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View Full Version : Morgan Stanley: An Asset So Toxic They Called It ‘Nuclear Holocaust’



ElNono
01-23-2013, 03:01 PM
On March 16, 2007, Morgan Stanley employees working on one of the toxic assets that helped blow up the world economy discussed what to name it. Among the team members’ suggestions: “Subprime Meltdown,” “Hitman,” “Nuclear Holocaust” and “Mike Tyson’s Punchout,” as well a simple yet direct reference to a bag of excrement.

Ha ha. Those hilarious investment bankers.

Then they gave it its real name and sold it to a Chinese bank.

More here:
http://dealbook.nytimes.com/2013/01/23/financial-crisis-lawsuit-suggests-bad-behavior-at-morgan-stanley/?hp

boutons_deux
01-23-2013, 03:04 PM
Literally, the shittiest possible product for the highest possible price.