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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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Mon, 08/08/2011 - 15:31 | 1538651 Lmo Mutton
Lmo Mutton's picture

Bank run bitchez!!

Mon, 08/08/2011 - 15:47 | 1538750 Cleanclog
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Can you imagine how many imbalances there are going to be? Margin calls? People will be working all night.

Mon, 08/08/2011 - 15:47 | 1538754 Sudden Debt
Sudden Debt's picture

ALL YOUR MONEY  BELONGS TO US BITCHEZ!!!

 

Mon, 08/08/2011 - 16:45 | 1539261 Ethics Gradient
Ethics Gradient's picture

Nearly. This one's a little closer:

All your money are belong to us - Zero Wing

Mon, 08/08/2011 - 15:34 | 1538671 silvertrain
silvertrain's picture

This happens just before short selling becomes illegal..

Mon, 08/08/2011 - 15:48 | 1538762 Sudden Debt
Sudden Debt's picture

New Presidents Get elected...

Mon, 08/08/2011 - 17:24 | 1539481 chubbar
chubbar's picture

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

Mon, 08/08/2011 - 15:34 | 1538673 Mister Ponzi
Mister Ponzi's picture

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

Mon, 08/08/2011 - 15:35 | 1538676 treemagnet
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.

Mon, 08/08/2011 - 15:43 | 1538722 Pool Shark
Pool Shark's picture

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

Mon, 08/08/2011 - 16:21 | 1539053 Solid
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

Mon, 08/08/2011 - 15:37 | 1538685 hungarianboy
hungarianboy's picture

Probably some technical issue.

Mon, 08/08/2011 - 15:38 | 1538689 Cognitive Dissonance
Cognitive Dissonance's picture

I want my MTV. Or money if you can.

Mon, 08/08/2011 - 15:49 | 1538768 Cleanclog
Cleanclog's picture

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

Mon, 08/08/2011 - 15:39 | 1538691 fuu
fuu's picture

The storm gathers strength.

Mon, 08/08/2011 - 15:39 | 1538692 JuicedGamma
JuicedGamma's picture

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

Mon, 08/08/2011 - 15:45 | 1538745 treemagnet
treemagnet's picture

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

Mon, 08/08/2011 - 16:06 | 1538915 IQ 145
IQ 145's picture

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

Mon, 08/08/2011 - 20:55 | 1540209 Sokhmate
Sokhmate's picture

Etrade out the wazoo.. all the way.

Mon, 08/08/2011 - 16:33 | 1539177 andybev01
andybev01's picture

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

Mon, 08/08/2011 - 16:52 | 1539309 greenbear
greenbear's picture

"We EMBEZZLE it."

Mon, 08/08/2011 - 18:13 | 1539669 Manthong
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.

Mon, 08/08/2011 - 15:39 | 1538694 machineh
machineh's picture

Guess those clients missed the memo:

'Sell in May and go away!'

Mon, 08/08/2011 - 15:39 | 1538697 Cone of Uncertainty
Cone of Uncertainty's picture

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

Mon, 08/08/2011 - 16:08 | 1538930 IQ 145
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.

Mon, 08/08/2011 - 18:15 | 1539675 Bobbyrib
Bobbyrib's picture

The trophy wife will leave his ass for a techie.

Mon, 08/08/2011 - 15:41 | 1538707 Cone of Uncertainty
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.

Mon, 08/08/2011 - 15:42 | 1538714 Iriestx
Iriestx's picture

Circuit breakers off, sell this fucker!

Mon, 08/08/2011 - 15:43 | 1538721 hungarianboy
hungarianboy's picture

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

Mon, 08/08/2011 - 15:43 | 1538723 Count Laszlo
Count Laszlo's picture

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

Mon, 08/08/2011 - 15:43 | 1538728 PulauHantu29
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.

Mon, 08/08/2011 - 15:44 | 1538729 Agent 440
Agent 440's picture

Submarine service looks really good on resumes now.

Mon, 08/08/2011 - 15:44 | 1538731 nodhannum
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.

Mon, 08/08/2011 - 15:44 | 1538733 Caviar Emptor
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. 

Mon, 08/08/2011 - 15:44 | 1538735 Spitzer
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

Mon, 08/08/2011 - 16:13 | 1538964 IQ 145
IQ 145's picture

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

Mon, 08/08/2011 - 15:44 | 1538736 Cone of Uncertainty
Cone of Uncertainty's picture

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

Mon, 08/08/2011 - 15:45 | 1538738 tekhneek
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.

Mon, 08/08/2011 - 15:48 | 1538759 Caviar Emptor
Caviar Emptor's picture

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

Mon, 08/08/2011 - 15:49 | 1538763 Eyes on the World
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.

Mon, 08/08/2011 - 15:50 | 1538772 Count Laszlo
Count Laszlo's picture

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

Mon, 08/08/2011 - 15:52 | 1538789 RobD
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?

Mon, 08/08/2011 - 16:14 | 1538986 IQ 145
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.

Mon, 08/08/2011 - 15:45 | 1538739 Pool Shark
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...

