Morgan Stanley managed to secure funding by selling up to 9.9% to a Chinese foreign exchange fund for about $5 billion. The deal was viewed as a huge plus by investors due to the deal allows the company to clear up its balance sheet; however, the true costs of the deal are quite high. The 9.9 percent a year translate to around $450 million of revenues gone next year, equal to approximately 18 percent of its current earnings. It also means that in 2 and half years Morgan Stanley will need to issue a large amount of new stock, diluting current shareholder value.