Huffpost Business

Will Morgan Stanley's John Mack Go The Way Of Chuck Prince And Stan O'Neal?

Posted: Updated:

Now it is Morgan Stanley's turn.

More than two years after the chief executive, John J. Mack, made a celebrated return to his old firm, promising to put more of the firm's capital at risk, it is becoming apparent that Morgan Stanley may have to take its own write-down for bad credit exposure.

Yesterday, David Trone, a securities analyst at Fox-Pitt Kelton, downgraded Morgan Stanley, forecasting that the brokerage firm could suffer losses of $6 billion related to the reduced value of credit investments.

Read the whole story at New York Times