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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: Morgan Stanley

Morgan Stanley stories: 86 news summaries

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GLOSSIES

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

Sep 16, 09 9:35 PM CDT
(Newser) - James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense... More »

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Ben Bernanke • New Yorker magazine • Goldman Sachs • Henry Paulson • Morgan Stanley • Bear Stearns • Merrill Lynch • Lehman Brothers • AIG • financial crisis • Timothy Geithner • James Stewart

Mack Steps Down as Morgan Stanley CEO

Ends tumultuous 4 years, including bank's near collapse

Sep 11, 09 5:52 AM CDT
(Newser) - John Mack is stepping down after 4 years as CEO of Morgan Stanley, the bank that nearly succumbed at the height of the financial crisis. Morgan Stanley has seen its reputation suffer in recent years after ill-advised moves into real-estate-backed assets that cost the bank billions, raising questions about Mack's... More »

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CEO • Morgan Stanley • John Mack • investment banks • financial crisis • James Gorman

Banks Get Back to
Risky Business as Usual

Plans to overhaul regulation losing momentum as banks return to health

Sep 9, 09 1:49 AM CDT
(Newser) - Banks that teetered on the edge of extinction last year are returning to their old ways as the shock of the financial crisis fades, the Wall Street Journal reports. The banks are handing out hefty compensation packages again and dealing in the same risky financial instruments that caused last year's... More »

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Goldman Sachs • Morgan Stanley • bank • Lehman Brothers • regulation • financial sector • collateralized debt obligations • financial crisis

 US Reaps Profit as 
 Banks Pay Back 
 TARP Funds 

Fed pulls in $14B from loan programs

Aug 31, 09 7:38 AM CDT
(Newser) - When the government spent some $240 billion last year to help avert financial disaster, the idea of making a profit from the TARP funds invested in teetering banks looked like a long shot. Now, however, profits from eight banks who’ve paid back the cash have totaled some $4 billion,... More »

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Goldman Sachs • Federal Reserve • profits • Morgan Stanley • loans • American Express • investment • Treasury Department • taxpayer money • Northern Trust • TARP

 US Banks Hiring Again 
 After Layoffs, Bailouts 

But headhunting 'selective,' notes banker

Aug 11, 09 7:25 AM CDT
(Newser) - After cutting thousands of jobs over the past two years, American banks are rushing to fill them again as business picks up, Reuters reports. “Back in March and April, no one really knew if the investment banking business was going to exist again," said a search firm exec.... More »

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Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • employment • JPMorgan Chase • banks • financial crisis • hiring

Wall Street Rakes in $1B in Fees on AIG Breakup

Morgan Stanley set to pocket $250M in  'advisory services'

Aug 6, 09 7:18 AM CDT
(Newser) - The crumbling of AIG forced taxpayers to take on 80% of the company, but breaking the insurance giant up is turning out to be a bonanza for lawyers and banks. The Wall Street Journal calculates that firms will pull in $1 billion in fees from AIG and the Fed—one... More »

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insurance companies • Bank of America • Goldman Sachs • Morgan Stanley • IPO • AIG • fees • financial crisis • Wall Street bailout

Young Media Doomsayer Rivets Industry

News is finished, Twitter is pointless, says teenage sage

Jul 13, 09 3:31 AM CDT
(Newser) - A report on teen views of media written by a 15-year-old Morgan Stanley intern has become the talk of Wall Street and Sun Valley, with CEOs and fund managers old enough to be his grandparents jumping on its conclusions. Londoner Matthew Robson claims that his generation has no use for... More »

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television • media • Morgan Stanley • digital media • Twitter • newspaper industry

Bailed-Out Bank Execs Fly Corporate Jets to Resorts

Citi, BoA, Morgan Stanley CEOs jetted off after cash infusions

Jun 19, 09 6:54 AM CDT
(Newser) - Executives at bailed-out banks are still using company jets to fly to vacation homes and resorts, the Wall Street Journal reports. The newspaper reviewed FAA records to find that banks receiving federal aid have flown top execs to locales such as the Caribbean, Aspen, and Europe. Case in point: Less... More »

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Citigroup • Bank of America • CEO • Morgan Stanley • bank • resorts • bailout • vacation home • executives • Regions Financial • corporate jets

Three Big Banks Apply to Repay TARP Funds

Goldman, JPMorgan, Morgan Stanley want out of pay restrictions

May 19, 09 7:59 AM CDT
(Newser) - Goldman Sachs, JPMorgan Chase, and Morgan Stanley have applied to repay a combined $45 billion of TARP funds, Bloomberg reports. The three banking giants must receive permission from the Fed before returning the money. The repayments would be the most substantial since Congress established the $700 billion program, and will... More »

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executive compensation • Goldman Sachs • Morgan Stanley • JPMorgan Chase • financial crisis • TARP

MARKET Open

 Stocks, Commodities Plunge 


May 11, 09 8:57 AM CDT
(Newser) - Stocks plunged at the open, as banks sold shares to raise capital, and consumer and commodity stocks took a pounding, the Wall Street Journal reports. The Dow was down 140, the Nasdaq down 1.8% and the S&P off 2.1. Oil producers were hit hard as crude fell... More »

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stock market • Bank of America • Dow Jones • Morgan Stanley • Nasdaq • financial sector • S&P 500 • financial crisis

