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

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