Morgan Stanley beat expectations for the third quarter and its CFO said yesterday that everyone just needs to chill because things are getting out of hand but Goy Goldman is apparently feeling a little less unruffled about the sitch this morning. According to CNBC, senior officials are currently considering a merger. And it turns out they might not just be messing with us and pretending to act all freaked out to show us how "silly and irrational" we're all being.*
Don't you love sell-offs in India in the morning?
Morgan Stanley Ponders Staying Independent [CNBC]
*If that turns out to be the case-- well-played, Morgan Stanley.
Posted by guest , Sep 17, 2008 9:46AM
Can we get this to 400 comments Bess?
Maybe I should move to Mauritius?
Posted by guest , Sep 17, 2008 9:47AM
Sears!
Posted by guest , Sep 17, 2008 9:47AM
gs
Posted by guest , Sep 17, 2008 9:48AM
Any condiment would sound good with Morgan.
Posted by guest , Sep 17, 2008 9:48AM
Wal-Mart!
Posted by guest , Sep 17, 2008 9:49AM
wtf does that screenshot mean?
Posted by guest , Sep 17, 2008 9:49AM
If they don't start charging Uncle Sugar full freight for these advisory engagements, they will have to merge.
Posted by guest , Sep 17, 2008 9:52AM
goy goldman. hadn't heard that one before, but if it's an original bessism i cheer huzzah!
Posted by MostOffensive , Sep 17, 2008 9:52AM
I think the combined entity should be called "Morgan Sachs," to continue the ticker MS and the House of Morgan name.
Posted by guest , Sep 17, 2008 9:55AM
Bess doesn't know what she's talking about.
Posted by guest , Sep 17, 2008 9:55AM
Goldman Stanley sounds good too.
By the way, where are the mayo/shamwow guys? I miss them.
Posted by guest , Sep 17, 2008 9:56AM
companys ticker would be MSG or call the company Morgan's Sack.
Posted by MostOffensive , Sep 17, 2008 9:57AM
I suppose it could also be Goldman Stanley, but I think I prefer Morgan Sachs
Posted by guest , Sep 17, 2008 9:57AM
Have you banned this ebay domain peddler?
i envision him registering a new bunch of MS-GS domains
Posted by guest , Sep 17, 2008 9:58AM
whats the point of this? i dont get it
Posted by guest , Sep 17, 2008 9:58AM
by the way, both 'www.goldmanstanley.com' and 'www.morgansachs.com' are taken.
Posted by guest , Sep 17, 2008 9:58AM
Morchovia
Posted by guest , Sep 17, 2008 9:59AM
What's with the graphic?
- Silicon Valley Idiot VC
Posted by guest , Sep 17, 2008 10:00AM
Have you banned this ebay domain peddler?
i envision him registering a new bunch of MS-GS domains
Posted by guest , Sep 17, 2008 10:00AM
Ha! How extensive are Morgan Stanley's operations in India? Mauritius is the favourite routing point for most foreign investment into India, both perfectly legit and shady ill gotten gains (the legit stuff does this to circumvent some of India's more ridiculous investment laws).
Every one of those is an Indian company. Mauritius actually shows up as the number one origin country for foreign investment into India.
Posted by guest , Sep 17, 2008 10:02AM
Morchovia
Posted by guest , Sep 17, 2008 10:02AM
Morchovia
Posted by guest , Sep 17, 2008 10:02AM
Ha! How extensive are Morgan Stanley's operations in India? Mauritius is the favourite routing point for most foreign investment into India, both perfectly legit and shady ill gotten gains (the legit stuff does this to circumvent some of India's more ridiculous investment laws).
Every one of those is an Indian company. Mauritius actually shows up as the number one origin country for foreign investment into India.
Posted by Anal_yst , Sep 17, 2008 10:02AM
Third the questioning of wtf that graphic - subsequently removed - signifies? Anyone?
Posted by guest , Sep 17, 2008 10:04AM
I don't get it.
Posted by guest , Sep 17, 2008 10:04AM
Morchovia
Posted by guest , Sep 17, 2008 10:06AM
SCREEEN SHOT WAS LIQUIDATION in INDIAN MARKETS.
Posted by guest , Sep 17, 2008 10:06AM
I love the people sitting in MS offices playing dumb about a big selloff by getting on Bess.
