Morgan

Like Morgan (his patient), many start to see more fat around the belly or at the backs of the arms.

That means J. P. Morgan is a stronger company than it was just a few years ago.

She told him Lehman would have to turn over the $5 billion in collateral that J. P. Morgan had asked for days earlier.

Morgan Stanley borrowed more, as its chief, John Mack, was complaining that the bank was target of speculators betting it would fail.

Though Morgan had a large sense of public duty, he had not shouldered the falling church out of pure altruism.

Stephen Roach, Morgan Stanley's Asia chairman, agreed it would be "a long slog" over the next three years.

US banks including Morgan Stanley, JPMorgan and Citigroup are trying to strike deals with local partners that are amenable to Beijing.

He couldn't believe that they'd been arguing about a swimsuit all day, since the moment Morgan walked in an announced his pool party.

Bear Stearns's "shotgun marriage" to J. P. Morgan "is not the sort of thing we set out to do, " he told the audience.

Morgan Spurlock, said the reasons for the increase in obesity worldwide, is one of the U. S. fast-food culture output.

Mr Morgan, whose company runs three London Underground lines, said: "The only privilege I have is the best view. "

Between them they are expected to invest at least $50bn in international capital markets during the next two years, JP Morgan estimates.

Morgan Stanley's bottom line would also be eviscerated, with 40% of its investment banking revenue impacted by a strong Volcker Rule.

On Monday, an MUFG spokesman said the company wishes to partner with Morgan Stanley across a wide range of investing activities.

Morgan said he met a venture capitalist in the elevator at a conference who invited him to submit a business plan.

A person familiar with the matter said MF Global still hasn't had a full accounting of its holdings at J. P. Morgan.

But it has instead emerged, along with Morgan Stanley, in the last pair of large investment banks standing.

"The trend [for crude oil] seems to be down at this point, " says John Wilson, chief technical strategist at Morgan Keegan.

Bill Winters, J. P. Morgan's former co-head of investment banking, once said the bank's shares would fall 20% if Dimon left.

"In essence there was no specific approval given [by Morgan Stanley], " he said.

"Oh good one, really Morgan, that hurt, " He replied sarcastically, rolling his eyes and faking a punch to his gut.

When trading opportunities picked up in the second quarter, Goldman Sachs took advantage and Morgan Stanley did not.

Joe (Morgan Freeman) lives in a retirement home and seems to have adjusted relatively well.

Thank you for saying so. By the way , how is Mr. Morgan? I haven't seen him for quite a while.

Ric Morgan was in a receiving line at a fancy dinner honoring him for his nonprofit work.

Morgan Stanley Huaxin Fund, said the company in 2009 will focus on new materials, new energy equipment and many other growth industries.

Morgan: Look, we need as close to the real voice as you can get, and anything that might be in the background.

There seems to be a bit of a debate going on between economists Stephen Roach, from Morgan Stanley, and Nobel Laureate Paul Krugman.

Although the firms condemn the rumour-mongering, stories that Morgan Stanley was looking for a partner continued to swirl.

morgan: . I felt this fear and anxiety washing over me. I looked around, and I thought, how can we raise a child surrounded by all this?

When Nelson Mandela was asked 15 years ago who should play him in a film version of his life, his reply was instant: Morgan Freeman.

G. Campbell Morgan put it this way: "Unbelief is an act of the will, while doubt is born out of a troubled mind and a broken heart. "

But people familiar with the matter said that the Bear acquisition doesn't preclude J. P. Morgan from pursuing that strategy.

Morgan Stanley's board had a limited number of internal names, and yet interviewed no external candidates.

Morgan's stock price has outperformed that of rival Goldman Sachs since the beginning of the year.

Several of Morgan Stanley's hedge fund clientele said they were likely to return to the bank once markets stabilises.

Union Admiral David Farragut shouted this famous line in a brave moment of the Civil War on his way to Fort Morgan, Alabama.

He liked the sound of it so much that he read the screenplay and made extensive notes, which Mr. Morgan immediately addressed in a revision.

