Will this qualify as an international banking conspiracy?
Mitsubishi UFJ Financial Group, Japan’s largest bank, said on Monday it planned to take a stake of up to one-fifth in U.S. investment bank Morgan Stanley as part of a strategic alliance.
Mitsubishi UFJ Financial Group (MUFG) said it will buy 20 percent of the common stock of Morgan Stanley. It said it would decide on the amount it would pay after carrying out due diligence.
Buying 20 percent of Morgan Stanley would cost MUFG about $6 billion based on its total market value of $30 billion.
Morgan Stanley has changed into a commercial bank so that it is eligible for greater financial aid, ie more taxpayer bailouts from Paulson, and Japan wants part of the bailout.
Morgan Stanley has been under pressure to raise capital amid a sharp fall in its share price.
What international banking conspiracy?
How will Barack Obama, John McCain and our other gutess wonders respond to protect American interests?
Or will all of them continue to toss you and me under the bus?