The U.S. investment bank Morgan Stanley on Wednesday reported an enormous write-down of mortgage-related assets and a $5 billion investment from China Investment Corp., which is owned by the Chinese government. That works out to a nearly 10 percent stake in the firm.
The write-down of assets totaled more than $9 billion. Morgan Stanley says its core business franchise is basically sound.
Copyright 2022 NPR. To see more, visit https://www.npr.org. 9(MDAzMjM2NDYzMDEyMzc1Njk5NjAxNzY3OQ001))
