The Redistribution Of Assets Continues

For those financial institutions still in possession of sound balance sheets, the terms of which they have acquired some of their rivals could almost be considered a fire sale. At the front of this bewildering array of actors, filling the gap left by the still-smarting sovereign wealth funds, comes the Japanese. This week Nomura Holdings and MUFG picked up the overseas operations of Lehman Brothers and a major stake in Morgan Stanley, respectively. Meanwhile, late Thursday night a deal for beleaguered US bank Washington Mutual (WaMu) finally came together. The government shut the bank down, allowing JP Morgan Chase to

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