I would assume the interest bill could be adequately serviced....

I would assume the interest bill could be adequately serviced.

We tend to forget that Morgan Stanley is not a small, ignorant, short sighted fish in global finance. Institutions such as these are experts in effectively turning $1 dollar into 2 through savvy, longsighted investment decisions. Companies like this invest in potential, not duds. It has done this since 1854.

Unfortunately for ABS investors, we live in a time where individuals make judgements based on appearance rather than fact. Current investors should take comfort that organisations like MS do not make investment decisions based on what is broadcast on the 6 o'clock news or what an analyst from U*S Warb*rg (with a maximum 3 year view)dictates.

ABS is in an unfortunate situation at the moment, however earnings prospects are good and strengthening of financial position is more than obtainable when backed by a professional asset manager.

Recommended Dollar Cost Average between $1 and 50 cents P/S with a 5 year view.