WSF Headline Roundup - 10/9/08 - Morgan Stanley under assault; Schwarzenegger says may not need...

Gold Jumps to 11-Week High as Stocks Plunge Spurs Haven Demand Oil Falls to 11-Month Low as Demand Concern Outweighs OPEC At Morgan Stanley, Outlook Darkens; Stock Tumbles 26% - Wall Street Journal ...Shares of the financial behemoth sank 26% Thursday as concern escalated among investors about its future and other banks. Morgan Stanley depends on heavy borrowing and holds risky securities. The stock has plunged 77% this year to a 10-year low. Hedge-fund clients have pulled about one-third of their money from the firm in recent weeks. The cost of protecting against a Morgan Stanley default has surged. The firm can't issue new debt. Morgan Stanley is hoping to ease the pressure with a planned $9 billion investment in the firm by Japanese bank Mitsubishi UFJ Financial Group Inc., set to close Tuesday. Investors are worried... [read full story]