John Mack Is Totally Doing the Victory Dance Right Now

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It's not yet noon, but you know who's already well into the Cristal on this fine Columbus Day morning? Morgan Stanley CEO John Mack, that's who. Faced with snowballing rumors about the firm's capitalization and collapsing stock, Mack managed to get Mitsubishi to close on its $9 billion equity investment in the firm on National Health Day — a day earlier than expected, and on exceedingly good terms. He couldn't resist writing some self-congratulation into the press release:

The MUFG investment further bolsters Morgan Stanley's already strong capital position. Morgan Stanley's Tier 1 Capital Ratio is now estimated to be more than 15.5 percent on a pro-forma basis as of August 31, 2008. This is far in excess of the 6 percent required by the Federal Reserve to be treated as well-capitalized and is one of the highest Tier 1 Capital Ratios among bank holding companies peers.


In other words, all y'all haters can suck it, because the Mack is back.

Mitsubishi UFJ Financial Group Closes $9 Billion Equity Investment in Morgan Stanley as Part of Global Strategic Alliance [Deal Journal/WSJ]
Earlier: Morgan Stanley CEO John Mack's Very Bad Day
John Mack's Big Night