Morgan Stanley Sold 'Nuclear' Investments, Cashed In - YouTube
"It's becoming depressingly familiar: Bankers joke openly in emails about a toxic investment they're creating. Bankers sell said toxic investment to clients while betting against it. Everybody loses money, nobody goes to jail. Rinse, repeat, crash the economy.
The latest round of emails was produced in a lawsuit by a Chinese bank suing Morgan Stanley over a $500 million subprime-mortgage collateralized debt obligation the bank created and marketed as "Stack 2006-1." ProPublica's Jesse Eisinger writes that documents in the case show Morgan Stanley bankers had very different ideas about what it should be called."*
Morgan Stanley had information on the house of cards that was the housing market before it crashed. So what did they do? Obviously dump bad investments to sucker clients and cash in on their misfortune!