Folding Morgan Stanley or Goldman into a large commercial bank could make for a safer company, but a less nimble one.

All that means Morgan is prepared to repay TARP as soon as U. S. regulators allow, he said, and can go back on offense when markets improve.

Morgan did manage to get a few of his men over the wall and in to the city, something which no other American achieved.

He said he has no problem working for a nongovernmental organization.

A trader at a rival firm said the Morgan Stanley trader had been involved in short-term trading over credit index options on the CDX index.

"We wouldn't be surprised to see this third quarter GDP number revised up a bit, " said Melanie Baker at Morgan Stanley.

It seems to me that Goldman and Morgan Stanley have two options.

Morgan said he had spoken to Boyle and did not think she had suffered a breakdown.

J. P. Morgan Chief Executive Officer James Dimon has made it a priority to increase the bank's global reach.

It is not clear how much money Huawei could raise from a sale of a stake in the division, which is being arranged by Morgan Stanley.

Remember in The Dark Knight when Batman used Gotham's cellphones to try to track the Joker, and Morgan Freeman got really pissed off at him?

In June, when CIC bought more Morgan Stanley shares, it said the deal 'further strengthened' ties in a relationship it called 'excellent. '

Morgan Stanley said on Wednesday that it is in a year of transition. What that means for the company and John Mack is not clear.

In the second season finale, Stefan ( Paul Wesley) agreed to leave town with Klaus ( Joseph Morgan) in an attempt to save Damon's life.

Morgan Stanley officials were not in merger talks as of late Tuesday, CNBC said, citing unnamed people close to the matter.

Morgan: You know, people have been wondering about how the universe began probably since the caveman, right.

Morgan Stanley now is trying to redefine itself as a firm that advises investors and companies, taking fewer risks on its own balance sheet.

For a brief time Friday, it seemed as if MF Global might have uncovered the funds at J. P. Morgan, which housed the firm's client balances.

"Korean yards seem to be losing out to Chinese yards in order-taking this year, " Morgan Stanley said in a recent report.

Citigroup and Morgan Stanley are headquartered in midtown -- far from the dark downtown tunnels of the financial district.

Now, Mrs. Morgan, " said the director to one young married woman who was to take the part of Pearl , " you sit here.

Morgan Stanley is pushing ahead with a return to the business, hoping to raise up to $5 billion in a buy-out fund.

People with direct knowledge of the matter said first-round bids for Morgan Stanley's stake are due on Tuesday.

When I left Morgan Stanley, David told me to make it count because you could only leave a firm that reputable once.

"If you look at the potential, Iraq can be the next Egypt in terms of tourism and cultural heritage development, " the GHF's Morgan said.

It was no different with the wonderful film, The Bucket List, starring those icons of inspiration, Jack Nicholson and Morgan Freeman.

In July 2007, the bank won approval to set up the first locally incorporated foreign bank in Beijing, JP Morgan Chase Bank (China).

There would be very little switching costs for Goldman and Morgan to go back to being broker dealers.

Morgan Stanley's Wang said he expects the weakening of the Chinese currency against the dollar to be temporary.

Morgan retired peacefully and died in 1688, just as the golden of age piracy had begun to sunset.

The comments were "offensive, highly unprofessional and do not reflect industry practices, " Morgan Stanley said in an e- mailed statement.

However, this principle was too broad to be taken literally, and the Court soon began to cut back on the Morgan I decision.

If only a modicum of calm returned to markets, Morgan Stanley and Goldman Sachs should be able to survive.

Robert Feldman, economist at Morgan Stanley, said Mr Abe was more committed to a market-oriented view of the economy than people realised.

Morgan Stanley is the only one of the five biggest US investment banks to report a rise in fixed-income revenue from the first quarter.

Stephen Roach, Asia chairman for Morgan Stanley, said the figures showed the recovery was intact but heavily dependent on investment.

"Soaring grain prices have brought food inflation back to centre stage, " said Joachim Fels of Morgan Stanley in London.

Rival investment banks are exploiting the upheaval at Morgan Stanley by trying to poach staff and clients.

