Morgan Stanley Reputation

Can someone talk about Morgan Stanley's reputation (culture, actions)? People always mention things about Goldman's culture and their unity. I'm curious what people in the business think about MS. What are is the general talk about the people that work there and how they run their business. Thanks in advance!

 

This is getting fucking scary...this is looking sort of similar to the Lehman build-up. I don't work at MS, but I hope these fuckers are gonna be okay for the general health of Wall Street...

Asatar:
Gonna call it right now, MS bought out by another bank before Nov2012!

By who? All of the banks are struggling right and now trying to shore up capital. Current market cap on MS is $26 billion. An acquisition would require a substantial premium, unless we see another Bear Sterns situation where the only other option is bankruptcy. The only bank big enough and with a plausibly strong enough capital base is Wells Fargo. I doubt they want to do that after buying Wachovia and seeing how ML has worked out for BAC. Citi is clearly not an option either. The banks in Europe are in even worse shape.

 

Having worked in a french bank the last few months I can only say I am happy rumor-damage is going back to the US, and just take into consideration that 2bill exposure to PIIGS is around the exposure some french banks had by the time they got market-slaughtered, this without MS having the retail bank ownership advantages.

Valor is of no service, chance rules all, and the bravest often fall by the hands of cowards. - Tacitus Dr. Nick Riviera: Hey, don't worry. You don't have to make up stories here. Save that for court!
 
blastoise:
this is it'

i'm voting democrattes in 2012 the only reason why this is happening is bc of not enough regulations

Vote whomever you want... but blaming a lack of regulation is just plain ignorance. You might as well just regulate yourself right out of a job.

Or, you could just go to work for the government as a enforcer of proposed regulation?

 

I am embarrassed for all of those trolls out there who say Morgan Stanley is going to fail. Take a second to actually think through the issue. Morgan Stanley's CDS are currently trading at a larger spread than many of the European Banks. And why is causing the large spreads? That would be because they are exposed to European Bank debt. So Morgan Stanley only does poorly if the European Banks fail, but the CDS says that it is more likely that MS fails. Do you see the flawed logic there? It is completely circular logic.

 

^^French banks will be recapitalised by the french government before it ever gets to that. Think the US has the appetite to bail MS out if shit hits the fan? Don't think so. it would be political suicide. CDS levels could be pricing in different levels of an implicit government backing.

 

theres an excellent zero hedge article on the french bank exposure MS has.. couple this with the IASB commenting on the MTM on some of the assets held by some of these banks.. thats a recipe for disaster.

As for government intervention.. Its not a bad idea if they buy in via convertible preference shares.. get paid handsome divis and trade on the upside of the bank...

 

Word is they are possibly going to sell $5bill worth of bonds in Japan. I don't think they are going under, but until some warming headlines cross the price is going lower along with everyone else. Bernanke getting grilled by idiots on the hill today is likely to add momentum down.

With so many entities under pressure there is no way any of the large banks aren't rescued or taken over if it's needed, regardless of political appetite. Letting someone fail would be like ashing a cigarette over a polyester rug in a room that's used to store fireworks in the back of a gas station that doesn't have an emergency cutoff mechanism right after a gasoline truck pulled up and spilled a lot of bit.....have fun looking like a retard trying to put that out with a fire hose.

If no good news comes before their earnings report from abroad, they better have some good news for us. November puts.....who cares, just pick a number under 13.

"I'm short your house"
 
W.Beach:
Word is they are possibly going to sell $5bill worth of bonds in Japan. I don't think they are going under, but until some warming headlines cross the price is going lower along with everyone else. Bernanke getting grilled by idiots on the hill today is likely to add momentum down.

With so many entities under pressure there is no way any of the large banks aren't rescued or taken over if it's needed, regardless of political appetite. Letting someone fail would be like ashing a cigarette over a polyester rug in a room that's used to store fireworks in the back of a gas station that doesn't have an emergency cutoff mechanism right after a gasoline truck pulled up and spilled a lot of bit.....have fun looking like a retard trying to put that out with a fire hose.

