La banca de inversión sigue trapeando el piso

Nuevos datos de Morgan Stanley y una pronunciada pérdida confirman la decadencia del viejo modelo financiero globalizador, voraz y golondrino.

Morgan Stanley suffers $2.3 billion loss
Roiled by broader market turmoil, the Wall Street firm reported much worse-than-expected results in latest quarter; shares fall on the news.

By David Ellis, CNNMoney.com staff writer
Last Updated: December 17, 2008: 9:42 AM ET


NEW YORK (CNNMoney.com) -- Morgan Stanley reported a massive $2.3 billion loss for the fourth quarter Tuesday, far worse than what analysts were expecting.

The nation's No. 2 investment bank posted a net loss of $2.3 billion, or $2.24 a share, during the fourth quarter. Including results from discontinued operations, the company said it lost $2.34 a share.

Either way, the results were substantially worse than what analysts were anticipating. Consensus estimates were for a loss of $298 million, or 34 cents a share, according to Thomson Reuters.

Just a month ago, analysts were widely expecting Morgan Stanley to report a narrow profit for the quarter. But they steadily lowered their earnings expectations for the firm given the ongoing volatility in the financial markets.