Posted by guest , Sep 17, 2008 10:07AM
chart = liquidation in indian markets
Posted by guest , Sep 17, 2008 10:07AM
a big selloff? hardly. this post confuses me. attempts are sarcasm or something but it baffles me. wtf are you saying?
Posted by guest , Sep 17, 2008 10:08AM
Commerce Stanley...
Posted by guest , Sep 17, 2008 10:09AM
Morchovia
Posted by blndebnker , Sep 17, 2008 10:10AM
I think I like Goldman Stanley. Morgan Sachs is good to but you know GS will never allow their name to be last.
Posted by guest , Sep 17, 2008 10:10AM
eBay is the right partner!
After all, are these guys true free-trade, let-market-efficiencies-determine -- fill in the blank with "Healthcare", "Pensions", "Education", etc. -- Republicans or aren't they?
So let's auction off MS's assets on eBay -- their portfolio, property, office furniture, and -- most importantly - the purloined personal assets these self-involved, egotistical i-bankers bought with bonuses generated by the biggest and most harmful ponzi scheme in history.
From the frontline bankers and math whizzes who invented new vehicles to the assholes in the corner offices and their ex-Wall Street buddies at the Fed and in Treasury, they knoew for YEARS this day of reckoning would come but they decided to say, "FUCK IT!" rather than act responsibly.
Does the term "fiduciary duty" mean anything. I know "ethics" doesn't apply.)
So now we should say "FUCK YOU! TIME TO DOWNGRADE TO THAT ONE-BEDROOM IN HOBOKEN, ASSHOLE! ENJOY NJ TRANSIT."
Posted by guest , Sep 17, 2008 10:10AM
More-Gold
Posted by guest , Sep 17, 2008 10:11AM
LET ME PUT SOME PERSPECTIVE.
THE QUANTITIES SOLD ARE HUGE (IN REGARDS TO INDIAN MARKET LIQUIDITY).
THIS HAS PREVIOUSLY HAPPENED TWICE IN MY EXPERIENCE
A. BSC'S LAST DAYS
B. LEH'S LAST DAYS
I WOULD SAY THIS IS MIGHTY SIGNIFICANT
Posted by guest , Sep 17, 2008 10:13AM
http://www.reuters.com/article/newsOne/idUSSP35927820080917?pageNumber=2&virtualBrandChannel=0
reuters confirms fears
Posted by guest , Sep 17, 2008 10:14AM
Does anyone know what Morgan Bonuses will now look like?
Posted by guest , Sep 17, 2008 10:14AM
Guest @ 10.11 - so basically this is a scramble for liquidity?
Posted by MostOffensive , Sep 17, 2008 10:15AM
@ blndebnker-- agreed. Next question: would it be a times square or a financial district company? I vote that it retakes the Lehman building (originally MS's).
Posted by guest , Sep 17, 2008 10:15AM
I think it will be Morgan Stanley, a subsidiary of Wells Fargo & Company
-or-
Morgan Stanley, a subsidiary of US Bancorp
WB is done too...they will be acquired by one of the above as well.
GS can't do anything...they are just hoping to ride out storm.
Posted by guest , Sep 17, 2008 10:17AM
morgan bonuses have been announced: $0 cash/option grants pending successful merger with XOM
Posted by guest , Sep 17, 2008 10:19AM
Who were the idiots bidding MS up to $32.75 in the afterhours yesterday? They sure got taken for a ride.
LEH shares down 50% from 30 cents to 15 cents, I hope any employees still holding shares sold out at 0.30 before today's haircut..
Posted by guest , Sep 17, 2008 10:20AM
@41
BUFFET HAS ASKED WELLSFARGO NOT TO GO NEAR THIS TOXIC STUFF.
Posted by guest , Sep 17, 2008 10:23AM
#34-
You are sadly mistaken. NJ Transit does not serve the manhattan-hoboken corridor. The Port Authority Trans Hudson railroad, however, does. (This is more commonly known as the PATH.) New York Waterway also serves manhattan-hoboken via ferry service. Your error probably stems from the fact that NJ Transit does, in fact, serve many bedroom communities throughout Northern NJ and the Hoboken Terminal does serve as a terminus for many of these routes.
Warmly,
Dante Terrell Smith
Vice President
NJ Transit, Commuter Relations
Posted by guest , Sep 17, 2008 10:23AM
Paulson deserves credit for moving the US Treasury from nowhere to the top of the M&A league table in just a few years. I'll be he really emphasizes that in his year end review.
