MS 9 Billion Dollar Preferred

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Oct 12, 2008 11:56 pm

at 10% interest...Seems after pleading with MUFG to keep them from going under, they will be paying nearly all short term profits to pay the interest on this deal... Guess when your despreate you do what it takes, but if MS earns 2.00 a share next year, thats 2.2 Billion profit before other dividends and interest, then they have to pay %900,000,000 interest on this deal..

Oct 13, 2008 7:13 pm

sounds like the shareholders and long time brokers are screwed.  but i guess its better than having equity go to 0.  heard the hedge fund guys are pissed off that mack blamed morgans implosion on the shorts which caused a squeeze on their holdings.  caused all the hedge funds to blow up and take significant losses.  if morgan gets through this i wonder how happy the institutional side will be with him moving forward.  too bad there are fewer and fewer place to go to these days.