Free Republic 4th Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $28,695
Woo hoo!! And the first 32% is in!! Thank you all very much!! God bless.

Keyword: morganstanley

Brevity: Headers | « Text »
  • Morgan Stanley begins layoffs in credit division

    04/19/2016 2:58:32 PM PDT · by SeekAndFind · 4 replies
    Yahoo Finance Via Reuters ^ | 04/19/2016 | Olivia Oran and Richard Leong
    Morgan Stanley this week cut staff covering short-term credit and regional broker-dealers, after a quarter in which the bank posted a 42 percent drop in bond trading, several sources told Reuters. The sources blamed the shakeup at the No. 6 U.S. bank by assets on tougher capital rules, mounting competition from faster and cheaper trading on electronic systems and expectations that the Federal Reserve will raise U.S. interest rates next week for the first time in nearly a decade. The decision to downsize followed one of Morgan Stanley's slowest quarters for bond trading since the global credit crunch. The bank...
  • Something Very Disturbing Spotted In A Morgan Stanley Presentation

    One of the most surprising comments this year came from a closed session on fintech where I sat next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe. They felt below (1.5)% depositors would start to hoard notes, leading to yet further complexities for monetary policy.
  • Ted Cruz's Closest Counselors Are Neocons

    01/31/2016 5:26:31 PM PST · by VitacoreVision · 84 replies
    The New American ^ | 15 October 2015 | Joe Wolverton, II, J.D.
    There's a lot about Ted Cruz that should worry constitutionalists considering voting for the senator in the presidential election of 2016.Recently, Infogram published brief but illuminating biographies of several of Cruz's key foreign policy advisors. The information disclosed in these revelations could trouble many constitutionalists otherwise keen on the senator and who rely on him to restore the rule of law to the White House.The first person highlighted in the article is the chairman of Cruz's foreign policy team, Chad Sweet.Sweet's professional and political background betrays Cruz's claims of being someone who promises "not to continue going in the same...
  • Morgan Stanley's CEO just uttered the 3 words every employee dreads: Lower Cost Centers

    01/19/2016 1:36:44 PM PST · by SeekAndFind · 11 replies
    Business Insider ^ | 01/19/2016 | Portia Crowe and Matt Turner
    Morgan Stanley just announced fourth-quarter earnings, and it is providing detail to investors on a cost-saving plan called Project Streamline. During a conference call, CEO James Gorman uttered a sentence that will most likely make the bank's staff shudder. "Too many employees based in high-cost centers are doing work that can sensibly be done in LOWER-COST CENTERS," he said. "Now is the time to tackle head-on our infrastructure costs." The mention of "lower-cost centers" most likely means the bank is looking to shift jobs overseas or to low-cost locations in the US. His comments echo a line in his presentation,...
  • UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

    09/28/2015 5:06:30 PM PDT · by SkyPilot · 83 replies
    Zero Hedge ^ | 28 Sep 15 | Tyler Durden
    With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators. That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver...
  • Experts think jobs on Wall Street will take a plunge in 2016

    12/13/2015 9:56:03 AM PST · by SeekAndFind · 5 replies
    New York Post ^ | 12/12/2015 | By John Aidan Byrne
    There's a pall over the financial markets this holiday season, and it has little to do with the shortage of daylight this time of year. The lifeblood of the street -- bonuses -- will be cut, and if you survive, there's no guarantee of a better 2016. That's because Wall Street is bracing for merciless job losses that could total 100,000 in the US alone by June. By this estimate, Wall Street head count in New York City -- some 170,000 today -- could shrink by as much as 17,000, with the downsizing hitting everyone from million-dollar backers to middle-class...
  • REPORT: Morgan Stanley is cutting 1,200 staff

    12/08/2015 8:00:08 AM PST · by SeekAndFind · 1 replies
    Business Insider ^ | 12/07/2015 | Matt Turner
    The news on Morgan Stanley's job cuts continues to roll in. The US bank is cutting 1,200 staff, including about 470 front-office staff in its fixed income and commodities business, according to Michael J. Moore at Bloomberg, who cited a person briefed on the matter. Mark Lane, a spokesman for the bank, said the bank would take a $150 million charge in the fourth quarter, according to the Bloomberg report. Business Insider reported Monday that emerging markets sales and trading was one of the areas hardest hit by the cuts.
  • Meet the 41 Companies That Donate Directly to Planned Parenthood

