Financial Crisis Suit Suggests Bad Behavior at Morgan Stanley

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Financial Crisis Suit Suggests Bad Behavior at Morgan Stanley

Financial Crisis Suit Suggests Bad Behavior at Morgan Stanley

I wonder what Obama’s chosen one as the next chairman of the S.E.C., thinks of this since her firm represents Morgan Stanley?


NYT’s Deal Book-

On March 16, 2007, Morgan Stanley employees working on one of the toxic assets that helped blow up the world economy discussed what to name it. Among the team members’ suggestions: “Subprime Meltdown,” “Hitman,” “Nuclear Holocaust” and “Mike Tyson’s Punchout,” as well a simple yet direct reference to a bag of excrement.

Ha ha. Those hilarious investment bankers.

Then they gave it its real name and sold it to a Chinese bank.

We are never going to have a full understanding of what bad behavior bankers engaged in in the years leading up to the financial crisis. The Justice Department and the Securities and Exchange Commission have failed to hold big wrongdoers to account.

[NEW YORK TIMES]

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One Response to “Financial Crisis Suit Suggests Bad Behavior at Morgan Stanley”

  1. keepon says:

    …and so, tell me what your 4th headline, “Obama Picks Morgan Stanley’s Attorney to Lead the SEC,” what that REally means? …and just 1 more time: Einstein’s definition of stupidity, “…and expecting a DIFFERENT result?” One thing these guys don’t got is stupidity.

    Impeach them. Are we to wait to see if they’re going to do it again, or some more?

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