Andrew Leonard tallies the latest round of cash infusion into Wall Street from state investors:
- Citigroup: $7.5 billion from Abu Dhabi Investment Authority and $6.88 billion from Government Investment Corp. of Singapore.
- Morgan Stanley: $5 billion from China Investment Corp.
- Merrill-Lynch: $5 Billion from Singapore's Temasek Holdings, $6.5 from Kuwait Investment Authority, $2 billion from Korean Investment Corporation
- Bear Stearns: $1 billion from China Investment Corp.
- UBS: $10 billion from the Government Investment Corp. of Singapore.
and has many insightful things to say about how excessive reliance on market forces has brought about the self-destruction of financial capitalism.