    07/22/2015 1:21:17 AM PDT · by Morgana · 26 replies ^ | July 21, 2015 | Melissa Quinn
    In the wake of two videos allegedly showing Planned Parenthood officials discussing the sale of aborted fetal body parts, Republicans in Congress are working to ensure that Planned Parenthood is stripped of its federal funding. However, it’s not only the government that fills Planned Parenthood’s coffers. According to 2nd Vote, a website and app that tracks the flow of money from consumers to political causes, more than 25 percent of Planned Parenthood’s $1.3-billion annual revenue comes from private donations, which includes corporate contributions. 2nd Vote researched the corporations and organizations to find which supported Planned Parenthood and found that more...
  • Here’s Why Morgan Stanley Says the S&P 500 May Near 3,000

    04/10/2015 8:05:43 AM PDT · by SeekAndFind · 3 replies
    Financial Advisor ^ | 04/10/2015
    The Standard & Poor’s 500 Index rally isn’t over and the gauge could jump 50 percent more by 2020 as the U.S. economic recovery heads for a record winning streak, according to Morgan Stanley. A slower though sustained period of growth could help the equity benchmark gauge peak near 3,000, according to a report dated today. The world’s largest economy, which began recovering in July 2009, may continue growing for five years or more, making it the longest period of expansion, Morgan Stanley said. The S&P 500 closed at a record 2003.37 last week. Three rounds of stimulus have helped...
  • Here Are The 379 Companies Urging The Supreme Court To Support Same-Sex Marriage

    03/06/2015 8:36:21 AM PST · by GIdget2004 · 94 replies
    Huff Post ^ | 03/05/2015 | Alexander C. Kaufman
    Big business has come out in favor of same-sex marriage. Exactly 379 corporations and employer organizations urged the Supreme Court to strike down state bans on gay marriage, according to a friend-of-the-court brief obtained by The Huffington Post. The document was expected to be filed late Thursday morning. “Employers are better served by a uniform marriage rule that gives equal dignity to employee relationships,” reads the brief, filed by global law firm Morgan Lewis. “Allowing same-sex couples to marry improves employee morale and productivity, reduces uncertainty, and removes the wasteful administrative burdens imposed by the current disparity of state law...
  • Wall Street Pays Bankers To Work in Government and It Doesn't Want Anyone to Know

    02/12/2015 2:19:12 PM PST · by Lorianne · 8 replies
    New Republic ^ | 04 February 2015 | David Dayen
    Citigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi, Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these "golden parachutes" ensure more financial insiders in policy positions and favorable treatment toward Wall Street.''
  • Major corporations funding “gay” indoctrination in elementary schools across America.

    12/29/2014 7:27:53 AM PST · by massmike · 59 replies ^ | 12/29/2014 | n/a
    It's every parent's nightmare, but true: Major U.S. corporations are funding a campaign of sophisticated, psychologically intrusive "gay" indoctrination programs targeting very young children in elementary schools across America. It’s part of a very well-planned and well-funded effort to reach children as young as possible without their parents’ intervention. The national program, called “Welcoming Schools”, skillfully works on the minds of young children in three ways: (1) Introducing the concept of homosexuality to children. (2) Telling them that homosexuality is normal and natural. (3) Telling them that their parents or friends who portray homosexuality in a less than positive way...
  • Morgan Stanley and New York Life Sponsor HAMAS-tied CAIR Banquet

    04/21/2014 6:43:59 AM PDT · by LSUfan · 3 replies
    Shariah Finance Watch ^ | 21 April 14 | Unknown
    Morgan Stanley and New York Life recently sponsored a banquet held by the Council on American Islamic Relations (CAIR). CAIR was named as an unindicted co-conspirator in the Holy Land Foundation trial, the largest successful terrorism financing prosecution in US history. In that trial, CAIR was identified as a Muslim Brotherhood front group and an affiliate of HAMAS. In addition, in 2008, the FBI broke off relations with CAIR due to its ties to HAMAS, an officially-designated Foreign Terrorist Organization (FTO).
  • The Farce Is Complete: Blythe Masters Joining CFTC

