Behold: The $9 Billion Dollar Check That Saved Morgan Stanley
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.
That's $9,000,000,000 billion. Some quick math tells us Mitsu has invested wisely, at least so far, as their $9 billion is worth approximately $25 billion today. Pretty nice 12-month return.
----------
Subscribe To The Daily Bail By Email >>
----------
Includes Facebook, Twitter and other share options. Click the 'Email' icon when the window opens and it will give you the option of accessing your address book for sending multiple emails.
----------
Nov 23, 2009 at 11:47 PM
Reader Comments