Chinese money to rescue Wachovia and Morgan Staley?
Alan Hershey
Sep. 18, 2008

After Lehman and Merill, it is time for Wachovia. Wachovia, the troubled regional lender may go belly up anytime. Morgan Stanley is in preliminary merger talks with Wachovia,, exploring other potential deals in an effort to avoid becoming the next victim of the credit crunch.

Interestingly it is Chinese4 money that will possibly buy out Wachovia and Morgan Stanley and save another bad apple to fall from the tree.

Morgan The bank is also in close contact with a leading shareholder, China Investment Corporation, which owns a 9.9 per cent stake.

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