…no surprise there
High probability that JPM will take over them
DJ Morgan Stanley Mulls Merger With Wachovia - NY Times DOW JONES NEWSWIRES Morgan Stanley -MS- is considering a merger with Wachovia Corp. -WB-, The New York Times reported on its Web site Wednesday, citing people briefed on the talks. The discussions are still preliminary and may fail to yield a deal. Wachovia called Morgan Stanley Chief Executive John Mack on Wednesday to express interest. Other banks have also expressed interest, and the Times said Morgan Stanley is considering other options as well
It’ll be interesting how this turns out (I’m a Seattle guy). Most people I know have already jumped ship. The funny thing, I worked in the sub-prime department in 2002, did default risk analysis on 15B in subprime junk…the amusing thing is we low-level grunts would go on break and talk about how all this was gonna happen when the environment shifted. Dumb asses. But nobody wants to hear that when they are making sick profits on those nasty loan pools. My PM made sure the corporate risk analysts (that kept breathing down our neck “hey what is that rotting smell coming from your dept”) heard nothing but good news out of our area. I could go on and on, sorry but that place was a joke.
yeah - so how do you apply regulation to that type of behavior - it is not all rating agencies (not that I dont think they havd a big part to play) … a lot of smart people heah?
Maybe CFA can expand the corporate governance section with new examples. I could help them out with some great stories… 
good recommendation … haha …go for it purealpha