But for now you can follow in the footsteps of Morgan Freeman, who walked through the market in the latest Batman movie "The Dark Knight" .

When Morgan visits classrooms to talk about her experiences as an astronaut, the kids ask plenty of questions.

Morgan Stanley struggled for years to exit its JV with China International Capital Corp after falling out with the local management.

Cerberus owns Chrysler, while J. P. Morgan is one of the largest holders of Chrysler bank debt and a key lender for GM.

Morgan Stanley suspended Mr Du on May 22 2007, pending an internal investigation, and he left the company less than a month later.

At the time, Mr Du was part of a Morgan Stanley team that advised Citic Resources on the transaction and a related bond offer.

JP Morgan lose more money in just a few weeks than China spent on entire manned space program.

"When you go into the hut, it feels as if the explorers have only just walked out, " the Antarctic Heritage Trust's Morgan said.

Morgan Stanley's Global Monetary Analyst report is now seeing possible stagflation around the globe in a manner similar to the 1970s.

The team is made up of executives from his days at Citigroup as well as a cadre of J. P. Morgan executives nurtured by Dimon and outsiders.

J. P. Morgan chief economist Bruce Kasman puts the chances of a recession in either the U. S. or globally at less than 15%.

At least investors will doubt its existence : whether to conduct the purchase Morgan Stanley Group manufacturing decimating profits?

Steve has been a tremendous asset to Morgan Stanley and is a world renowned influential thought leader.

Mr. Gorman of Morgan Stanley said, "I would hope retail investors don't pile into the market at this point, but step in cautiously. "

AIG was considered a weighty and utterly reliable market player, and like JP Morgan, it basked in the sun of a triple-A credit rating.

"What if the child is going through a divorce or bankruptcy? " asks Ms Morgan.

Integrating Morgan Stanley Smith Barney is still one of the biggest challenges facing the firm, analysts said.

Margaret Morgan-Hubbard started Eco City Farms. She thinks of it as a place where people can learn to live healthier lives.

Gavin MacDonald, European head of M& A at Morgan Stanley said the outlook for corporate deals still looked positive.

( Morgan ) During his 30 days, Ryan must live with a gay man, and immerse himself in the homosexual culture.

Other banks, including Morgan Stanley and Washington Mutual, looked as if they would suffer the same fate.

So far, Morgan Stanley estimates that about $123bn of these defaulted CDOs have been liquidated.

Goldman -- and to a lesser extent, Morgan Stanley -- has maneuvered through the credit crisis better than other investment banks.

Any firm the size of J. P. Morgan is too unwieldy for any one man to run on his own.

The company has since been trying to repay investors in its $100 million convertible bond, which was handled by J. P. Morgan Chase in 2006.

"The figures are considerably better than expected, and that's across the board, " said Elga Bartsch, economist at Morgan Stanley.

"Neither side at this point has a clear fiscal reform strategy, " said Robert Feldman, chief economist at Morgan Stanley in Tokyo.

Morgan Stanley has already said it plans to double the number of its private bankers in the region in the next three years.

"Despite the dark policy backdrop, not all is bad, " said Joachim Fels, head of global economics at Morgan Stanley.

Of these, Morgan Stanley has the least cause for worry, since its swaps already sit in a non-bank subsidiary (see chart).

With this uncertainty looming, Morgan Stanley and Goldman might decide selling out to a bigger bank is better for shareholders.

That had been a key reason for its $9 billion investment in Morgan Stanley last fall.

I saw Dr. Morgan sitting at the kitchen table. He was a neighbor of my grandparents' age, long since retired.

Morgan Stanley is finally close to getting out of that deal so it can try entering a new one where it might exercise more influence.

Morgan Stanley has already made a healthy return on its $35m initial investment, at least tripling its money.

Amanda wants to work for the company J. P. Morgan because there's a lot of money in investment banking.

'Inflation expectations are creeping up, ' said Spyros Andreopoulos, global economist at Morgan Stanley in London.

Ms Morgan anticipates recruitment will be lower in finance this year, although there has been a hiring spike in private wealth management.

