- M. Stanley Looks to Sell China Investment Bank Stake
- Fed's Bullard: Tighten Only When Recovery's 'Solid'
- Ida Downgraded to Category 1 Hurricane
- Kraft to Formalize Hostile Cadbury Bid on Monday
- GE, Comcast Agree on NBC Universal Valuation
- Hottest Zip Codes for Home Prices
- US Home Values Follow Sales Higher, For Some
- China Urges US to Control Deficit to Stabilize Dollar
- US Health Care Reforms Face Tough Path in Senate
- Tamminen: Why Does Oklahoma Want To Drown New York?
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
MOST SHARED
- Sweeping Health Care Overhaul Bill Passes House
- US Becomes Top Country Brand Under Obama: Survey
- BofA Board in Civil War Over Lewis' Succesor
- Framed for Porn – By a PC Virus
- Kraft to Formalize Hostile Cadbury Bid on Monday
- What Stocks to Buy Amid Health Care Overhaul: Strategist
- Obama Delays Start of Asia Trip to Attend Memorial
- GE, Comcast Agree on NBC Universal Valuation
powered by digg
Morgan Stanley Says Financial Crisis Will Last: Report
Topics:Economy (U.S.) | Economy (Global) | Credit | Germany | Banking
Sectors:Financial Services
Companies:Morgan Stanley
Text Size 
The financial crisis will probably not end until next year or even 2010, Germany's Handelsblatt newspaper quoted Morgan Stanley co-President Walid Chammah as saying in a preview of its Monday edition.
Chammah also expected more banks to fall victim to the crisis, the paper said.
"We will likely see more insolvencies among small U.S. regional banks that have focused on mortgage business," the paper quoted him as saying.
Chammah also said return-on-equity rates of 25 percent were a thing of the past for the investment banking industry, the paper reported.
"I estimate returns in the industry will be more like 15 to 20 percent as a rule," the paper quoted him as saying.
Copyright 2009 Reuters. Click for restrictions.
Print
Email
- Rumors abound that Oprah will leave her show to start a new network. What would this mean for daytime TV?
- A private equity specialist sponsored a stand-up comedy troupe in New York to prove that CEOs can, in fact, be funny.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- Did Hideki Matsui’s performance make it more likely that the Yankees will pay to have him back?
- Which wines should you bring—or serve—with holiday meals this year? Ask a connoisseur.
- Two competitors in this year’s World Series of Poker in Las Vegas have stories fit for Hollywood.
MORE FROM CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes