Morgan Stanley deal too late?
Morgan Stanley's purchase of Saxon Capital will provide meat for its mortgage-backed securities business. This strategy seems to have been inspired by the actions of Lehman Brothers a few years ago. The deal also provides a fresh example of the way innovations in financial services spread throughout the market, confirming Wall Street's adherence to a maxim quoted in Liar's Poker: "God gave you eyes, plagiarize." The question here: Did Morgan Stanley wait too long to follow a good idea?
> Read this article from the Investment Dealers' Digest (For FierceFinance readers)
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