$30.20
-0.40 (-1.31%)
Morgan Stanley (MS)
CAPS Rating:
A global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions and individuals.
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Kudos to Morgan Stanley for having the balls to send a thank you note to the government with their $10 billion TARP money!
We wonder if the note said:
1. Keep up those education cuts so the people picking up the bailout tab will never be able to read Section 4.9 of the CPP Securities Purchase Agreement
2. Thanks for shortchanging those taxpayers so our overworked and underpaid bank execs and their ball busting Lobbyists can pocket a few million
3. We wish to thank your appraisers for agreeing with our appraisers who independently low balled you.
Never fear Joe Average still holds GM warrants!
Regan vs. Obama
1980 when Chrysler wanted to get out of warrants owed to taxpayers for their bailout
Mr. Reagan told them to go to hell.
2009 when _________(you fill in the blank as the list will grow hourly) wanted to get out of warrants owed to taxpayers for their bailout
Mr. Obama told taxpayers the government is not in the business of making and saving you money were in the business of taking money from you!
Cheers Delta hedge season is over for you.
I was contemplating what I call "the new conduct" in regard to creditors. I am going to name it the "obama conduct." First let me preface by saying i think TARP is unconstitutional. Secondly TARP used for GM was criminal malfeasance. But what this has caused has been a total erosion of creditor rights. Consider LEA. Here is an automotive seat maker with 1.2 billion in cash. They would rather stiff a creditor for a 38 million payment, stiff the shareholder and are moving toward a "structured bankruptcy". Same as GM and CRY did to the creditors. This is a direct line of reasoning from obama. A union without a survivable claim was given 18% of GM for something that would have been extinguished in bankruptcy. The secured and unsecured creditors were shafted for 10%. And nitwit obama thinks that is just fine.
Worse, if you look at the FDIC bank deals, you will see purchases of bank assets at pennies to the dollar and shareholder equity wiped out entirely. These are net losses suffered by citizens and creditors! To me this is a violation of the 5th Amendment takings clause and the gov should be paying fair value for this theft that they have committed.
I wonder going forward, after the taxpayer and citizen are fleeced and creditor rights demolished, who will loan money to any business or individual? This undermines the fabric of American business and Capitalism. It goes after the essential handshake. Of course I guess obama doesn't have the socialization to know this since he and his wife are fist bumpers.
Lordrobot and disgruntled taxpayers what was you 2008 tax rate?
Goldman Sachs 2008 tax rate was 1%.
Lordrobot and disgruntled taxpayers who has 158 subsidiaries in the tax haven Cayman Islands? Morgan Stanley.
The president has noted: “You’ve got a building in the Cayman Islands that supposedly houses 12,000 corporations. That’s either the biggest building or the biggest tax scam on record.”
Looks like the Fraud Enforcement and Recovery Act might be a little busy!
Bailed Out Companies’ # of subsidiaries in Tax Havens
Bank of America # of subsidiaries in tax havens: 101
Citigroup # of subsidiaries in tax havens: 411
Goldman Sachs Group # of subsidiaries in tax havens: 28
Merrill Lynch (now part of BAC # of subsidiaries in tax havens: 19
Morgan Stanley # of subsidiaries in tax havens: 267
Wachovia Corp. (acquired by Wells Fargo) # of subsidiaries in tax havens: 57
Washington Mutual (acquired by JPMorgan Chase) # of subsidiaries in tax havens: 3
Wells Fargo # of subsidiaries in tax havens: 18
American Express (now a bank holding company) # of subsidiaries in tax havens: 39
American International Group # of subsidiaries in tax havens: 15
Hartford Financial Services # of subsidiaries in tax havens: 7 Prudential Financial # of subsidiaries in tax havens: 26
General Motors # of subsidiaries in tax havens: 10
GMAC # of subsidiaries in tax havens: 2
Posted as a blog when CAP refused to post our reply...sorry for the duplicate
Doesn't the big O understand that this would make people fearful to lend to companies and the goverment?
Or perhaps that's part of the plan. If so, allowing CA to default might be a logical step so he can slowly eliminate the preferred tax status of the 'munis.
Yes he can?
The beautiful thing about capitalism is that it a dance or a balancing act between crooks and regulators. Sometimes the crooks take the lead and sometimes the regulators. The public get dragged back and forth like a wet mop on the floor.
What happens when the crooks and regulators get in bed together?
What happens when the crooks and regulators get in bed together?
Just a guess....Probably one or both
1. Contract an STD...my guess.... syphilis...why syphilis?
Many people infected with syphilis do not have any symptoms for years, yet remain at risk for late complications if they are not treated......
2. Procreate and name their offspring Enron
America know's why the union was given what they were given. Can you say votes!!!! that is why government should not be involved in business. Because at the end of the day, every politician says whats in it for me. Sadly if we wanted to do away with a crime family we only need to look at congress and our President. Sad state of affairs.