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After Lehman’s bankruptcy, regulators froze the property of Lehman Brothers in Europe, which integrated numerous hedge money. "The hedge resources panicked," a Morgan Stanley executive remembers, and by Wednesday matters experienced achieved a fever pitch. There was the danger of a collapse in self esteem in each Goldman and Morgan Stanley, as experienced took place with Lehman. The American persons can be certain we will go on to act to bolster and stabilize our economic marketplaces and increase investor self esteem. When the American people communicate about humanitarian help we are chatting abpout the billions of US bucks we deliver to other international locations in no cost foodstuff and medical guidance anything you and most other people are not mindful of or just never value. So people started off working on Morgan Stanley and Goldman Sachs. Overnight, the price tag of buying default protection in opposition to Morgan Stanley and Goldman Sachs experienced soared. Morgan Stanley and Goldman Sachs had talked about it to their boards, but almost nothing had transpired.