Sep 20, 2008
Winners and losers
Winners like Morgan Stanley and Goldman Sachs and losers like the American taxpayer.
"An extraordinary week in Wall Street history drew to a close with one of the biggest two-day rallies on record.
"Financials, whose violent movements have consistently led the wider market over the week, gained the most from the prospect of a vast government intervention attempting to ease anxiety over near unprecedented turmoil in the financial system."
"An extraordinary week in Wall Street history drew to a close with one of the biggest two-day rallies on record.
"Financials, whose violent movements have consistently led the wider market over the week, gained the most from the prospect of a vast government intervention attempting to ease anxiety over near unprecedented turmoil in the financial system."
"Morgan Stanley and Goldman Sachs, whose analysts advised clients to buy each other’s shares on Friday, jumped 20.7 per cent to $27.21 and 20.2 per cent to $129.80, respectively. That pared their losses over the week to 29.4 per cent and 17.7 per cent.
"The later remained in talks with China Investment Corp and Wachovia, which climbed 29.3 per cent to $18.75.
"Meanwhile, Washington Mutual – particularly hard hit in recent sessions and which was continuing on Friday its search for a buyer – soared 42.1 per cent to $3.75.
"Over the week, it has gained 55.7 per cent."