The firm claims not to have European exposure, but it does, and it has taken great pains to assure analysts, leak earnings sentiments both of itself and others. Why? Guilt? Complicity? All I can say is that the jails will be filling up fast at the rate these firms are failing.
MS does a great job with creating impressions of stability, but the share price and lack of seasoned brokerage/bank management tell a different story. If Jefferies can fail, then so too can Morgan Stanley. I doubt we have long to wait since their non exposure to Europe is a game. Good luck when that stock gets halted. I hope Quantas has an extra seat in Economy Class. All I can say.