    02/06/2014 5:20:36 PM PST · by CincyRichieRich · 8 replies
    Zero Hedge ^ | 2-6-14 | Tyler Durden
    We thought today's newsflow and "market action" ranked pretty high on the absurd surrealism scale. And then we saw this. BLYTHE MASTERS TO JOIN CFTC GLOBAL MARKETS COMMITTEE JPMORGAN’S BLYTHE MASTERS TO JOIN CFTC ADVISORY COMMITTEE CFTC SPOKESMAN COMMENTS ON BLYTHE MASTERS JOINING COMMITTEE That's right - you read it correct: "Blythe Masters, head of JPMorgan Chase & Co.’s commodities division, is joining an advisory committee of the U.S. Commodity Futures Trading Commission, said Steve Adamske, a spokesman for the regulator. Masters, 44, was invited by acting Chairman Mark Wetjen to sit on a global markets committee at the Washington-based...
  • Too Big To Fail Banks Are Taking Over As Number Of U.S. Banks Falls To All-Time Record Low

    12/07/2013 10:37:20 AM PST · by SeekAndFind · 21 replies
    TEC ^ | 12/06/2013 | Michael Snyder
    <p>The too big to fail banks have a larger share of the U.S. banking industry than they have ever had before. So if having banks that were too big to fail was a "problem" back in 2008, what is it today? As you will read about below, the total number of banks in the United States has fallen to a brand new all-time record low and that means that the health of the too big to fail banks is now more critical to our economy than ever. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left, and that number continues to drop every single year. That means that more than 10,000 U.S. banks have gone out of existence since 1985. Meanwhile, the too big to fail banks just keep on getting even bigger. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years. If even one of those banks collapses, it would be absolutely crippling to the U.S. economy. If several of them were to collapse at the same time, it could potentially plunge us into an economic depression unlike anything that this nation has ever seen before.</p>
  • Morgan Stanley says internet companies overvalued, lowers view

    11/11/2013 3:50:01 PM PST · by xzins · 14 replies
    Global Post ^ | November 11, 2013 18:02 | Thomson Reuters
    Morgan Stanley lowered its industry view on internet stocks to "in-line" from "attractive," saying growth in the sector needs to accelerate to justify current valuations. Shares of Facebook Inc and LinkedIn Corp have more than doubled in the last one year, and trade 44 and 97 times forward earnings, according to Thomson Reuters data. Google Inc's shares have risen 56 percent in the same period and trade almost 20 times earnings, data showed. Morgan Stanley analysts said the rise in the valuation of internet stocks has been due to investors looking at the total addressable market (TAM) opportunity with minimal...
  • Judge dismisses some negligent claims vs Morgan Stanley

    03/07/2013 12:48:24 PM PST · by mgist · 9 replies
    News & Insight ^ | By Bernard Vaughan | Bernard Vaughan
    Judge dismisses some negligent claims vs Morgan Stanley By Bernard Vaughan NEW YORK (Reuters) - Morgan Stanley won a dismissal of some negligent misrepresentation claims in a lawsuit over its role in the failed Cheyne structured investment vehicle. The plaintiffs, including N.T. Butterfield & Son Ltd, invested in the Cheyne SIV and are seeking to recover losses from the liquidation of notes it issued between October 2004 and October 2007. The plaintiffs initiated the lawsuit in 2008 against numerous defendants, including Morgan Stanley and ratings agencies Moody's Investors Service and Standard & Poor's. They accused Morgan Stanley specifically of breaches...
  • The Bloodbath At Morgan Stanley Is Supposed To Start Today (1,600 to be axed)

    01/14/2013 8:13:51 AM PST · by SeekAndFind · 11 replies
    Business Insider ^ | 01/14/2013 | Julia La Roche
    Last week, it was reported that Morgan Stanley would ax 1,600 jobs, or about 6 percent of the global institutional securities group, Bloomberg News reports. The latest round of reductions are expected to begin today and continue into the coming weeks. According to Bloomberg News, half of those cuts are expected to be here in the U.S. The bank is also expected to eliminate about 15% of the i-banking positions in Asia, Bloomberg reports. Meanwhile, Fox Business reports that the Dubai office's equities division will be hit, too. Layoffs have been hitting a bunch of the big Wall Street banks....
  • Morgan Stanley Plans To Lay Off 1,600 Employees

    01/09/2013 10:20:14 AM PST · by 2ndDivisionVet · 10 replies
    Value Walk ^ | January 9, 2013 | Marie Cabural
    Morgan Stanley will cut its workforce by 1,600 in the coming weeks. The job cuts will affect all levels of employees in its investment banking and trading unit in both its United States and international divisions, according to a source. Morgan Stanley (NYSE:MS), one of the leading banks in the United States plans to cut the number of its employees within its investment banking and trading division by 6 percent or 1,600 in the next few weeks, according to report from Bloomberg, citing an unidentified source familiar with the issue. According to the source, 50 percent of the workforce reduction...
  • NIRP: The Financial System’s Death Knell?

