BUSINESS
01/15/2009 05:12 am ET Updated May 25, 2011

No Cheer For Investment Banks: Morgan Stanley, Goldman Sachs To Report Losses

Morgan Stanley's expected to ring up losses of about $1 billion when it reports its fiscal fourth-quarter earnings Wednesday.

Continued fretfulness in the stock market magnified by the latest $50 billion scandal with New York money manager Bernard Madoff, and a seizing up in credit markets, has found Morgan CEO John Mack slammed.

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