The way Whitney sees it, some kind of sugar daddy or "rich uncle" setup is Morgan Stanley's only hope for survival going forward.
...in the wake of a disappointing second-quarter report. Meredith Whitney, of her own Meredith Whitney Advisory Group, said there was little to “chat about” given the particularly weak 4% return on equity Morgan Stanley sported. “It can’t be much fun to be a shareholder of Morgan Stanley, and, things got a lot worse this past June when Moody’s downgraded the company’s debt to one of the lowest ratings of its competitors,” Whitney wrote, as the first sentence of her research report. “With a 4% ROE, at what point does it make sense for Morgan Stanley to begin looking for ‘a rich uncle’?”
Morgan Stanley Gets Some Tough Advice From Whitney, Mayo [DealJournal]