    08/22/2012 6:10:02 PM PDT · by DeaconBenjamin · 6 replies
    zero hedge ^ | 08/22/2012 17:49 -0400 | Eric Sprott
    On July 18th, 2012, the German government sold US$5.13 billion worth of 2-year bonds at an average yield of -0.06%. Please note the negative symbol in front of that yield number. What this means is that the German government was able to borrow money for less than nothing. When those specific bonds expire in two years’ time, the German government will pay back the original $5.13 billion minus 0.06%. Expressed another way, investors knowingly and willingly bid the German government $5.13 billion in exchange for bonds that will pay no interest and are guaranteed to lose them money on expiration.1...
  • The Inside Story: Why a Ron Paul Disciple Left His Ranks

    David Bahnsen of Newport Beach, California is a Senior Vice President of Morgan Stanley, and also serves on the Board of Advisers of the California Recovery Project with Dr. Arthur Laffer. Bahnsen has abandoned his earlier support of the Ron Paul crusade, and now describes himself as an "economically literate Republican." He is the author of "The Undiscerning and Dangerous Appreciation of Ron Paul." Bahnsen says "It is the ironic that Ron Paul's alleged praiseworthiness comes from his devotion to the Constitution, when in fact, he has emphatically rejected it." Bahnsen has many family and business connections with libertarians. His...
  • Facebook Inc(NASDAQ:FB): Milberg LLP Announces Class Action Lawsuits Filed Against Facebook, Inc.

    05/30/2012 1:21:26 PM PDT · by Red Badger · 16 replies ^ | 05-30-12 | Staff
    NEW YORK, May 30, 2012 (MeshPress) — Milberg LLP announces that class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook, Inc. (“Facebook”) FB -2.29% common stock pursuant to the Company’s May 18, 2012 initial public offering (the “IPO”). Actions were also filed in the Northern District of California. The complaints charge Facebook, certain of its officers and directors, and underwriters of the IPO with violations of the Securities Act of 1933. The actions allege that the Registration Statement and Prospectus issued with the IPO were...
  • Senate panel to launch review of Facebook IPO

    05/23/2012 11:32:12 AM PDT · by US Navy Vet · 16 replies ^ | May 23, 2012 | AP via Foxnews
    A Senate panel is reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided select clients with a negative assessment of the company. A Democratic aide to the Senate Banking Committee says the panel wants to learn more about the initial public offering. The committee seeks briefings with representatives of Facebook, regulatory agencies and others. The aide spoke on condition of anonymity because the committee's planned inquiry hasn't been publicly announced. Regulators are examining whether Morgan Stanley, the lead underwriter for the IPO, selectively informed clients of an analyst's negative view of...
  • Investors File Suit Against Facebook, Underwriters

    05/23/2012 7:49:43 AM PDT · by Sub-Driver · 10 replies
    Investors File Suit Against Facebook, Underwriters By DAVID BENOIT Three Facebook Inc. investors filed a civil lawsuit Wednesday in Manhattan federal court, alleging the company and its underwriters failed to properly disclose changes to analysts' forecasts made at the underwriting banks. The suit follows reports that analysts at Morgan Stanley and Goldman Sachs Group Inc. cut their revenue forecasts on Facebook amid the investor roadshow, a change that wasn't widely disseminated. Late Tuesday, Massachusetts sent a subpoena to Morgan Stanley following the reports. Several other plaintiffs' lawyers have said they filed suits over the offering in other courts throughout the...
  • Exclusive: Massachusetts subpoenas Morgan Stanley for Facebook

    05/22/2012 3:45:21 PM PDT · by library user · 6 replies
    Reuters ^ | May 22, 2012 | Staff
    EXCERPT (Reuters) - Massachusetts Secretary of Commonwealth William Galvin has issued a subpoena to Morgan Stanley over an analyst's discussions with investors on Facebook "The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst's discussion with certain institutional investors about the revenue prospects for Facebook," a spokesman for Galvin's office said on Tuesday. "Morgan Stanley followed the same procedures for the Facebook offering that it follows for all IPOs. These procedures are in compliance with all applicable regulations," a Morgan Stanley spokesman wrote in an e-mailed statement. **snip** As of Monday afternoon, some customers...
  • Morgan Stanley’s $2.4 billion Facebook short

