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Sunday Spectacle CCXVIII

2008 Redux: Mitsubishi UFJ's $9 Billion Cheque to Save Morgan Stanley From Andrew Ross Sorkin:As detailed in Too Big to Fail: How Wall Street and Washington Fought to Save the Financial System — and Themselves, Morgan Stanley received a $9 billion investment from Mitsubishi UFJ in the fall of 2008 that kept the firm from collapsing. The payment was supposed to be wired electronically, but because it needed to be made on an emergency basis on a holiday, Mitsubishi cut a physical check, perhaps the largest ever written.
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As explained in Andrew Ross Sorkin's Too Big to Fail, Morgan Stanley received a $9 billion investment from Mitsubishi UFJ in the fall of 2008 that kept the firm from collapsing. The payment was supposed to be wired electronically, w...

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