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Investment Bank Bailout: PBS Videos: Charlie Rose Interviews Morgan Stanley Chairman and CEO John Mack. Broadcast Monday Feb. 23

I will have more commentary on these 2 videos later, but for now here is the converstaion as Charlie interviews Morgan Stanley Chairman and CEO John Mack.  Their broad financial discussion touches upon the almost collapse of Morgan Stanley in late September, the fall-out from the failure of Lehman Brothers, the abysmal state of the economy and the current global financial crisis.  Morgan Stanley has received $25 billion in taxpayer funds as part of the broad capital injections into troubled banks conducted by former Treasury Secretary Hank Paulson under the auspices of TARP. 

The above clip is approximately 7 minutes and is a summary of the complete 55 minute version found inside.  Mack seems somewhat resigned to life as a recipient of bank bailout largesse from taxpayers.

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Reader Comments (7)

I am shorting Morgan Stanley down to $10. There is a chance it will not make it to the other side of the Depression. First.
Feb 25, 2009 at 1:18 AM | Unregistered CommenterTupalo

A safer short is Goldman Sachs. The rally they have had makes them a prime candidate fro a pullback to 80. I am not sure that I would short MS down here. Just my thoughts. Good luck.
Feb 25, 2009 at 1:21 AM | Unregistered CommenterPox On Your House
What nationality is John Mack, does anyone know? He looks persian or greek or maybe italian. He's the best looking bank CEO on wall street.

I would roll with him anytime. Ha.
Feb 25, 2009 at 1:26 AM | Unregistered Commenterjules
He's Lebanese. SRS tomoorow.
Feb 25, 2009 at 1:28 AM | Unregistered CommenterPlease No More Bailouts

more on some tax revolt tea parties getting started. worth a look for those interested in the protest.
Feb 25, 2009 at 2:04 AM | Registered CommenterDailyBail
I actually think MS did very well with taking away Smith Barney from Citi as Smith Barney is a very clean and profitable business. Citi is just plain stupid for giving up their most prized division. Morgan Stanley looks good in the long run.
Feb 25, 2009 at 10:56 AM | Unregistered CommenterSanta Monica Monster
Shorting sucks....it has no place in an Economy....the very concept of it makes no sense in a macroeconomic perspective.
Feb 27, 2009 at 1:45 PM | Unregistered CommenterJim

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