    05/22/2012 4:28:32 AM PDT · by SeekAndFind · 6 replies
    Reuters ^ | 05/22/2012 | Felix Salmon
    Matt Levine had a very wonky post on Friday afternoon about the dynamics of the Facebook IPO in general and of the very misunderstood greenshoe option in particular. Now that we’ve all had a nice relaxing weekend, it’s maybe worth revisiting that greenshoe, because it’s actually possible, given Facebook’s tumbling share price today, that Morgan Stanley will make a substantial amount of money on it. First, it’s worth explaining how the greenshoe option is meant to work. In the IPO, the underwriting banks — there were lots of them, but let’s just call them all “Morgan Stanley”, for simplicity’s sake...
  • Morgan Stanley Joins Citigroup, Bank of America in the Doghouse

    05/09/2012 2:58:54 PM PDT · by SeekAndFind · 1 replies
    The Street ^ | 05/09/2012 | Dan Freed
    NEW YORK (TheStreet) -- Morgan Stanley (MS) shares have had a rough 2012, underperforming those of major competitors by so large a margin that the bank is now lagging even perennial post-crisis losers Citigroup(C) and Bank of America(BAC) according to certain metrics. Morgan Stanley shares have risen just 4.69% through Tuesday, well behind Citigroup, the next-worst performer among the largest six U.S. banks with gains of more than 19% so far in 2012. Bank of America, still the top performer in 2012 despite having lost more than 15% in the past month, has seen its shares rise more than 40%...
  • Banker in alleged NYC cabby stab pleads not guilty

    03/12/2012 8:00:49 AM PDT · by Makana · 5 replies
    New York Post ^ | 11:14 AM, March 9, 2012 | KEVIN SHEEHAN
    The investment banker, accused of stiffing a New York cabbie and then stabbing him in a potential hate crime, pleaded not guilty in a Connecticut courtroom this morning. William Bryan Jennings, a Morgan Stanley bigwig who earns $2 million a year, didn’t say a word as defense lawyer Eugene Riccio raced to the defense bar, entered the not guilty plea and set his client’s next court date for April 12. Jennings, sporting a misplaced smirk on his mug throughout this morning’s appearance, and Riccio then briskly walked to the lawyer’s blue Toyota Tacoma pickup truck and roared out of the...
  • Moody's Warns 17 Banks of Downgrade — Credit Suisse, UBS And Morgan Stanley Could Fall 3 Levels

    02/16/2012 9:04:45 AM PST · by SeekAndFind · 5 replies
    Business Insider ^ | 02/16/2012 | Sam Ro
    Moody's announced that it may soon downgrade the long-term credit ratings of 17 of the largest banks in the world. "Capital markets firms are confronting evolving challenges, such as more fragile funding conditions, wider credit spreads, increased regulatory burdens and more difficult operating conditions," wrote the credit ratings agency in a statement. "These difficulties, together with inherent vulnerabilities such as confidence-sensitivity, interconnectedness, and opacity of risk, have diminished the longer term profitability and growth prospects of these firms." Credit Suisse, Morgan Stanley and UBS could be downgraded by up to three notches. Barclays, BNP Paribas, Citigroup, Credit Agricole, Deutsche Bank,...
  • 580 Morgan Stanley Soon To Be Former-Employees Learn They're Redundant Courtesy Of The Dept Of Labor

    12/28/2011 9:14:29 AM PST · by SeekAndFind · 3 replies
    Zero Hedge ^ | 12/28/2011 | Tyler Durden
    Previously it was Credit Suisse and Citigroup. Now it is Morgan Stanley's turn, as 580 employees in the firm's three New York office learn they are about to get the boot courtesy not of the HR department but the DOL's WARN website, which just happens to be the best real-time indicator for observing the transition of the soon to be former 1% into the 99%.From WARN: Date of Notice:  12/27/2011 Control Number: 2011-0193 Rapid Response Specialist:  Linda Foehr Reason Stated for Filing:  Plant Layoffs Company:  Morgan Stanley (Various NYC sites)1221 Avenue of AmericasNew York, NY  10020 County:  New York | WIB Name: NEW YORK...
  • Morgan Stanley to cut 1,600 jobs

