Morgan Stanley isn't in crisis mode anymore, but the Wall Street firm is still struggling to dig out of a slump.
Adding to woes from real-estate and other basic businesses: The recent rebound in its bond prices, generally thought of as a positive, will actually hurt the company's bottom line.
Because of the accounting treatment on some bonds issued by Morgan Stanley before the financial crisis erupted, the New York company is expected to take a hit of $1.2 billion to $1.7 billion on the bonds when it reports quarterly results later this month, according to people familiar with the ...
http://online.wsj.com/article/SB123921022970001775.html
I thought, they were supposed to show a loss with regards to toxic assets...
Adding to woes from real-estate and other basic businesses: The recent rebound in its bond prices, generally thought of as a positive, will actually hurt the company's bottom line.
Because of the accounting treatment on some bonds issued by Morgan Stanley before the financial crisis erupted, the New York company is expected to take a hit of $1.2 billion to $1.7 billion on the bonds when it reports quarterly results later this month, according to people familiar with the ...
http://online.wsj.com/article/SB123921022970001775.html
I thought, they were supposed to show a loss with regards to toxic assets...
