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Eyebrows Are Raised Over Morgan Stanley

Morgan Stanley CEO John Mack grapples with plummeting profits and a rogue trader, a summer associate messes with the wrong guy at the company picnic, and Rachael Ray buys in the Hamptons, in our daily roundup of finance, law, media, and real-estate news.

Kristin Davis Is Not a Slut, Okay?

Kristin
Kristin Davis got annoyed that Evan Handler's wife jokingly referred to her as a "slut" when Handler had to film sex scenes with Davis on Sex and the City. Real-estate developer and Observer owner Jared Kushner recently replaced his dinner table with a Ping-Pong table and says more people come visit him now. Carly Simon says she never slept with Mick Jagger, but Bianca Jagger doesn't believe her. Folk legend Pete Seeger is still annoyed that his protégé Bob Dylan switched to electric guitar back in 1965. Gwen Stefani says that she thinks celebrity gossip is gross, but she's addicted.