Morgan Stanley Bonds Trade at Junk Pricing

Mike Shedlock

Morgan Stanley's corporate borrowing costs are already way higher than Goldman Sachs and more downgrades are likely in the works.

The Fiscal Times explains How Morgan Stanley sank to junk pricing

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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6 Comments So Far

JoeHaverty Wrote: Jun 04, 2012 2:55 AM

It's time for Patricia Beard to update her 2007 book, Blue Blood and Mutiny.She lauded the return of John Mack with the endorsement of the 'Gang of Eight' retired MS elders. They humiliated Philip Purcell for his conservative approach to junk bond trading and forced his resignation.
Mack turned his bond traders loose to engage in reckless practices that has brought this once pre-eminent firm to its knees. Purcell is owed the most humble apology in the history of Wall Street.

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Blair31 Wrote: Jun 03, 2012 9:39 PM

Morgan Stanley's bonds aren't any good.

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calhar Wrote: Jun 03, 2012 12:54 PM

If people didn't live so high on the hog we wouldn't have these problems.To coin a phrase from a Clint Easwood movie.YOU GOT TO KNOW YOUR LIMITATIONS.

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geotay Wrote: Jun 03, 2012 1:48 PM

Gibberish.

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JOHN1464 Wrote: Jun 03, 2012 7:54 AM

Mike, That is insane. These banks could push us over a cliff. We need to bring back The Glass-Steagall Act back more than ever.

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Greg1084 Wrote: Jun 03, 2012 8:58 AM

No economist I have read or heard advocates bringing back Glass-Steagall, but it sure as hell makes sense to me in the sense that if people want security for their savings, they shouldn't be at risk from bankers who have lost their good sense. Does that make sense? I'm getting the sense that I might need to invest in a thesaurus.

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Morgan Stanley Bonds Trade at Junk Pricing

Mike Shedlock

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