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Old 19th December 2007, 06:30 PM
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How long before all US Banks are in Foreign Hands?

Morgan Stanley just sold 10% of the bank to the Chinese:

http://news.bbc.co.uk/1/hi/business/7152203.stm

A number of other large investment banks have also received cash injections from sovereign wealth funds.

In October, Bear Stearns agreed to a $1bn investment from Citic Securities, which is controlled by China's government.

Meanwhile, Citigroup sold a stake worth $7.5bn to the Abu Dhabi government's investment arm.

And earlier this month, UBS revealed that it had received a $9.7bn injection of funds from the Government of Singapore Investment Corporation.
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Old 19th December 2007, 08:02 PM
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Re: How long before all US Banks are in Foreign Hands?

Quote:
Originally Posted by Rubber Duck
And earlier this month, UBS revealed that it had received a $9.7bn injection of funds from the Government of Singapore Investment Corporation.

UBS is not a US bank isn't it? If it can happen to UBS, it can happen to many other European banks.

There's a huge disaster standing before us and yet most people do not even know. I'm not sure if the injections are investments, but probably political.
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