Reuters is one of many reporting rather nasty spikes in Morgan Stanley’s credit default swaps. To wit:
Debt protection costs for Morgan Stanley rose as the bank’s five year credit default swaps rose to an upfront payment of 28 percent the sum insured plus 500 basis points a year, from 19 percent on Thursday, according to Phoenix Partners Group.
That and the downgrade warning from Moody’s make it a tough day for what’s left of the bank.
Morgan Stanley CDS rise to 28 pct upfront [Reuters]
Morgan Stanley Extends Drop; Moody’s Mulls Rating Cut [Bloomberg]
oh God… i know someone who works there…
If Mitsubishi pulls, those guys are toast.
i work there and my entire team and the MD just got pink slipped. VP ED MD
If I were Mitsubishi, I would say sayonara.
These guys are toast. They’re either going to be nationalized or sold to the samurai (with that still-pending infusion being worth as much as MS is).
#3 is a fucking liar. What group dumbshit. Whats the names? I’ll check it in the directory.
Mitsubishi remembers that we shot down all their Zeros during the big one. They still respect our dicks for kicking them in the ass 50 years ago.
BOOOOOONNNNNNZZZZZAAAAAAAAAIIIIIIIIIIIIIIIIIII !!!!!!!!!!!!!!!!!
even if Mitsubishi doesn’t pull out they’re fucked.
mogan?
Mogan Stanley? Is that the new Japanese conglomerate?
I think what the market is saying is that “we actually think mitsu is closing and we still need you to get bought.”
I work at MS. No one got pink slipped. 3 is a liar.
@11 you know 3 is probably not talking about layoffs at operations, so you might not know
Mogan Stanley? Is that the new Japanese conglomerate?
mogan stanRey. kamikaze shots all round
mogan stanRey. kamikaze shots all round
mogan stanRey. kamikaze shots all round
@3 is right. Heard about it too.
Give names.
They should borrow the 9 billion from Mitsubishi or anywhere else, buyback all of their shares and take themselves private until the market can’t bend them over anymore
ComfortablySmug
#3 is right. posting names publicly is dbag, though.
@3 is incorrect… the traders are staying until at least 4pm, had lunch with one at 1
but i think they’ll try to get out of the office a little early.. at least my friend said he was
you go, 19
oh yeah, the traders are shorting their own firm so they’re alright.
whats all this bullshit
nobody has any idea whats going on. everyone talks like theyre part of the firm. stop acting like you know whats going on you wannabes. go back to your holes and keep selling your pottery or whatever you do as a job.
pink slips my arse. not in trading, not in ib, not in wm, not in im, not in cs.
show me the pink slips
And the meek shall inherit the earth!