If no good news comes before their earnings report from abroad, they better have some good news for us. November puts.....who cares, just pick a number under 13.

LOL 5b aint even gonna put a finger in the dike......once greece defaults or "restructures" the dominos WILL fall, and fall fast. Condolences to MS employees that had nothing to do with their failure.

 

$5bill is absolutely not enough, and they have been selling these type of bonds in Japan since April, but this is starting to attract more scrutiny of the firm. I know everyone is saying this isn't 2008, but this seems to be similar to some aspects. The guys who have to go out and raise capital are essentially chumming the waters.

They are getting cornered by zombies and using a .22 to fend them off. They need to bust out a BFG(Big Fucking Gun), create some breathing space, and hope that Europe will put on some man pants SOON. The longer they stand there, the worse it gets.

I still don't see any banks nose diving. If it was to come down to another Lehman weekend, there really is no choice but to make sure they don't collapse. Lehman is obviously still fresh in everyone's mind, and the destruction from a round two is very apparent. Even with high levels of douchebaggery in politics today, I don't think anyone is going to scuttle their only life raft in the middle of the Atlantic. My concern is how long it takes them to pull that cord and get on board as the sharks close in.

"I'm short your house"
 
W.Beach:
$5bill is absolutely not enough, and they have been selling these type of bonds in Japan since April, but this is starting to attract more scrutiny of the firm. I know everyone is saying this isn't 2008, but this seems to be similar to some aspects. The guys who have to go out and raise capital are essentially chumming the waters.

They are getting cornered by zombies and using a .22 to fend them off. They need to bust out a BFG(Big Fucking Gun), create some breathing space, and hope that Europe will put on some man pants SOON. The longer they stand there, the worse it gets.

I still don't see any banks nose diving. If it was to come down to another Lehman weekend, there really is no choice but to make sure they don't collapse. Lehman is obviously still fresh in everyone's mind, and the destruction from a round two is very apparent. Even with high levels of douchebaggery in politics today, I don't think anyone is going to scuttle their only life raft in the middle of the Atlantic. My concern is how long it takes them to pull that cord and get on board as the sharks close in.

the easiest way to temporarily plug the hole is to fuck the taxpayer. If this happens there will be civil unrest in NYC. People>govt forces....its only a matter of time til this situation comes to a head.

 

I'm not sure a bailout would get passed no matter how severe the repercussions are for not doing it. Our politicians are completely reckless and stupid. To make matters even worse, if there was another bailout it would probably cause rioting

"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
 
cplpayne:
I'm not sure a bailout would get passed no matter how severe the repercussions are for not doing it. Our politicians are completely reckless and stupid. To make matters even worse, if there was another bailout it would probably cause rioting

I completely agree the rioting, although I think that will happen regardless. A bailout needs to be silent without anybody knowing about it, which obviously won't occur because Obamacoon's secret desire is to have no banks.

 

Might as well short GS. Any situation that would take MS down would certainly take GS down too. Similar profiles and limited Euro exposure. Thus, less total massive European default, any type of scare big enough to bring down MS would move right to GS.

If you are convinced MS is doomed, might as well get an extra burial plot...

 

A part of me hopes that the shit does hit the fan and the people get what they demand. A year later I will beg/borrow/steal enough money to buy up some billboard space in time square and post a plummeting graph that shows what happens as banks all around the world collapse. It will read on the bottom "Good call America", and just because I want it to, "You see this Larry? You see this? This is what happens when you fuck a stranger in the ass".

When you say people>govt forces ....I'm going to assume that forces refers to police and maybe armed forces.....If Grand Theft Auto has taught us anything, rolling an Abrams tank through a crowd really disburses things and no one likes to swallow rubber buckshot.

Seriously though....scenarios like that are just dangerous, and in extreme cases can lead to war I would bet. Cascading defaults and so on really would hurt US/China relations.....

"I'm short your house"
 

Search this site for the Citi FICC report.

MS is strong for IB, Equities, and Commodities, but is still weak in other areas of fixed income. It has a strong name brand and it is improving, but it still has not fully recovered.

