Morgan Stanley Predicts Worse Yet to Come

Submitted by kvaughn on Wed, 08/25/2010 - 20:05

The latest on the economic front from Morgan Stanley:

“Governments will impose a loss on some of their stakeholders,” Arnaud Mares, an executive director at Morgan Stanley in London, wrote in a research report today. “The question is not whether they will renege on their promises, but rather upon which of their promises they will renege, and what form this default will take.” The sovereign-debt crisis is global “and it is not over,” the report said.

As we had predicted...

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