Morgan Stanley, Wachovia- Dumbest Merger Proposal In History

"Even Morgan Stanley and Goldman Sachs, the two last titans left standing on Wall Street, are no longer immune. To the surprise of executives within those firms, and their rivals, the stocks of these powerful companies were drawn into the crisis of investor confidence on Wednesday. Morgan Stanley, whose stock fell almost 25 percent, was considering a merger with Wachovia or another bank to help shore up its finances. Goldman Sachs stock fell almost 14 percent, and it had to rebuff rumors that it was seeking a capital infusion."