Archive - May 6, 2009 - Story

Dear Morgan Stanley,

We like you. Well, not in that way, but we are taxpayers. If we didn't like you, why would we give you billions of our money to insure your survival? So we kind of have to like you, same way we like our deviant, foster kids.

• Rick Americans default on luxury homes like subprime victims (Bloomberg)
• Fed seeks end to wall street lock over OTC derivatives market (Bloomberg)
• ADP provides some pre-market futures nudge (Reuters)
• Street deserves Chrysler medicine (

First we somehow managed to get on Goldman Sachs' nerves, now Morgan Stanley has gotten us in their crosshairs. In an internal e-mail distributed across virtually all of the investment bank, Zero Hedge is getting not only some serious free publicity, but some pretty amusing validation that in our "drivel" and "inanity" we may have very well hit some right notes... You know what they say about denial.

After a marathon session in bankruptcy court today, where many wide eyed female legal interns wearing fishnets and mini skirts to impress senior partners initially, are now merely bleary eyed, Judge Gonzalez decided to follow in Peck's footsteps, and to approve a procedure which would require a competing bid to the existing Fiat bid to emerge in about a week.

Either Hale-Bopp has made a U-turn and is headed straight back for earth or somehow people are shocked that BofA is about to sack Ken Lewis for class action lawsuit inducing misrepresentation of facts and GM is about to dilute shareholders by a factor of infinity to zero. All noise - the limit buys are about to hit the nitrous.

Either Hale-Bopp has made a U-turn and is headed straight back for earth or somehow people are shocked that BofA is about to sack Ken Lewis for class action lawsuit inducing misrepresentation of facts and GM is about to dilute shareholders by a factor of infinity to zero. All noise - the limit buys are about to hit the nitrous.

• Just out: Bank Of America needs $34 billion in capital per latest leak (Reuters)
• Banks that want to exit TARP must be able to raise debt without FDIC (Bloomberg)
• BlackRock equities chief investment officer expects 11% S&P drop led by bank