If you want fixed income sales and trading aim for GS, JPM, Barcap, and DB (to a certain extent). These were the four banks that I saw the most interaction with while I was interning, Barcap especially. In fact, most of the traders had nothing but respect for Barcap.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

banks are fucked now with the op twist announced today.....they cant make money by borrowing short term due to higher interest rates 6yrs due to lower interest rates. This is reallllly going to fuck banks right in the ass. They cant make money anymore! You think bank stocks are low now....LOL. I can assure you they are headed for a turn for the worse. Welcome mass bank and finance related layoffs 11-12 :) I feel bad for anyone graduating trying to get into banking now, you will be graduating into a hiring freeze across the board.

 

Looks just like a recruiting video they show at college campuses, and then when its too late its turns into a slave ship.... negro spirituals and all.

I hope this is better than the last batch of shit you gave me. Produced more wood than Ron Jeremy. I don't want you to yell, "Reco!" anymore. Know what you should yell? "Timber!" Yeah, Mr. Fuckin' wood.
 
TheodoreBonkers:

Looks just like a recruiting video they show at college campuses, and then when its too late its turns into a slave ship.... negro spirituals and all.

Couldn't have been said better.

in it 2 win it
 
Best Response

I think this joke is appropriate.

An HR manager was knocked down (tragically) by a bus and was killed. Her soul arrived at the Pearly Gates, where St.Peter welcomed her. “Before you get settled in” he said, “We have a little problem…you see, we’ve never had a HR manager make it this far before and we’re not really sure what to do with you.”

“Oh, I see,” said the woman, “can’t you just let me in?”

“Well, I’d like to,” said St Peter, “But I have higher orders. We’re instructed to let you have a day in hell and a day in heaven, and then you are to choose where you’d like to go for all eternity.”

“Actually, I think I’d prefer heaven”, said the woman. “Sorry, we have rules…” at which St. Peter put the HR manager into the downward bound elevator.

As the doors opened in Hell she stepped out onto a beautiful golf course. In the distance was a country club; around her were many friends, past fellow executives, all smartly dressed, happy, and cheering for her. They ran up and kissed her on both cheeks, and they talked about old times.

They played a perfect round of golf and afterwards went to the country club where she enjoyed a superb steak and lobster dinner. She met the Devil (who was actually rather nice) and she had a wonderful night telling jokes and dancing.

Before she knew it, it was time to leave. Everyone shook her hand and waved goodbye as she stepped into the elevator. The elevator went back up to heaven where St. Peter was waiting for her. “Now it’s time to spend a day in heaven,” he said.

So she spent the next 24 hours lounging around on clouds, playing the harp and singing; which was almost as enjoyable as her day in Hell. At the day’s end St. Peter returned. “So,” he said, “You’ve spent a day in hell and you’ve spent a day in heaven”. “You must choose between the two.”

The woman thought for a second and replied: “Well, heaven is certainly lovely, but I actually had a better time in hell. I choose Hell.”

Accordingly, St. Peter took her to the elevator again and she went back down to hell. When the doors of the elevator opened she found herself standing in a desolate wasteland covered in garbage and filth. She saw her friends dressed in rags, picking up rubbish and putting it in old sacks. The Devil approached and put his arm around her.

“I don’t understand,” stuttered the HR manager, “The other day I was here, and there was a golf course, and a country club. We ate lobster, and we danced and had a wonderful happy time. Now all there is, is just dirty wasteland of garbage and all my friends look miserable.”

The Devil simply looked at her and smiled, “Yesterday we were recruiting you, today you’re staff.”

 

I think these are so stupid. If you are attending at MS IB recruiting event, you want to be there. The kids who get the interviews at these target schools are going to want to work at MS whether some video tells them how cool MS and IB are or not.

 
Peabody:

I think these are so stupid. If you are attending at MS IB recruiting event, you want to be there. The kids who get the interviews at these target schools are going to want to work at MS whether some video tells them how cool MS and IB are or not.

True. No one ever gets offers from multiple banks or has to make a snap decision as to whether one identical bank has a better culture than another identical bank. No one has ever had to decide whether they want to work at MS or Lazard or Greenhill or GS.

 

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