49 % of Morgan's wealth management biz, plus $2.7B in cash? I like the deal. Pandit now doesn't have to manage this division and can focus elsewhere.
With a 20% one day drop; i think the selling is a little overdone. However, the plunge could continue into options expiring on Friday. Once we get some real news on Friday and stop all the non sense rumors and speculation we can start moving up. I started buying chunks in C and BAC today. Glad to see we are retesting lows early in the year so we can all start moving on to better times sooner. GL and hopefully we start seeing equity improvement over the course of 2009!!!