 At NY Fed, 
 Geithner Got Cozy 
 With Wall Street  

Geithner's cozy history with the high finance club draws critics' ire

Apr 27, 09 9:10 AM CDT
(Newser) - While some feel Treasury Secretary Timothy Geithner has been an aggressive steward of the public trust, some critics point to his days as New York Fed president as proof he’s too cozy with the very banks that crippled the financial system. The New York Times investigates his tenure there,... More »

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Citigroup • Goldman Sachs • Morgan Stanley • BlackRock • JPMorgan Chase • Treasury secretary • financial crisis • Timothy Geithner • New York Federal Reserve Bank

 Treasury Ups Offer 
 to Chrysler Lenders 

Treasury blinks in standoff that will determine auto maker's future

Apr 23, 09 1:58 AM CDT
(Newser) - The Treasury Department is offering banks holding Chrysler's debt a better deal in the latest round of the back-and-forth over the automaker's future, the Wall Street Journal reports. The counter offer—still way short of what the banks seek—proposes to give lenders 22% of the $6.9 billion Chrysler... More »

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Chrysler • Citigroup • Morgan Stanley • Treasury Department • auto industry • JPMorgan Chase • auto bailout

Banks, Treasury Play
Chicken on Chrysler Deal

Alternate headline: Banks, Treasury Play Chicken on Chrysler Deal

Apr 22, 09 7:46 AM CDT
(Newser) - A group of big banks balked at the Treasury’s proposal that they slash 85% of Chrysler’s debt, the government’s second such request. Instead, in what the Wall Street Journal calls a “significant act of brinkmanship” as an April 30 deadline looms, the banks, including bailout... More »

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Chrysler • Citigroup • bankruptcy • Morgan Stanley • Treasury Department • auto industry • JPMorgan Chase • auto bailout

Bailed-Out Banks Don't
Want to Bail Out Chrysler

Lawmakers say rescued banks should cooperate in auto rescue plan

Apr 17, 09 7:44 AM CDT
(Newser) - Auto task force Steven Rattner's request that four big banks write off their $7 billion debt to Chrysler in return for nothing met with a big no from dropped jaws, reports the Washington Post. JPMorgan Chase, Morgan Stanley, Citigroup, and Goldman Sachs are seeking a better deal, but critics argue... More »

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Chrysler • Citigroup • Goldman Sachs • Morgan Stanley • auto industry • bailout • JPMorgan Chase • Wall Street bailout • auto bailout • Steven Rattner

 Brain Drain Wallops Wall Street 

It's not just the firings: others are leaving for safer jobs

Apr 12, 09 3:16 PM CDT
(Newser) - The financial crisis is reshaping not just the landscape of Wall Street, but its face as well, reports the New York Times in a look at the hemorrhaging of the Street's top talent. Layoffs aside, finance's best and brightest—arguably the same daring risk-takers responsible for the recession—are seizing... More »

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Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • Merrill Lynch • banking • banking industry • financial crisis

(Newser) - MGM Mirage, the gambling conglomerate, is considering the sale of casino properties in Michigan and Mississippi to pay down debt and save an underfunded Las Vegas development, the Wall Street Journal reports. The Vegas-based company has retained Morgan Stanley to shepherd the sales of the MGM Grand Detroit and... More »

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Detroit • Las Vegas • MGM Mirage • Morgan Stanley • debt • recession • casino • Mississippi • Dubai World • MGM Grand • City Center

Wall St. Looks to Skirt Bonus Limits With Padded Salaries

Attempt to skirt new rules could anger shareholders

Mar 17, 09 8:14 AM CDT
(Newser) - In a move to skirt government restrictions on executive pay for recipients of bailout cash, some Wall Street companies are discussing raising base salaries, the Journal reports. Citigroup and Morgan Stanley are considering the idea, which is gaining currency as regulators keep a watchful eye on bonuses, say industry insiders.... More »

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Wall Street • Citigroup • executive compensation • Morgan Stanley • bonuses • bailout • banks • financial crisis • TARP • salaries

MARKETS

 Dow Up 4 as Stocks Waver 

Caution follows yesterday's rally

Mar 11, 09 3:12 PM CDT
(Newser) - Stocks finished below today’s session highs but closed with slight gains, barely making the first two-day winning streak in a month, the Wall Street Journal reports. Financials mostly gained, with shares of Citigroup, Morgan Stanley and Bank of America up at least 4%. The Dow closed up 3.91... More »

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Citigroup • Bank of America • Dow Jones • Morgan Stanley • Nasdaq • S&P 500 • financial stocks

 Citi Posts $8.3B Loss, 
 Prepares to Split in Two 

Still smarting from bad mortgage bets, the company will split to remain solvent

Jan 16, 09 7:52 AM CST
(Newser) - Citigroup lost $8.29 billion in the fourth quarter—twice as much as expected—as the credit crisis continues to batter big banks, Bloomberg reports. The bank suffered a net loss of $1.72 per share, falling far short of analysts’ estimates. Citigroup, which lost 77 percent of its trading... More »

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Citigroup • Morgan Stanley • earnings reports • quarterly reports • stock price • bailout • Smith Barney

(Newser) - Say goodbye to the Citigroup empire. When the company releases its earnings next week, it'll also unveil a drastic plan to slice away businesses until it’s roughly two-thirds of its current size, the Wall Street Journal reports, and looks much like Citicorp did before the merger that created... More »

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Citigroup • Morgan Stanley • Citibank • Vikram Pandit • Smith Barney

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