Feb
8
Isn’t Looking Back Fun?
In prep for my new job, I’m reading up on the Star-Ledger’s more recent real estate coverage.
Loved this May 4 article by Sam Ali. You know, before the financial markets came acrumblin down in September. A sampling:
Many of Wall Street’s best and brightest are now proclaiming the worst of the credit storm may have passed. Their comments have come even as many Wall Street firms have announced eye-popping billion-dollar losses on subprime mortgage investments.
One of the more bullish comments came last month from Morgan Stanley Chief Executive John Mack, who assured investors the subprime problem was “in the eighth inning or maybe the top of the ninth.”
But even some of his own employees don’t seem to agree.
In a research note April 28, Morgan Stanley analysts Betsy Graseck, Cheryl Pate and Justin Kwong said they think the credit markets are only in the “third inning” of the crisis.