    12/15/2011 9:05:45 AM PST · by Qbert · 4 replies
    Reuters via Yahoo Finance ^ | 12/15/2011 | Lauren Tara LaCapra
    (Reuters) - Morgan Stanley will cut 1,600 employees in the first quarter, the bank said on Thursday, as it trims costs in a difficult period for trading and banking revenue. The job cuts will come across all staff levels and geographic areas, spokesman Mark Lake said, including investment banking, trading and back-office functions. Morgan Stanley is one of the last big Wall Street banks to announce major job cuts as analysts have begun slashing fourth-quarter earnings estimates. Other banks, including Goldman Sachs Group Inc , JPMorgan Chase & Co , Bank of America Corp and Citigroup Inc have already outlined...
  • A family remembers: Hero of 9/11 gave life to save thousands

    09/10/2011 4:12:29 AM PDT · by nuconvert · 13 replies · 1+ views
    He's been called a "prophet" for being so ready for the attacks, "the Man Who Predicted 9/11" in a History Channel special, and a true American hero by countless others. As tragic as the morning of Sept. 11, 2001, was, the sky-blue day still held unexpected miracles, and Richard "Rick" Rescorla was at the center of one of the greatest -- the evacuation of financial-services behemoth Morgan Stanley. Rescorla , a 62-year-old retired and decorated U.S. Army colonel, had focused on security at the World Trade Center for years. Prior to the bombing of the World Trade Center in 1993,...
  • More Wall St. Bloodbath: Morgan Stanley To Lay Off 20% Of Managing Directors By Year End

    08/08/2011 8:06:31 AM PDT · by SeekAndFind · 7 replies
    Business Insider ^ | 08/08/2011 | Courtney Comstock
    A well-placed source close to the firm tells us that Morgan Stanley will have to fire 20% of the managing directors in research by the end of the year. Morgan Stanley names around 210 - 240 new managing directors per year, and in 2006, a research paper by the University of Chicago Booth School of Business estimated that Morgan Stanley employed around 780 managing directors, only 10-15% of which are probably in research, to give you a rough idea of how many managing directors will lay off this year. We've emailed Morgan Stanley PR and have not heard back yet....
  • Too Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets

    07/18/2011 2:47:30 PM PDT · by lbryce · 11 replies
    The Economic Collapse ^ | July 18, 2011 | Staff
    Back during the financial crisis of 2008, the American people were told that the largest banks in the United States were "too big to fail" and that was why it was necessary for the federal government to step in and bail them out. The idea was that if several of our biggest banks collapsed at the same time the financial system would not be strong enough to keep things going and economic activity all across America would simply come to a standstill. Congress was told that if the "too big to fail" banks did not receive bailouts that there would...
  • WOW: Morgan Stanley "Running Layoff Scenarios Into Several Thousand"

    07/13/2011 3:09:40 PM PDT · by SeekAndFind · 11 replies
    Business Insider ^ | 07/13/2011 | katya Wachtel
    Layoffs across Wall Street started in June and have continued through the summer. Morgan Stanley already begun reducing headcount in its brokerage. But it looks like things are about to get much worse. "The firm is “running layoff scenarios into several thousand folks,” said one person with direct knowledge of the matter" to Charlie Gasparino at Fox Business News. In June, Morgan Stanley's CFO, Ruth Porat, hinted there would be significant cuts coming to the bank's Smith Barney brokerage unit.
  • Banks to Pay $22 Mil for Military Foreclosure Errors

    05/28/2011 9:34:27 AM PDT · by WOBBLY BOB · 5 replies
    Bank of America and Morgan Stanley have agreed to pay more than $22 million combined to settle federal civil charges on improperly foreclosing on military personnel, The Associated Press reports. The latest home or commercial real estate news Sample Between 2006 and 2009, the mortgage lenders foreclosed on 178 military members in 22 states without getting court approval. The military members affected will each receive $125,562, on average. The banks will also continue to investigate whether improper foreclosures occurred in 2009 through 2010.
  • Morgan Stanley fund fails to repay $3.3 bln debt on Tokyo property

    04/15/2011 5:42:22 PM PDT · by george76 · 12 replies
    Reuters ^ | Apr 15, 2011 | Junko Fujita
    A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone and other investors, the largest repayment failure of its kind in Japan. It marks the latest fallout from a series of highly leveraged investments by Morgan Stanley , one of the most aggressive investors in worldwide property markets before the global financial crisis. .. This is the largest repayment failure of debt packaged in CMBS in Japan
  • U.S. Inquiry on Military Family Foreclosures

