In the 2008 financial crisis, Morgan Stanley (NYSE:MS) would not have been able to open its doors on Monday following the bailout weekend, according to emails sent by the New York Fed and revealed in the recent American International Group trial.
The depth and certainty of Morgan Stanley’s problems were previously unknown and point to additional pressure put on the New York Fed to develop a solution and question the popular portrait of John Mack, the brokerage firm's CEO in the matter.
Morgan Stanley's collapse would have made you forgotten about JPMorgan
Had Morgan Stanley (NYSE:MS) been allowed to collapse, “you could forget about JPMorgan Chase & Co. (NYSE:JPM)’s “fortress balance sheet,” wrote Yves Smith in a post on her blog
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