ABA Journal


Banking Law

Morgan Stanley lawyer had joke names for toxic assets sold overseas, including ‘subprime meltdown’

Jan 24, 2013, 01:35 pm CST


Morgan Stanley translated = "There's a sucker born every minute, and a lot of them are overpaid MBA's."

By AndytheLawyer on 2013 01 24, 5:38 pm CST

I'm still waiting for even one of these Wall Street types to do as much time as the punk who robbed the 7-11 down the street.

By Tyrone on 2013 01 24, 9:30 pm CST

It seems only fair, since people undoubtedly had joke names for Morgan Stanley lawyers.

By B. McLeod on 2013 01 25, 12:21 am CST

The bankers involved with this stuff deserve blame, civil penalties, and anything else that can be done to prevent this kind of nonsense in the future.

That said, the investor always has the responsibility to understand what they are investing in. I think that the investors, the home buyers, the middle men, and everyone else involved in the scheme are all at fault. Maybe not equally, but they all deserve blame.

By Island Attorney on 2013 01 25, 2:19 am CST

We have seen the idiot, and he is us.

By Helen C. on 2013 01 30, 4:11 pm CST

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