Morgan Stanley's Mack apologizes for financial crisis-donating bonus to charity

Discussion in 'Wall St. News' started by Port1385, Feb 11, 2009.

  1. Lots of really good John Mack stuff here. And it's not over.

    A tidbit:

    One series of trades, which made Pequot $18 million, came just ahead of the announcement in 2001 by the General Electric Capital Corporation that it would buy Heller Financial. Advisers on the deal were Credit Suisse, a firm that was wooing Mr. Mack to be its chief executive at the time, and Morgan Stanley.

    But after Mr. Aguirre’s investigation was under way, the report said, lawyers for both Mr. Samberg and Morgan Stanley’s board, which was then considering hiring Mr. Mack as chief executive, received access to high-level S.E.C. enforcement officials — outside the presence of Mr. Aguirre, who was leading the Pequot inquiry. After these contacts, the scope of the Pequot investigation narrowed and Mr. Aguirre was barred from interviewing Mr. Mack.

    When Mr. Aguirre complained, the S.E.C. retaliated by firing him, Senate investigators concluded.