Wednesday, October 5, 2011
Guest Post: Dear James Gorman (CEO of Morgan Stanley),
"I am writing you because, I think you are lying. In a memo to your employees you wrote:
"Over the past few weeks, there has been an enormous amount of confusion and misinformation about Morgan Stanley and others in our peer group. In fragile markets, where fear triumphs over common sense, these things are bound to happen. It is easy to try to respond to the rumor of the day, but that is not usually productive. Instead we should let balanced third parties do their own analysis and let the facts speak.
To help you wade through the maze of numbers and information, it might be worth reading two analyst reports that were published this morning. One is from Howard Chen at Credit Suisse that examines Capital, Funding and Liquidity at Morgan Stanley and Goldman Sachs and, in some detail, highlights the dramatic improvement to our financial strength over the last three years. The other is from Matthew Burnell at Wells Fargo, who writes about Eurozone and Derivative exposure for the sector and plainly underscores that our exposure to the Eurozone and France in particular is not a concern.
I encourage you to stay focused on your job, remember that we are a client-focused Firm and do what you need to do to help our clients navigate this turbulence. It is in times like these when our professionalism, market wisdom and client focus are truly valued."
If you truly gave a shit, and were not a coward, please come out on national television or have an interview with Maria Barfaromo and tell your employees, share holders and board of directors that everything is fine. I am begging you. Stop hiding behind the Lehman computer screen doors and make your presence on camera so I as a shareholder can stop shitting my pants. You have done NOTHING other then condemning Zerohedge and other 'anonymous' truth-seeking blogs. Swear on your mothers grave on live TV and stop the selling, or you, Wall Street, and the entire future financial collapse will be on your head, not mine. And this time, we will come looking for our money one way or another."
I gotta love receiving these emails. It gives me that funny cozy feeling inside.