John Mack on Saving Morgan Stanley, Inside the Bunker

John Mack = Boss

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.

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.

coolkecq must be joking/trolling

Gripping. I like this guy.

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?

@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

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!

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.