Not everyone likes the Wachovia deal. Plus, the sky is falling at BofA’s NY tower
Actually, a lot of people don't like the talked-about potential Wachovia-Morgan Stanley merger, but Portfolio's Felix Salmon expresses some serious reservations that actually make a lot of sense. Including:
if the two just enacted a plain-vanilla merger, the investment bank [i.e. Morgan Stanley], with its trillion-dollar balance sheet, is entirely capable of taking the commercial bank down with it into bankruptcy.