You can’t tell your players without a scorecard, so here is a quick list of the major U.S. investment banks and the Asian investor who has made a recent cash infusion:
|Morgan Stanley||China Investment Corp||$5b|
|UBS||Singapore Investment Corp||$9.75b|
The interesting thing here, of course, isn’t the dollars, per se. It’s the speed with which this all came together, given the high-profile targets and the Asian capital, and how blithely usually skittish U.S. politicos gave it a pass. What happened to the ports scandal of a few years ago? Isn’t financial data more precious than ports? How long until foreign control of the U.S. (investment) banking system becomes a political crises this election year?
Don’t get me wrong. I’m not saying this needs to be a scandal, at least not, bank misbehaviors aside, the investments themselves. But it is remarkable how dull we all are if we think that this won’t eventually cross from economic to political.
Updated: Error in prior version.