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Faster Than the Speed of Light


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Dec. 15 (Bloomberg) -- Morgan Stanley gave Chief Executive Officer John Mack the biggest bonus for the head of a Wall Street firm, awarding him $40 million as the company headed for the best profit in its 71-year history.

 

Mack, 62, was granted stock valued at $36.2 million as of Dec. 12, and about $4 million in options to buy Morgan Stanley shares, the company said yesterday in a filing with the U.S. Securities and Exchange Commission. The firm also granted more than $57 million in bonuses for seven other top executives.

 

The payout for Mack, 44 percent more than Morgan Stanley awarded him last year, eclipses the $38.3 million in total compensation Henry Paulson received in 2005 as CEO of Goldman Sachs Group Inc. Shares of Morgan Stanley, the second-biggest U.S. securities firm by market value, are having their best year since 2003 after Mack put the firm on course for record earnings.

 

Bloomberg

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Dec. 15, 2007 (Bloomberg) -- 2007 Year in Review.......Capital Stool founder Dr. Stepan N. Stool today officially became the first Trillionaire on the annual Forbe's 400 Richest list after cashing out 10% of his shares in CJRK, the upstart company spawned by members of his popular stock message board to market their automatic shamtrading software.

 

After a demonstration of the software careened out of control, driving the shares from their $1 IPO price up to over $1 Billion per share before the plug was pulled, frantic messages appeared on the board attempting to warn the public that it was just an experiment and the stock actually had no value.

 

Despite those efforts, massive purchases by trend-following hedge funds continued to drive the price higher, topping out at nearly $2 Billion per share last month before profit-taking pulled it down to today's closing price of $1,759,855,314.50

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great work if you can get it........er, get away with it

A maSSter of flipping properties to partners at greatly inflated values

Husani bought the properties at one price, sold them to partners -- often the same day -- at much higher prices, got an appraiser to sign off on the higher values, and then obtained bank loans based on the appraisals. <_<

 

Classic. The guy was convicting of check kiting back in 2002. Then he was convicting of stealing furniture in 2003.

 

Less than two years later, he was to borrow $74M from a handful of different Florida banks for home flipping via mrotgouge fraud. Not only that, he was able to get financing to build a $125M condo tower. No money down. Not one cent.

 

You can't even get a job flipping burgers these days without Burger Queen running a criminal background check on you. Yet you can borrow over $200M with nothing but a nice suit ($1,200 from The Fitting Room in Sarasota).

 

Thank you, Chairman Hu and Mr Fukyu.

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Dec. 15, 2007 (Bloomberg) -- 2007 Year in Review. Stocks traded in the widest range in history this year, and volatility increased to record levels. The Dow Jones Industrial Average traded at a high of 14,500 in February following a spectacular rise precipitated by Black Box Program Trading which use momentum strategies. Seven months later, the index dropped a stunning 40% and printed a low of 8,700 on September 20. The selling fed upon itself as momentum trading firms, which now account for 97% of NYSE volume, sold stocks short. The Federal Open Market Committee held an emergency meeting and announced a 3% cut in the Fed Funds rate and banned short selling of common stocks on all U.S. exchanges. At 2:00 p.m. on September 20, a Thursday during options expiration week, the Dow Jones Industrial Average rallied over 650 points in 2 hours after the Fed announcement, resulting in the largest point gain in stock market history. Over 6 billion shares were traded, an all-time record. "Market volatility is here to stay", quipped Art Cashin of UBS Securities, reporting from the floor of the NYSE, where only 20 specialists were left remaining. "Most of the stock market volume is now transacted in Kansas City, where the trading computers are headquartered".....

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great work if you can get it........er, get away with it

A maSSter of flipping properties to partners at greatly inflated values

Husani bought the properties at one price, sold them to partners -- often the same day -- at much higher prices, got an appraiser to sign off on the higher values, and then obtained bank loans based on the appraisals. <_<

 

Classic. The guy was convicting of check kiting back in 2002. Then he was convicting of stealing furniture in 2003.

 

Less than two years later, he was to borrow $74M from a handful of different Florida banks for home flipping via mrotgouge fraud. Not only that, he was able to get financing to build a $125M condo tower. No money down. Not one cent.

 

You can't even get a job flipping burgers these days without Burger Queen running a criminal background check on you. Yet you can borrow over $200M with nothing but a nice suit ($1,200 from The Fitting Room in Sarasota).

 

Thank you, Chairman Hu and Mr Fukyu.

just another one of thousands upon thousands of people running mrotgouge fraud scams all over the country the last five years

 

vast fortunes made

 

99% will never be prosecuted, and will live out their lives in luxury

 

average schmucks will be stuck holding the bag

 

and working at Burger King

 

anyone :unsure: who didn't git their share of the gravy train is truly a pitiful sad-sack loser

 

left in the dust by sharper and quicker men

 

actually working for a living has become a colossal joke on the maSSes

 

especially the pensionless private-sector middle-claSS, most of whom will die on the job

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Puplava now starting to post "Crash" scenarios again.

 

What about Mc"Huge"??

 

How about Arch Crawford??

 

Hussman: Is he still fully hedged from the summer lows?

 

When is the next Hindenberg Omen coming?

 

What abou the e-woofers over EWI? Noticed that a lot of guys over there left. Folsom, Hochberg, al those guys are gone.

 

Rogue Wave

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