Morgan Stanley's ClientServ Is "Transitorily" Unavailable; Withdrawal Requests May Or May Not Have Surged

Tyler Durden's picture

Update: it is now back online. Redemptions and liquidations shall proceed in an orderly, dignified manner please.

As Italy's bourse has demonstrated so very well over the past week, when the things go not quite as expected, just yank the power cord. Our own institutions appear to be learning. Today's example, Morgan Stanley ClientServ, which may or may not be inundated with redemption requests. One couldn't really know for sure...

h/t Back 9

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Lmo Mutton's picture

Bank run bitchez!!

Cleanclog's picture

Can you imagine how many imbalances there are going to be? Margin calls? People will be working all night.

Sudden Debt's picture

ALL YOUR MONEY  BELONGS TO US BITCHEZ!!!

 

Ethics Gradient's picture

Nearly. This one's a little closer:

All your money are belong to us - Zero Wing

silvertrain's picture

This happens just before short selling becomes illegal..

Sudden Debt's picture

New Presidents Get elected...

chubbar's picture

Except for naked shorting the gold/silver miners, that's always welcome!

Mister Ponzi's picture

"We are committed to providing first-class service and apologize for any inconvenience this may cause." LOL

treemagnet's picture

After we dump our personal holdings we'll be happy to sell yours into a bidless dump, thank you for holding - we care about you, sort of.

Pool Shark's picture

"remember, we'll always be there for you - provided it's in our own best interest."

Solid's picture

"After we dump our personal holdings we'll be happy to sell yours into a bidless dump, thank you for holding - we care about you, sort of."

That's the best

hungarianboy's picture

Probably some technical issue.

Cognitive Dissonance's picture

I want my MTV. Or money if you can.

Cleanclog's picture

OT  - looks like GS just bot a bunch of itself.  Suddenly different curve than other financials.

fuu's picture

The storm gathers strength.

JuicedGamma's picture

It's really just Dean Witter no matter what they call it.

treemagnet's picture

LOL, remember those "My broker is EF Hutton, and EF Hutton says...."

IQ 145's picture

"Merril Lynch is bullish on America"; that was my personal favorite. too bad they went bankrupt.

Sokhmate's picture

Etrade out the wazoo.. all the way.

andybev01's picture

"We make money the old fashioned way,..."

Manthong's picture

Everyone remain calm..  there are plenty of FRN's coming for everyone..

Just wait a moment while we ring up our buddies at the FRN factory.

machineh's picture

Guess those clients missed the memo:

'Sell in May and go away!'

Cone of Uncertainty's picture

No over-inflated fiat currency for you punk ass biatch Morgan Stanley customer.

IQ 145's picture

No over-inflated stock for the punk ass bitch managers; the kids will be going to "that other prep school"; and the trophy wife is leaving.

Bobbyrib's picture

The trophy wife will leave his ass for a techie.

Cone of Uncertainty's picture

They have now changed it:

 

You may experience a delay when you log into MorganStanley ClientServ. We are aware of the issue and are working to resolve it as quickly as possible. Client Service Representatives are available 24 hours a day, 7 days a week, and can be reached at 1 (888) 454-3965 or 1 (801) 617-9150 (collect calls accepted from overseas).

We are committed to providing first-class service and apologize for any inconvenience this may cause.

Iriestx's picture

Circuit breakers off, sell this fucker!

hungarianboy's picture

And it's working again. No panic, move along. tomorrow TARP2 or QE3

Count Laszlo's picture

Too bad. Getting rid of the grease and moving my mattress to Asia.

PulauHantu29's picture

Oh yeah....massive withdrawals as seniors, investors, youngsters, ...anyone with a few bucks invested races out of this market into Hard Assets and Cash. This crash will destroy another handful of our valued seniors I'm afraid....sad stuff.

Agent 440's picture

Submarine service looks really good on resumes now.

nodhannum's picture

Oooops!  I just stumbled across the plug.  So now the peasants pile up against the door of the burning theater just after we got out and bolted the door shut. Thanks JP Morgue.

Caviar Emptor's picture

Stanley Morgan and Laurel Hardy have left for Cuba in a private jet filled with gold. 

Adios, amigos. Your're on your own. 

Spitzer's picture

Warren Buffet is buying today, I guess he needs to average down haha

Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), whose top three shareholdings declined by about $1.6 billion last week, disclosed its biggest quarterly purchase of equities in almost three years.
Berkshire bought $3.62 billion of stock in the three months ended June 30, the most since it spent $3.94 billion in the third quarter of 2008, the Omaha, Nebraska-based company said late Aug. 5 in a filing.

3 months ended June 30

IQ 145's picture

Ha Ha. that's pretty interesting. Berkshire Hathaway; another fascinating story for the history books.

Cone of Uncertainty's picture

Flash crash coming in the last 10 minutes of trading today you fuckers.

tekhneek's picture

In all seriousness I have a friend who has a lot of cash in Bank of America and he doesn't agree with me that he should withdraw it.

Does anyone think there's a real reason to be concerned w/ BoA in terms of withdrawl limits/defaults/deposit loss?

...Thanks.

Caviar Emptor's picture

Careful out there. When the going gets rough things get nasty

Eyes on the World's picture

Absolutely there's reason to be concerned.  Anyone who continues to do business with does so at their own peril.

Count Laszlo's picture

Well, he's covered. But why keep your money in that dead fish. BoA is 100% done.

RobD's picture

I suggested on FaceBook that if any of my friends had money in BofA to get it out pronto...so far no replies...I guess none of my moron friends are in BofA?

IQ 145's picture

No. Stop bothering him about it. you've been mis-informed by "blog wisdom"/ the FDIC exists and it functions. end of story.

Pool Shark's picture

WOOO HOOO!!!

Time to dust off my "DOW 10,000" hat again.

I've gotten more use out of that thing...

Eyes on the World's picture

A woman who works with a family member said Bank of America told her at lunch their computers were down.  No further word, just that she couldn't conduct business at that time.

 

Atomizer's picture

oh looky, we are back to -600

Pool Shark's picture

The urgent care clinics across the nation will be jam-packed with knife catchers tonight...

Jasper M's picture

LOL! Best comment of the evening! Kudos!

John McCloy's picture

Bidless into the close...as FAZ pays for my entire trip to St. John in October and Painkillers for all at Soggy Dollar Bottom Bar. 

Caviar Emptor's picture

Dow is back in it's 2010 range. Getitng close to bear market territory