Current Events

MS CEO calls for reforms (with limits)

The firm’s annual shareholder meeting was today … buried deep in the story from the Wall Street Journal were the following paragraphs regarding comments made by Morgan Stanley CEO James Gorman. In the meeting, a brisk one hour compared with Goldman Sachs‘ three-hour marathon, Mr. Gorman also said Morgan Stanley was committed to regulatory reform. […]

Current Events

Sub-7000 DJIA

Financials Weigh on U.S. Futures – WSJ.com U.S. stock futures dropped on Monday after American International Group and HSBC Holdings took steps to raise more capital and Warren Buffett said that the economy would be in “shambles” this year. About an hour before the start of trading in New York, futures on the Dow Jones […]

Current Events

Okay, time to dial it back …

We all know what happened yesterday, with the DJIA closing up 936 points. As happy as I was to see it, Morgan Stanley‘s 88% gain in a single day seems almost as irrational as the fears that pushed it down as low as it got. Early news seems to be indicating that the market should […]

Current Events

YES!!!

Looks like keeping everything crossed last night did some good … now to see what happens when the market opens later on today. So far futures are indicating a broad-based up-market day, but how is that going to affect the financials, and specifically Morgan Stanley? At least we’ve got our deal in place, and so […]

Current Events

Crisis on the Street

Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash – WSJ.com Fed Will Expand Its Lending Arsenal in a Bid to Calm Markets; Moves Cap a Momentous Weekend for American Finance NEW YORK — The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. […]