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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