Morgan Stanley to Washington: It Doesn’t Feel So Good to Be Reviled, Does It?


After years of deriding Wall Street in public, but courting its donations with “light to nonexistent” regulations in private, Washington has eclipsed Wall Street as the public’s whipping boy. And Morgan Stanley, for one, is smirking. The firm, one of the many financial groups that declined to take advantage of expanded finance rules to donate, issued a companywide memo Wednesday, citing the “unmistakable certitude” of “anti-Washington” sentiment among voters. DealBook thinks if you read between the lines, what Morgan Stanley’s really trying to say with lines like, “This watershed election heralds a return to a divided government where Democrats and Republicans will be forced to deal first with each other if they are indeed going to deal with America’s problems” is, “How do you like them apples?”

Wall Street Schadenfreude [DealBook/NYT]