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COMMENTS: So Far So Good
Both NBC's Lisa Myers and ABC's Betsy Stark (embargoed link) followed up on yesterday's CBS story by Anthony Mason on the financial problems of the huge investment banks on Wall Street. Together, Citigroup, Merrill Lynch, Morgan Stanley, UBS and Bear Stearns have raised $46bn in capital from foreign investors by selling part-ownership of their businesses. ABC's Stark quoted the Wall Street maxim: "When someone loses money, someone else is making it." For that, in order, read banks and foreign governments. "So far foreigners buying chunks of Wall Street has not triggered the same political uproar as a Dubai company's ill-fated effort to take over operation of US ports," NBC's Myers remarked.
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