Posted by guest , Sep 17, 2008 10:23AM
@41
I think the IB's DO need the capital from the banks, BUT the banks may have learned their lesson last time around. USB lost a fistful of cash with acquisition of PJC, which they subsequently spun off becuase they don't like risk.
Posted by guest , Sep 17, 2008 10:25AM
It's going to be one of the following:
1) HSBC Morgan Stanley
2) JP Morgan
Messrs Glass & Steagall will be rolling in their graves if it is No.2
But JP Morgan is better of the two as the combined firm can use all the existing JPM stationery. Synergy!
No way Wells Fargo will get into the I-Banking game.
Posted by guest , Sep 17, 2008 10:25AM
Cramer just mentioned some list that shows what positions have more shorts against than borrowings outstanding. Anyone have any idea where to get that?
-MS
Posted by guest , Sep 17, 2008 10:26AM
Gold's makes great horse radish.
Posted by blndebnker , Sep 17, 2008 10:27AM
@MostOffensive - Again, I'm thinking Goldman would win that pissing contest and it operations would stay downtown. Maybe get some space in the new WTC?
Posted by guest , Sep 17, 2008 10:29AM
You are all forgotting that there is only one investment bank that will post a healthy profit for 3rd quarter, so try the name LazMor
Posted by guest , Sep 17, 2008 10:29AM
Cramer just mentioned some list that shows what positions have more shorts against than borrowings outstanding. Anyone have any idea where to get that?
-MS
Posted by guest , Sep 17, 2008 10:31AM
WB is way too damn large to just be "bought" by anyone. We pretty much have to hope they survive.
Posted by guest , Sep 17, 2008 10:33AM
46 in the early lead for comment of the day.
Posted by guest , Sep 17, 2008 10:35AM
Wells Fargo is not going to be buying any Ibank. The new firm will be JP Morgan.
Wachovia is too large to legally sell it to anyone big enough to take it over. People keep forgetting how damn big this fucked-up company is.
WaMu will probably be sold this Friday at 6 PM.
Posted by guest , Sep 17, 2008 10:36AM
When is Uncle Sam going to seriously go after the real culprits in this mess? The f'n individual ballers, rainmakers, & execs who actually engineered these toxic f'n securities and who actually pulled the trigger on their sale/purchase, and who actually made fortunes from their f'n ponzi schemes?
I'm not talking about all the saps who've been laid off, no am I talking about the clowns on DB. I'm talking about the really heavy hitters who are still on the job, or who are now infesting other firms, or who have retired, or who are "on sabbatical".
Uncle Sam can find out who they are. How many really-serious criminals can there be? A few thousand?
The Guy from Delaware
Posted by guest , Sep 17, 2008 10:38AM
CIBC Morgan. Woops ... CIBC already bailed from Wall St
Posted by guest , Sep 17, 2008 10:44AM
This is all great and all but what will the VP bonuses be at the new entity?
Posted by guest , Sep 17, 2008 10:45AM
How bout "Entitled Jews"
Posted by guest , Sep 17, 2008 10:46AM
Morman Stachs
Posted by guest , Sep 17, 2008 10:47AM
are u trying to rationalize gasparinos reporting? theres nothing exceptional about those trades, sorry to burst the excitement bubble
Posted by guest , Sep 17, 2008 10:48AM
@46 HAHAHAHA, good one!
Posted by guest , Sep 17, 2008 10:48AM
#55
Paulson's Treasury to become the No.1 adviser for US Mergers & Acqusitions by value. (Dislodging Goldman Sachs)
Paulson' Treasury to become the No.1 North American FIG M&A adviser by value. (Gary Parr at Lazard will be fuming!)
Paulson's Treasury will also become the No.1 Arranger of low-yield junk bonds (Fed bills being planned today).
Paulson's Treasury to become the No.1 US Restructuring Adviser by value. (David Resnick & Todd Snyder of Rothschild, and Barry Ridings & Jim Milstein are totally pissed off)
Posted by guest , Sep 17, 2008 10:50AM
are u trying to rationalize gasparinos reporting? theres nothing exceptional about those trades, sorry to burst the excitement bubble
Posted by guest , Sep 17, 2008 10:51AM
@64 #46 is definitely best comment of the year.
Posted by guest , Sep 17, 2008 10:51AM
@55 - Agreed. Genius.
