John Mack on Saving Morgan Stanley, Inside the Bunker

[TrippingTheTube]

Welcome to Fascism USA.! 

[TrippingTheTube]

Thank God this story has a happy ending!!! NOT!!!!

[TrippingTheTube]

It's too bad they didn't let you just go out completely. Actually more than too bad, it's criminal. Really.

[TrippingTheTube]

I feel sorry for any students who believe any crap this guy has to say.

[TrippingTheTube]

This guy's a scumbag. None of these banks should be standing right now.

[StefanDocken]

one of the best movie that i ever watched..saw this in webmovietube

[MorrisMacpartland]

wow..amazing..awesome..just watched this in webmovietube

[OceanWushi]

BIG SWINGING DICK

[BiggerThinking1]

This is the guys who's wife was given $220 million by the government (taxpayers) under the out-of-control bailout snowball.

Read MAtt Tiabbi's article "The Real Wives of Walla Street" in Rolling Stone Magazine

[josieradomski81]

what a movie..pls watch this in webmovietube

[oitotheworld23]

Say what you want, but John's a badass.

[md991free]

@oitotheworld23 There is story about him in the up coming issue of Rolling Stone. Is the buzz of Wall Street.

[DoBrigh]

i can't believe he violated bike lane laws.

[laaxe]

You Wall Street skilless slime who produce nothing (who currently manipulate for a living) will be begging for a job to sweep my stable out when this is all over. You do nothing, and will pay the price, once the world has stablized! Fuck you all!!!

[Ipluckithard]

".Stand up to what you believe in, do what you think is right, be prepared to suffer the consequences, but don't be pushed around when you know in your heart of hearts ITS THE WRONG THING TO DO."

LOL! a quote 25:50 John Mack

NEE How Ma!

[wangstick]

This is apparently the guy who would talk about "ripping faces off" and "blowing people up" when talking about ripping off buyers of derivatives deals from the company.

[neversayjello]

i just read about this in TBTF.

[NaViTeCk]

ORGANIZATIONAL BEHAVIOR IS SO BORING

[richardr105]

crosbyyacht-

The true story about the current disaster this Country is in started yrs ago + was growing especially after Greenspan cut rates to zero right after 9/11 and left them too low for too long. This helped fuel a speculative bubble in real estate which the banks+ Wall St got drunk on by repackaging+ selling. Where was Congress who had legal responsibility to oversee FNMA? Why has no one sued the rating agencies for giving all this crap AAA ratings? Wall St's no angel but plenty of blame

[911Bovice]

John Mack = Boss

[crosbyyacht]

richardr105- -The articles I was able to pull up claim that Morgan Stanley and the other broker dealers created much of the wall street scenario that almost destroyed all of them. There wasn't much loyalty to MS from its long-time investors. When things turned against MS, those investors made big money by driving the stock down. But wasn't that how MS also did business and they wanted those practices protected before they were on the losing end. Mack was right: Banks need more regulation.

[shaithis45]

@crosbyyacht I was never loyal to MS once I started noticing my IRA losing value in the early 2000's. Then on top of that since I was putting money into my IRA the levied a service charge for $40 against the IRA which I in turn cashed out on. My savings value went from around $800 to around $300 at time of cash out. Haven't invested in 401k or IRA since then because it is sounding more like a scam where what you put in won't retain its value.

[richardr105]

crosbyyacht - google MS on the web and type in hedge funds ganged up on MS - see if that takes you to the WSJ article about what they did and what really happened.....pretty disturbing to say the least but not really surprising if you think about it.....Wall Street is a tough place.

[JimboWHO]

Gripping. I like this guy.

[Tatwai5]

@JimboWHO yup, great story

[crosbyyacht]

Great presentation on MS in the crisis. He said earlier that his firm had several billion only a few days before they were going to collapse. He also said they posted good earings for the previous quarter. So what sucked the money out of their firm in such a short time? Can anyone give an intelligent answer. Were investors shorting the stock? What was it?Also, how did MS ultimately survive? The deal with Japanese must have went through?

