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February 14, 2014

Ex-Morgan Stanley Chief Jams Foot in Mouth, Complains of CEO Abuse

“There’s a ton of interesting stuff going on in the Wall Street sphere of late – I’m trying to find some time to do a proper write-up of the extraordinary lawsuit just filed by the Better Markets advocacy group against Eric Holder’s Justice Department, seeking to invalidate the $13 billion JP Morgan Chase settlement – but one particular thing happened this week that just can’t go by without comment.”

“John Mack, the former CEO of Morgan Stanley and one of the more irritatingly unrepentant dickheads of the crisis era, gave an incredible interview to Bloomberg TVIn a discussion about executive pay, Mack said we’re all being too rough on his fellow too-big-to-fail bank CEOs.”

“He would love, he said, “to see people stop beating up on Lloyd and Jamie,” endearingly referring to Goldman chief Lloyd Blankfein and Chase chief Jamie Dimon by their first names (Mack must be in a bowling league with both men). He added: “I think that would make a lot of sense, and I’m in favor of that.”

 
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Read full Rolling Stone article here.

 

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