Fed OKs request for Japan stake in Morgan Stanley

I am very worried about J-banks going after strong stakes in external banks. Don't they have enough of their own issues to deal with? And won't this increase risk to both the J consumer and economy?

This is like Japan buying Pebble Beach and Rockefeller Center in the 1980s. The wrong investment at the wrong time. Does anybody believe there is a bright future for investment banking over the mid-term?

Fed will welcome any such move whether from Japanese Bank or non-Japanese, Fed just wants to get rid of bad assets.