Mon, 08/08/2011 - 15:45 | 1538741 Eyes on the World
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.

 

Mon, 08/08/2011 - 15:45 | 1538744 Atomizer
Atomizer's picture

oh looky, we are back to -600

Mon, 08/08/2011 - 15:46 | 1538749 Pool Shark
Pool Shark's picture

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

Mon, 08/08/2011 - 18:34 | 1539743 Jasper M
Jasper M's picture

LOL! Best comment of the evening! Kudos!

Mon, 08/08/2011 - 15:47 | 1538751 John McCloy
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. 

Mon, 08/08/2011 - 15:49 | 1538770 Caviar Emptor
Caviar Emptor's picture

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

Mon, 08/08/2011 - 16:27 | 1539134 Solid
Solid'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."

Best place in the world to get drunk!
What's that homeless guys name that sleeps right out on the beach?

Mon, 08/08/2011 - 16:54 | 1539323 John McCloy
John McCloy's picture

  I never been did you enjoy it?

Mon, 08/08/2011 - 15:48 | 1538756 Atlantis Consigliore
Atlantis Consigliore's picture

Look! up in the sky, is it a bird is it a plane?

no its Berflunky the double dip man,

yes its Berflunky able to print trillions of weimar currency in a single bound,

yes its Berflunky more powerful than a locomotive able to print trillions of fake dollars in a single round,

yes its Berflunky able to lie and support tax and spend, yes Berflunky, lisping and weasing and eating porridge on a too big to fail movie. its

Berflunky I gotta a degree and I can lie just like Timmy and I can sqeak and lie and Im important too.

LOL. what a farce. hows that $ 5 Trillion in fake downgraded debt working for ya.

too big to take a dump.

Mon, 08/08/2011 - 15:48 | 1538760 Bam_Man
Bam_Man's picture

"All your investment are belong to us."

Mon, 08/08/2011 - 17:58 | 1539621 fwchiro
fwchiro's picture
hah...You have no chance to survive make your time.
Mon, 08/08/2011 - 15:48 | 1538761 Lord Maximus
Lord Maximus's picture

WHERE ARE THE COMPUTERS?!?!?!?!

GO COMPUTERS GOOOOOOO!!!!

Mon, 08/08/2011 - 15:49 | 1538767 chump666
chump666's picture

handle broke on the dow 600 point + loss.  

Mon, 08/08/2011 - 15:49 | 1538769 Misean
Misean's picture

Perhaps they recommitted some server resources from the buy side of the business...

Mon, 08/08/2011 - 15:50 | 1538771 fiddler_on_the_roof
fiddler_on_the_roof's picture

All of this feels like a dream. The whole last week felt like one.

Never imagined Gold will go so opposite to S&P so fast.

Mon, 08/08/2011 - 15:51 | 1538778 Pool Shark
Pool Shark's picture

DOW/Gold ratio down to 6.3 and counting....

Mon, 08/08/2011 - 15:52 | 1538792 Caviar Emptor
Caviar Emptor's picture

Tells ya something. 

Mon, 08/08/2011 - 15:51 | 1538781 Takingbets
Takingbets's picture

8 more minutes till the close, where's my DOW 10,000 hat at?

Mon, 08/08/2011 - 16:01 | 1538871 11b40
11b40's picture

Etrade & Schwab both running slow and displaying funny.

Mon, 08/08/2011 - 15:51 | 1538787 Caviar Emptor
Caviar Emptor's picture

....And just like that...stocks are all worthless trillions of little pieces of paper signed by bozos with golden parachutes....

Mon, 08/08/2011 - 15:53 | 1538800 US Uncut
US Uncut's picture

How do you email Tylers? Fidelity also experiencing technical difficulties.

Mon, 08/08/2011 - 15:55 | 1538801 Takingbets
Takingbets's picture

  NYSE NASDAQ
Advances 270 (6%) 169 (6%)
Declines 3,937 (93%) 2,537 (92%)
Unchanged 17 (0%) 39 (1%)
Up Vol* 762 (98%) 36 (1%)
Down Vol* 12 (2%) 3,278 (99%)
Unch. Vol* 2 (0%) 4 (0%)
New Hi's 65 5
New Lo's 1,383 635
*in millionsmore...
Most Actives

Notice the up volume on the NYSE?

Mon, 08/08/2011 - 15:53 | 1538807 Lmo Mutton
Lmo Mutton's picture

I have $21 left at BAC.  

To lazy to go get it.  Watching the parade and all.

Mon, 08/08/2011 - 15:55 | 1538822 Pool Shark
Pool Shark's picture

BAC holds my mortgage.

I wonder where I should mail the check next month...

 

Mon, 08/08/2011 - 15:55 | 1538814 Caviar Emptor
Caviar Emptor's picture

Anymore of these 6% down days and we'll be lookin' at 2009 lows in time for September....Spooky

Mon, 08/08/2011 - 15:55 | 1538815 Pool Shark
Pool Shark's picture

"Remain calm; all is well."

