Morgan Stanley CEO Buys $13.5 M. House

The New York Observer:

Less than a year after Morgan Stanley got its $10 billion TARP loan (and exactly two and a half months after the money was repaid), the mammoth firm's chief executive and chairman has bought a 33-foot-wide, 107-year-old limestone carriage house. It's in relatively bad shape, but might have the city's largest in-house garage.

Read the whole story: The New York Observer

Comments

[NilesCrane]

Oh thank god, for a moment there I thought he would have to live in a 10 million dollar house, that would have been tragic. At least we know there is a god who looking out for the rich while us little people (who dont deserve a home because its our fault that we were led to believe we could afford them) have live in shelters...

oh thank you god..................................

[Rule Of Law]

Corsair, the Life of J.P. Morgan,34 tells us that the Panic of 1857 nine hundred American companies failed. Significantly, one not only survived, but prospered from the crash. The Bank of England lent George Peabody and Company five million pounds during the panic of 1857, the equivalent of one hundred million dollars today, to save the firm. However, no other firm received such beneficence during this Panic. The reason is revealed by Matthew Josephson, in The Robber Barons. He says on page 60:

"For such qualities of conservatism and purity, George Peabody and Company, the old tree out of which the House of Morgan grew, was famous. In the panic of 1857, when depreciated securities had been thrown on the market by distressed investors in America, Peabody and the elder Morgan, being in possession of cash, had purchased such bonds as possessed real value freely, and then resold them at a large advance when sanity was restored."36

Thus, from a number of biographies of Morgan, the story can be pieced together. After the panic had been engineered, one firm came into the market with one million pounds in cash, purchased securities from distressed investors at panic prices, and later resold them at an enormous profit. That firm was the Morgan firm, and behind it was the clever maneuvering of Baron Nathan Mayer Rothschild.

Every twenty years they rob us. And we let them. The banks have all our money and will be shopping soon!

[janeycat]

it wont be long before we are reading about the insurance ceo's big house purchases...
knocks my socks off

[EminemsRevenge]

i remember when i was temping @Morgan Stanley when they still had the Dean Witter in their name. WAS supposed to be there COPYING documents, but instead i mainly SHREDDED Enron documents until the lawyers sent word down to stop...the ever ethical DW

[quindy]

Rarely is the question asked 'Is our criminal CEOs learning'.

[Rule Of Law]

And how much of a discount did he get it for this year after he had Morgan and Goldman crash the real estate market for him last year? And this is just one house. Look for the big Wall Street players to go bottom shopping for companies driven onto the ropes by their money policies. Companies that produce actual products, not just debt and lies. It's called money laundering.

[Bruce Fenton]

There is a misprint in the title
it should read

"Taxpayers buy 13.5M house for CEO of company that should not and would not exist in capitalist country."

[PhilipTaylor]

Wall Street Banks DO NOT WANT Homeowners to SUCCEED!

Wall Street Banks and their Hedge Fund Managers make OUTRAGEOUS PROFITS on FORECLOSURES as they own "MASSIVE and REPETITIVE CASINO BETS" that your mortgage will fail!

They want you to FAIL so they get the BIG PAY0FF!
__________ __________

There EV1L STEPS:

Make Loans to FAIL!

Bet the loans WILL FAIL!

Collect on Bets!
_______________

Add in Derivatives and it is “MANUFACTURED INSIDER TRADING” by Wall Street Banks and their Hedge Funds!

[lightningbolt]

It might be a good idea to leave him a huge graffiti note on the house's wall asking him to give us our bailout money back.

[IndelibleVoice]

Glad we could all help buy you a house--now brother, can you spare a dime?

[Yurdelite]

Must be republican.ts commenting that it's their money. How dum.b. If the taxpayers had not bailed them out they would have no company and no money. Hellooooooooooo. Same dumbos who are probably supporting the health insurance companies.

[monkeysuit]

This is exactly why I was against any kind of government bailout for these jerks. They ruin the economy and their companies and the government says here you go here is some money to make it through. The whole time these jack@sses are still running the company and still racking in the dough.



Monkeysuit
http://randompoliticalthoughtsandnews.blogspot.com/

[Scent]

So he used the money we gave him. - Big surprise.

His crimes are not related to buying a house, so how is THAT suddenly important? - He commited ever f-ing crime in the book to make himself and his buddies richer on money he took from everyone around the globe by any means.

Let him keep the house. A mere 15 Million is nothing. But give him a day in jail for every life ruined to make him richer. - We'd have to invent new life machines to keep him alive long enough. - But I BET that that kind of example would have an effect on the others who did the same.

[Troubledwawa]

What a guy...

(sarcasm)

[petera63]

They repaid the $10B two and a half months ago, so what's the problem, dudes?
Jealous?

[Yurdelite]

Ignorance is bliss for people like you. The problem is he almost lost the company because of his poor management. He gets money from the tax payers to bail his arse out. Then he thumbs his nose at the tax payers by buying a multi-million dollar house. If the tax payers had not bailed him out, he would not have a job or 13.5 million smackeroos to buy that house. GET IT?

[drymartini1]

The taxpayers made a profit. Yes they bailed out the bank, but they made money in the process.

Much more than what we can say about GM and Chrysler.

[allonfla]

they are jealous. I don't agree with crazy bonuses but don't hate.

[Furby]

Same beef I've always had since I was old enough to understand parity. Equal pay for equal work.

[factotem]

And I helped pay for it!
I'm so proud.