    03/11/2011 11:15:21 PM PST · by lbryce · 11 replies
    New York Times ^ | March 12, 2011 | DIANA B. HENRIQUES
    The Justice Department is investigating allegations that a mortgage subsidiary of Morgan Stanley foreclosed on almost two dozen military families from 2006 to 2008 in violation of a longstanding law aimed at preventing such action. A department spokeswoman confirmed on Friday that the Morgan Stanley unit, Saxon Mortgage Services, is one of several mortgage and lending companies being investigated by its civil rights division. The inquiry is focused on possible violations of a federal law that bars lenders from foreclosing on active-duty service members without a court hearing. Mark Lake, a Morgan Stanley spokesman, declined on Friday to comment on...
  • Two Banks Gain Access Within China(JP Morgan Chase & Morgan Stanley)

    01/07/2011 4:39:15 AM PST · by TigerLikesRooster · 9 replies
    WSJ ^ | 01/07/11 | ALISON TUDOR And PETER STEIN
    Two Banks Gain Access Within China By ALISON TUDOR And PETER STEIN HONG KONG—J.P. Morgan Chase & Co. and Morgan Stanley have both won approval for securities joint ventures in mainland China, the first U.S. firms to gain such access in six years. The new ventures will allow the two Wall Street banks to underwrite stocks and bonds in mainland China. Like other international investment banks, both firms can already underwrite deals for Chinese companies in Hong Kong, New York and other markets. The approvals, announced by China's securities regulator, are the first for any U.S. banks in China since...
  • Fed Opens Books, Revealing European Megabanks Were Biggest Beneficiaries (Details you should see)

    12/02/2010 9:30:51 AM PST · by FromLori · 49 replies ^ | 12/1/2010 | Marcus Baram
    NEW YORK -- The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief. The data revealed that the Fed's aid was scattered much more widely than previously understood. Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities. The Fed's dollars also flowed to major American companies that are not financial players, including McDonald's and Harley-Davidson, through unsecured short-term loans. The measure, initiated in Jan....
  • Is Anything Real? Trillions in Secret Fed Payments Revealed

    12/02/2010 4:08:11 PM PST · by Nachum · 45 replies ^ | 12/2/10 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Let's go back, audio sound bite-wise, to me on my program, this program. This is March 12th of this year... RUSH ARCHIVE: The TARP money was not used for its original purpose. There's something else out there, Jordan, you need to know. The Federal Reserve, before the TARP bailout, made loans totaling $2 trillion and they will not tell us to whom. We don't know who got the money. Whether the Fed loans it or the government prints it, it's our money. So you can talk about the $700 billion TARP. You can talk about the $787...
  • Alleged hit-and-run driver may not face felony -(Morgan Stanley wealth manager.)

    11/10/2010 7:47:36 PM PST · by enduserindy · 17 replies
    Daily Vail ^ | Thursday, November 4, 2010 | Randy Wyrick
    "EAGLE, Colorado — A financial manager for wealthy clients will not face felony charges for a hit-and-run because it could jeopardize his job, prosecutors said Thursday."
  • Wall Street mogul picked for State Department post--Nides raised Clinton cash

    10/20/2010 5:03:16 PM PDT · by jazusamo
    The Washington Times ^ | October 20, 2010 | Jim McElhatton
    President Obama's nominee for deputy secretary of state has earned more than $8 million in salary and bonuses since January 2009 as an executive at a Wall Street bank that received a federal bailout. Thomas R. Nides, a six-figure fundraiser for Hillary Rodham Clinton during her 2008 presidential run, disclosed his compensation from Morgan Stanley in a recent filing with the U.S. Office of Government Ethics. Mr. Nides, the company's chief operating officer, also said he remains eligible for additional bonus money at Morgan Stanley, which repaid its share of the federal bailout last year. As deputy secretary of state...
  • Sharia finance “Jihad with money” and American banks are helping our enemies

    09/26/2010 8:20:12 AM PDT · by jmaroneps37 · 14 replies ^ | SEPTEMBER 26TH, 2010 | Suzanne Eovaldi, staff writer
    “I like to call it JIHAD with money because God has ordered us to fight our enemies with our lives and our money,” Sheik Yousuf al-Qaradawi is quoted as saying in the video produced by Shocking evidence is surfacing which points to an ever deepening involvement of U.S. financial institutions in the Shariah Islamic Financial Initiative warns Shariah financial expert Joy Brighton in an important every America should view. “Islam, as we know, is part of America” President Barack Obama told his approving audience at the recent White House Ramadan dinner. Brighton tells audiences, “We are selling our...
  • Ask Not Whether Governments Will Default, but How [Morgan Stanley]

