major balls.
CEO James Gorman engineers a ripoff of his clients, getting them into facebook at 38 - 45 bucks per share. Blows up the size of the offering to basically flood the market & guarantee the stock would sink like a pig. Meanwhile morgan stanley is short the stock by overselling the issue, & takes profits as their clients bail out of the stock at discount prices.
I once thought capitalism worked by providing value to clients, not robbing them blind.
http://marketday.msnbc.msn.com/_news...ere-naive?lite