"All is well!!!"

http://www.youtube.com/watch?v=zDAmPIq29ro

Mon, 08/08/2011 - 15:56 | 1538825 Caviar Emptor
Caviar Emptor's picture

But but but ...I thought they all said stawks were cheap! Cheap to keep! 

Mon, 08/08/2011 - 15:57 | 1538835 ziggy59
ziggy59's picture

When even master card won't save your ass....PANIC!

Mon, 08/08/2011 - 15:57 | 1538838 Caviar Emptor
Caviar Emptor's picture

Tea Party members renaming themselves: Stock Party.....dumping wholesale into the harbor

Mon, 08/08/2011 - 15:58 | 1538849 Bay of Pigs
Bay of Pigs's picture

Some real comic relief over at the BlowHorn [CNBC].

"Gold isn't trading on fundamentals"

Maria Barfaroma

Where's Cdad when you need him on this historic day?

Mon, 08/08/2011 - 16:20 | 1539054 IQ 145
IQ 145's picture

That's a great quote. Fundamentals ehh? what a laugh. What is fundamental? Fear. Fear is fundamental, Maria; repeat this to yourself 200 times until you get it.

Mon, 08/08/2011 - 19:00 | 1539836 rufusbird
rufusbird's picture

"Maria, please explain to us what your view of the 'fundamentals' is please..."

Mon, 08/08/2011 - 16:00 | 1538872 Takingbets
Takingbets's picture

One of the bloodiest days in The DOW's history! This was just said on Bloomberg by Matt.

Mon, 08/08/2011 - 16:07 | 1538922 Ms. Erable
Ms. Erable's picture

No worries - Doc Ben will be by with the leeches to clean that right up!

Mon, 08/08/2011 - 16:05 | 1538902 Pool Shark
Pool Shark's picture

While the DOW's point loss today was greater than 'Black Monday' in 1987, the percentage loss was only about 1/4 that from 1987.

Hereafter, should we refer to August 8, 2011 as "Dark Grey Monday"?  

Mon, 08/08/2011 - 16:19 | 1539043 Poule Mouillee
Poule Mouillee's picture

Where do I order the "I survived Dark Grey Monday" T-shirt?

Mon, 08/08/2011 - 16:04 | 1538903 Cone of Uncertainty
Cone of Uncertainty's picture

Every banking institution in the world is at risk of failure.

Get you money out now, so you never have to tell your grandkids that you lost it all during the Great Collapse of 2011.

Mon, 08/08/2011 - 16:18 | 1539025 US Uncut
US Uncut's picture

Fidelity's site is unaccessible. Hanging up, technical difficulties. I think folks are logging in to see what they lost. I moved all of the rest of my stuff to a savings' fund and it was accessible all day. But 5 minutes before the close, the site started to fail. So did most people not know this was happening and are just waking up to all this? ANd looking to see what is left? Rather than move money around while watching it all fall, knowing tomorrow will likely be a repeat?

Mon, 08/08/2011 - 16:22 | 1539075 donethat
donethat's picture

Didn't have a problem with Active Trader Pro.

Mon, 08/08/2011 - 16:19 | 1539032 trx
trx's picture

..or maybe there is another explanation?

 

Hackers: Wall Street Is An Easy Target

Mon, 08/08/2011 - 16:19 | 1539038 trx
trx's picture

..or maybe there is another explanation?

 

Hackers: Wall Street Is An Easy Target

Mon, 08/08/2011 - 16:32 | 1539170 citrine
citrine's picture

when the things go not quite as expected, just yank the power cord. Our own institutions appear to be learning.

They seem to have discovered this trick few years ago when Michael Burry was trying to reach them. They are good at it now.

Mon, 08/08/2011 - 17:06 | 1539405 papaswamp
papaswamp's picture

"we are sorry but our brokers are presently dumping all their holdings...we will get to as soon as possible...your wait time is 35 minutes"..........beepbeepbeepbeepbeepbeep

Mon, 08/08/2011 - 17:18 | 1539460 drswhaley
drswhaley's picture

everyone should call in collect - whether or not they have an account.

Mon, 08/08/2011 - 22:18 | 1540606 Tunga
Tunga's picture

TRANSITORY FLEXIBILISATION IS CURRENTLY IN PROGRESS; PLEASE HOLD. YOUR CALL IS IMPORTANT TO US BITCHEZ.

Mon, 08/08/2011 - 22:29 | 1540665 Buck Johnson
Buck Johnson's picture

They are by hook and crook (and not the only ones) trying to slow down the mechanizations of bank run.  They know that they have no money, and so are using everything in their disposal to slow or stop.  If we don't get a QE3 by tomorrow afternoon, we may start to see MMF stopping redemptions.

Mon, 08/08/2011 - 23:28 | 1540982 Grand Supercycle
Grand Supercycle's picture

THE S&P 500 MONTHLY CHART THAT FORECAST THE CRASH.

Further downside expected.

http://bit.ly/x618

Wed, 09/14/2011 - 05:14 | 1667544 chinawholesaler
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