Tags:
administrative-services, alan-greenspan, appaloosa-management, arthur-sulzberger, bankruptcy-code, bias, calendar-year, collateralized-debt-obligations, contention, curbs, journalism, lehman-brothers-holdings, lehman-brothers-holdings-inc, loans, onshore, pergam-finance, sailfish-capital-partners-llc, summer-intern
