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

[ElNono]

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/...an-stanley/?hp

[boutons_deux]

Literally, the tiest possible product for the highest possible price.