Posted by FUNdamental , Sep 17, 2008 10:52AM
I'm thinking gs really likes having gold in the nombre there, so a fair compromise (and best name) would be Stanley golden sachs. Some new...some old, and indicates they all have their bits and pieces gilded!
Posted by guest , Sep 17, 2008 10:52AM
@ 57 you really are an idiot aren't you. When in doubt always blame risk.
Posted by guest , Sep 17, 2008 10:52AM
morgman sacstley!
Posted by guest , Sep 17, 2008 10:52AM
I understand that the Government of Kosovunistan has already placed a bid on Morgan Stanley...
Posted by guest , Sep 17, 2008 10:53AM
Mor-Gold Sacks
Posted by blndebnker , Sep 17, 2008 10:54AM
@66 - I'm going to have to call a shenanigans on that. The best comment of the year was definitely "I don't make money, I print it."
Posted by guest , Sep 17, 2008 10:56AM
I can't wait for the book - "Bridges over Wall Street" By Hank & Paul with intro by Woody Allen
Posted by guest , Sep 17, 2008 10:58AM
TGFD sounds like Pelosi
Posted by guest , Sep 17, 2008 10:59AM
I understand that the Government of Kosovistan has already placed a bid on Morgan Stanley...
Posted by blndebnker , Sep 17, 2008 11:05AM
@68 - HA. Gilded bits and pieces. Lovely.
Posted by guest , Sep 17, 2008 11:07AM
@64....what is associate pay at the FED?
Posted by guest , Sep 17, 2008 11:11AM
My dentist's name is Stanley Goldman
Posted by FUNdamental , Sep 17, 2008 11:12AM
Thx blnde. Not sure I agree with the comment of the year though....
Posted by guest , Sep 17, 2008 11:15AM
@blndie -- that wasn't a DB comment, "I don't make money, I print it." is just the marketing slogan of the new HankBank. Came in just ahead of Citi while they were taking a quick nap.
Posted by guest , Sep 17, 2008 11:16AM
candyasses@#69,@#75...
Just let the criminals go, right? No accountability. Astronomical crime always pays, doesn't it.
Let the system teeter, but don't pursue those who actually caused the f'n problem.
@#69...You are a fucking idiot.
@#75...STFU.
The Guy from Delaware
Posted by guest , Sep 17, 2008 11:17AM
GS not going to happen. Cultural issues aside there's too much overlap.
Potential buyer list will look similar to preliminary list of who was looking at Lehman, with Barclays and BofA now off the list.
It's not a big group of names.
HSBC. Santander. Unicredit.
Maybe a French bank. Maybe a Japanese bank. Maybe RBS or Lloyds, but I doubt it.
In the US, JPM and Wells Fargo are the only names that I can think of, and neither is going to happen.
US would not let Chinese, ME or Russian money do this.
Posted by guest , Sep 17, 2008 11:19AM
Morgan Fed Sachs
Posted by blndebnker , Sep 17, 2008 11:34AM
@81 - Yeah but if you remember the whole comment, it was an entire rant that was capped off by that. And it was infamously used (and reused) on DB all spring. Perhaps you weren't around for it. But it was gold.
Posted by guest , Sep 17, 2008 11:35AM
#83
The French are not keen to do any i-bank deals in the US. They are keen to hire bankers and industry coverage teams to grow organically. But no wholesale purchases.
I wonder how long Santander can go on the acquiring spree. The Spanish economy is tanking fast and soon they will have to focus on their home market.
You're right, Bush, Paulson, and Benanke won't let Chinese money to buy Morgan Stanley. But the feeling is mutual. Beijing won't let any of their institutions buy a US i-bank. The feeling that prevails in the upper echelons of Beijing is that the US con'ed them into buying Fannie and Freddie bonds. But CITIC had a very brief look at Lehman a couple of days ago, maybe they will look at doing something with their friends at MS.
Posted by guest , Sep 17, 2008 11:58AM
Just gotta say that #46 is hilarious. Well played, sir, well played.
Posted by guest , Sep 17, 2008 12:05PM
Morgal Lazard
Posted by guest , Sep 17, 2008 12:55PM
Shmasmortion
Posted by guest , Sep 17, 2008 1:42PM
#45 (Mr. NJ Transit): you read this shit?
Posted by guest , Sep 17, 2008 1:46PM
#45 (Mr. NJ Transit): you read this shit?