Morgan Stanley and JPMorgan Chase & Co. are expected to lead General Motors Co.’s initial public offering that may have the U.S. reducing its ownership as soon as this year, people familiar with the matter said, reports Bloomberg.
At least five investment banks competed to handle the sale, which may be worth as much as $12 billion, making it the second- largest in a decade. You have to think that Goldman was among the five, or if they weren't it's because they know they are persona non grata in the land where Jimmy "JPMorgan Chase" Dimon whispers in President Obama's ear.
Morgan Stanley's White House connections include Erskine Bowles, co-chair of Obama's Deficit Commission. Bowles sits on the board of Morgan Stanley. His wife is on JP Morgan's board.
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