[HilariousVoicemails]

@crosbyyacht John kind of touches base on this at 5min - basically they (other banks like JP, BoA, CS) needed Morgan Stanley to front Collateral so all of that free cash was being used as collateral (that's why they had so much, they were prepared for it) - but you can't use collateral as free cash, its used to back up cash... eventually Mitsubishi UFJ Financial Group invested a large amount of money for stock - giving people confirmation that MS wasn't going anywhere

[richardr105]

hey 1onomatopoiia you should keep your fat mouth shut on a subject matter you no nothing about- which is obvious by your stupid ass comments here - MS was gangraped by the hedgefunds trying to make a buck by shorting the stock +starting rumors.(read the WSJ article about it) The reasons for the crisis are too many to list here but Wall St was just part of a much bigger problem that included the politicians, rating agencies, bankers and assholes like you buying homes you couldn't afford!

[libsrevil]

Axbx23,

Lewis got screwed over by John Thain and Hank Paulson. He was forced to buy Merrill and lied to by Thain. The real story will come out next year after he retires.

[Azbx23]

Ken Lewis should take notes on this.

What a screw-up he was for BofA's shareholders and employees.

[md991free]

@Azbx23 The biggest mistake Ken Lewis made is that he overpaid for Merrill Lynch during that famous week-end of September 2008.

Jamie Dimon was smartest, he purchased Bear Stearns and Washington Mutual for pennies in the dollar.

[1onomatopoeia]

If merged with JPM could 25,000 jobs be saved? How 'bout that swagger, gambling with 45,000 other people's lives? How many people did he layoff after he 'saved' the firm? What's the payroll now at MS?He better still get himself a plan 'B,' Jackass. Sure he told people to sell MS stock- his family were short in his offshore hedge funds. Good 'ole Mac-Carolina boy could give a F less about MS, Taxpayers and the USA in general. Best thing he did is tell the Treasury & Fed to F off, more should.

[benzlzhang]

'Mack the Knife' what a hardass

[SeexiBiene91]

so da wer will mit mir schreiben hab auch bilder von mir

[Savior250psi]

Savior250psi onboard tire compressor is an original idea. And just as secure investment as anything ells out there.

I predict it will be a standard product on all vehicle. Like power window Ac is now

[Savior250psi]

Savior250psi onboard tire compressor is an original idea

[dlmaniac]

Wall St. took on insane risk during good time to make a profit. Nothing wrong w/ that. But what did they do when it turned bad? You'd expect them to swallow it like a man. Yet they socialized the loss onto tax payers.

What a bunch of crooks.

And now they passed selves around as some kinda "leaders" at Wharton, calling each other a "patriot"? What an insult to all the tax payers.

Even more stunning were the students applauding for him. Hello!! That guy robbed you, did you know that?

[supervirus2]

shut up u imbesile today we got most of our money back plus intrest and u got to keep UR job and ur dollar still has value..... dumass

[dlmaniac]

While people on the Wall St. continue to collect their multi-billion bonus, people on the main st. are collecting pink tickets. And you are telling me people got your money back?

Was that b/c you were hired by Wall St. to come here posting pro-Wall St. arsonists bullsh*t? Yeah, sounds like you've got paid.

And w/ that massive deficit building up screaming for dollar depreciation, you are saying dollar has value? What value, Zimbabwe / Weimar Republic value?

Are you f*cking stupid?

[supervirus2]

your dollar depreciation make Ford sales more product export rise then ur dollar gaines value u make more profits and on and on an on .... main street??go and dictch money at some one how wants to work for 10$/h.

sale stuff do facebook do ebay make a cd and sell it main street woould juge u and buy u or reject u.....no one would look at a big money making machine a say if it need my help tp oil it i wont even if it well pay me back

[hurchel]

I appreciated that story, I always go the heart of hearts way..

So they probably did blackmail lewis into taking bad assets...

[dlmaniac]

MS survived last year's crisis but still has an excellent chance to go down in the coming one. This depression has just started, baby.

[coolkecq]

'we went in with 100 billion dollars in cash....' ???????what kind of money is that,,,you bring that amount of money? how,,use trucks? ??

[biotechsmaven]

what they mean is cash in their cash account, not cash as in banknotes (real money).

it is called cash because it is a liquid and available for withdraw anytime, and it is not in stock or bond or other financial instrument.

[MadPutz]

coolkecq must be joking/trolling

[supervirus2]

another dumass

[Romulus2009]

Paulson and Bernanke are financial jihadist walking into Congress as suicide bombers: GIVE US TARP OR THE ECONOMY BLOWS

[chas5131]

Delighted that you are not in charge.