Morgan Stanley Chief: ‘There Is No Rational Basis for the Movements in Our Stock’

You know what we also resent about him? That
alabaster skin. And that full head of hair! And those
eyes, oh God, those limpid, slightly sad pools of
sensitivity. Yeah, we hate those.
Photo: Getty Images

In a memo to employees, Morgan Stanley CEO John Mack blames short-sellers for the slide of the company's stock today: "I know all of you are watching our stock price today, and so am I. After the strong earnings and $179 billion in liquidity we announced yesterday — which virtually every equity analyst highlighted in their notes this morning — there is no rational basis for the movements in our stock or credit default spreads .... What’s happening out there? It’s very clear to me — we’re in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down." [WSJ]

Earlier: Morgan Stanley Releases Earnings