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’Taibbi takes aim at the Talf
Yeah, so — the Talf was a scam. That much we knew from the get-go.
What we didn’t know was that a pair of Reiki-loving Wall Street wives had a crack at it. That nugget’s contained in the latest from Matt Taibi — the hyperbolic Rolling Stones writer of vampire sqid fame.
The perils of flying commercial
Shucks. Alive to the public’s sensitivities, Lloyd Blankfein of Goldman, John Mack of Morgan Stanley and Dick Parsons of Citigroup all choose to take scheduled commercial air services to get to their much-anticipated meeting in Washington with President Obama on Monday.
Morgan Stanley’s Mac steps aside
John Mack will step down as chief executive of Morgan Stanley, ending a four-year tenure marked by controversy over his strategic decisions and a near-death experience during last year’s financial crisis.
James Gorman replacing John Mack as CEO of Morgan Stanley
CNBC reports:
Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by James Gorman, one of the investment bank’s co-presidents, CNBC has learned.
Mack will remain chairman of Morgan Stanley,
Morgan Stanley not in Q1 happy bank club
Shares down in pre-market after the firm reports a net loss.
But has the market realised the loss is largely due to improvements in the company’s credit spreads? Oh, and the bank also had a Goldman-esque ‘orphan month’.
Gorman tipped to succeed John Mack
Morgan Stanley’s James Gorman may become the likely successor to chief executive officer John Mack by taking charge of the firm’s brokerage joint venture with Citigroup, reports Bloomberg. Mack, 64,
Mack, Thain to forgo bonuses
The top executives at Merrill Lynch and Morgan Stanley, led by their chief executives, John Thain and John Mack, will not receive bonuses this year amid growing pressure on Wall Street chiefs to share the pain of the financial crisis.
John Mack’s high-stakes Japanese dinner in London
The Mack doth protest too much… as Morgan Stanley watches the spreads on its credit default swaps climb and tries to stem the flow of clients from its prime brokerage services, John Mack has stepped up his efforts to reassure the world – and particularly Mitsubishi UFJ Group – that his bank is sound.
The run on Morgan Stanley (up dated)
This is a pretty stunning line to read:
“We need a merger partner or we’re not going to make it,” Mr. Mack told Mr. Pandit, according to two people briefed on the talks. Mr. Pandit, a former senior investment banker at Morgan Stanley,
Optimistic Mack sees end to crisis
John Mack on Tuesday sounded a rare note of optimism on the credit crunch, predicting a near-term end to the troubles in the US subprime and leveraged loans markets and saying the crisis could be over within six months.
Morgan’s John Mack set to win backing
John Mack, Morgan Stanley’s chairman and chief executive, looks set to defeat opposition from a number of pension funds and win a comfortable re-election to the investment bank’s board at Tuesday’s shareholder meeting.
Pressure on Morgan Stanley board
Morgan Stanley’s board has come under renewed pressure to take responsibility for the group’s recent lapses in risk control after two shareholder advisory firms urged a vote against several directors at next month’s annual meeting.
Activists target John Mack
John Mack’s leadership of Morgan Stanley will be challenged at next month’s annual meeting by a group of activist funds which are urging investors to vote against his re-election to the board. CtW Investment Group,
No bonus for John Mack, but…
Morgan Stanley said chief executive John Mack received about $1.6m in salary and other compensation for its 2007 fiscal year, when overall profit fell 57%, reports Reuters. Mack’s total compensation, including nearly $16.5m in gains from the exercise last year of previously granted options and stock grands,
Morgan Stanley Asia chief joins inner circle
It’s all about Asia these days. With private equity groups jostling to build up their Asian operations, the chief executive of Morgan Stanley Asia is now joining the investment bank’s powerful management committee after just nine months in the job.