Morgan StanleyÆs Roach gives Paulson Plan a B-minus
ôI would have liked to have given it an A+,ö says Morgan Stanley AsiaÆs chairman, ôbut it deals with issues sub-optimally.ö
Stephen Roach, chairman of Morgan Stanley Asia, says the US governmentÆs Troubled Asset Recovery Plan Tarp, aka the Paulson Plan to bail-out the finance sector to the tune of $700 billion, deserves a grade of B-.
He spoke yesterday at the Hong Kong Investment Funds AssociationÆs annual conference, a get-together for executives in the local retail funds industry. Planned months in advance, his prepared speech was ditched in favour of a quick assessment of Tarp, announced on Sunday night...
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