    09/21/2010 7:30:49 PM PDT · by DeaconBenjamin · 9 replies
    Safe Haven ^ | Mon, Sep 20, 2010 | By: John Mauldin
    As I am traveling in Europe for a few more days, it seems appropriate to review the very fascinating work of Arnuad Mares of Morgan Stanley in London. He poses the very provocative question: "Ask Not Whether Governments Will Default, but How?" and comes up with some very interesting statistics. He suggests that simply looking at debt to GDP misses the point and offers four other ways we should also evaluate sovereign debt risk. This is a very worthy contribution to Outside the Box. The question I get over and over as I travel and present my thoughts is "When...
  • Regulators shut big Chicago-based bank ["a big community bank... known for its social activism"]

    08/20/2010 5:20:54 PM PDT · by Brilliant · 19 replies
    AP via Yahoo! ^ | August 20, 2010 | Marcy Gordon
    Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months. It was the 114th U.S. bank to fail this year. The Federal Deposit Insurance Corp. took over ShoreBank, with $2.16 billion in assets and $1.54 billion in deposits. Urban Partnership Bank, a new institution comprised of several big Wall Street banks and a private foundation, agreed to assume ShoreBank's deposits and nearly all its assets... In an unusual move, the FDIC allowed some of ShoreBank's executives to continue running the restructured bank......
  • Irish Nuns Sue Morgan Stanley over Bond Deal

    08/15/2010 5:57:57 AM PDT · by Chunga85 · 5 replies
    CNBC ^ | 8/12/2010 | Patrick Allen CNBC Senior News Editor
    A group of nuns from Ireland are suing Morgan Stanley, alleging improper actions by the investment bank that led them to lose at least 5 million euros ($6.4 million), about 80 percent of their total investment, a filing by Stuarts Law showed. The claim, titled "The Sisters of Jesus and Mary versus Morgan Stanley", is related to bond investments linked to Dresdner Bank debt. The filing claims Morgan Stanley’s [MS 25.90 -0.22 (-0.84%) ] Special Purpose Vehicle (SPV) Saturn's Investment Europe "deliberately or carelessly failed to redeem the notes" following their downgrading in January 2009. According to the filing, The...
  • Nuns sue Morgan Stanley over bond loss

    08/11/2010 11:37:37 PM PDT · by Fred · 8 replies
    WSJ ^ | 081210 | LIAM VAUGHAN
    A group of Irish investors, including hundreds of nuns, filed a class-action suit with the U.K.'s High Court on Tuesday alleging U.S. investment bank Morgan Stanley failed to satisfy its contractual obligations related to about €6 million ($7.9 million) of bonds they purchased, resulting in the near total wipeout of their investment. In the claim titled "The Sisters of Jesus and Mary v. Morgan Stanley," 88 investors including the Sisters of Charity of Jesus and Mary, the Holy Faith Sisters and the Irish Veterinary Benevolent Fund allege the improper actions of Morgan Stanley led them to lose at least €5...
  • Morgan Stanley shares drop on reported probe (After Goldman Sachs, which investment bank's next?)

    05/12/2010 9:41:10 AM PDT · by SeekAndFind · 4 replies · 183+ views
    Associated Press ^ | 05/12/2010 | Stephen Bernard
    Morgan Stanley shares dropped in premarket trading Wednesday following a report that the investment bank is facing an investigation into mortgage derivative deals. Federal prosecutors are investigating whether Morgan Stanley misled investors about its role in a pair of $200 million derivatives whose performance was tied to mortgage-backed securities, according to a report in The Wall Street Journal. The newspaper said Morgan Stanley sometimes bet against the success of the derivatives, which were underwritten and marketed to investors by Citigroup Inc. and UBS AG. Shares of Morgan Stanley fell $1.29, or 4.5 percent, to $27.09 in pre-opening trading. A spokesman...
  • Morgan Stanley CEO: no knowledge of U.S. investigation

    05/12/2010 6:30:39 AM PDT · by mlocher · 81+ views
    Reuters via ^ | May 12, 2010 | Reuters
    TOKYO (Reuters) - Morgan Stanley Chief Executive James Gorman said he had no knowledge of any U.S. federal investigation into the Wall Street firm as was reported by media. "We have not been contacted by the Justice Department," he said at a joint news conference with Mitsubishi UFJ Financial Group in Tokyo. "We have no knowledge whatsoever about the Justice Department investigation," Gorman said. The Wall Street Journal reported U.S. federal investigators are probing whether Morgan Stanley misled investors about mortgage derivative products it helped create and sometimes bet against.