Dozens of new managers have been brought in, some of them old colleagues of Mr Pandit's from his days at Morgan Stanley.

P. Morgan. The bank also is talking tough with clients and taking market share and top performers from competitors.

Mr Pandit's closest lieutenants have all come from Morgan Stanley, his own former employer, or other outside companies.

Morgan was born in Wales in 1635, but his ambition took him to Jamaica as a young man to seek fame and fortune.

JP Morgan Japan estimates corporate profits have fallen approximately 5% in the last six weeks as the U. S. dollar has plummeted.

Traditionally, Bear Stearns, Goldman Sachs and Morgan Stanley have had the dominant prime brokerage units both in the US and overseas.

Of course, the Morgan Stanley analysts could wind up to be too optimistic.

Industrialist and financier J. P. Morgan believed the strike could threaten his businesses and made a deal with the union.

Tommy told me to watch the position, which effectively meant that I had my first -- albeit meager -- trading position at Morgan Stanley.

The reason, it says, is that Gucci was one of Morgan's best investment-banking clients, so making LVMH look bad was good for Gucci.

The move would be 'a milestone for the global economy, ' says Bruce Kasman, chief economist at J. P. Morgan Chase & Co. in New York.

In 1907, J. P. Morgan was first viewed as the savior of the market, and then as the enemy of the commonweal.

If the cost of the protection rises to a certain level that would trigger a scaling back of Morgan Stanely commitments to hedge funds.

Ay, ay, ' returned Morgan, 'I mind him; he owed me money, he did, and took my knife ashore with him. '

Morgan Stanley pays bonuses in cash, but places the cash in a restricted account where it can't be used for a certain number of years.

Morgan Stanley CEO James Gorman will do an about-face on the bank's 'lower risk' corporate nike jordan shoes strategy.

There is at least one other new investor along with T. Rowe Price, Fidelity and Morgan Stanley, said this person. .

CIC's investment can be converted into a 9. 9% stake to Morgan Stanley in a few years.

The investment in Morgan Stanley, done at a time of stress, was far more opportunistic than the Blackstone deal.

Morgan, Arthur's half sister and a powerful sorceress, usually appears in legend as an enemy of the Round Table.

When JP Morgan had offered the first Bistro deals in late 1997, it had access to extensive data about all the loans it had pooled together.

In late April, JP Morgan invited me to a "thought leaders dinner" to discuss the latest goings on in Silicon Valley and digital media.

"The new machine will definitely increase production efficiencies as the company targets a high output, " said Morgan.

Goldman Sachs and Morgan Stanley, the only remaining independent investment banks, changed their status to become ordinary commercial banks.

The surrender of Fort Morgan was an important victory for the North. The South had used the fort to ship and receive supplies.

Morgan Stanley's share price recovered somewhat after fears about the bank's exposure to Europe unnerved investors.

He said it was unlikely that CIC would pull out of institutions such as Morgan Stanley and Blackstone because it would lose too much money.

As Stephen Jen, an economist at Morgan Stanley, points out, in a crisis "bad things happen to good countries" .

Elsewhere, J. P. Morgan is taking issue with portions of the White House's financial plan that deals with the regulation of derivatives.

Morgan Tsvangirai, prime minister of Zimbabwe, insists that he is now able to joke with his long-time opponent, President Robert Mugabe.

More recently Morgan Stanley promised so much pay in its latest quarter that it almost made an underlying loss.

"The parties have resolved the dispute between them to their mutual satisfaction, " said Morgan Stanley.

" asks Angie Morgan, co-author of " Leading From the Front: No-Excuse Leadership Tactics for Women.

"Broker-dealers were very reliant on short-dated funding, " said Jan Loeys, head of global asset allocation at JP Morgan in London.

"You think nothing's real until you've filmed it, " says his angrygirlfriend Debra (Michelle Morgan), more than once.

Morgan Stanley has estimated peak annual sales for MAP0004 of around $250 million and said UDB could see sales of $500 million a year.

"Incentivising children to achieve certain goals is an imposition of the parents' values on the child, " says Ms Morgan.

But like the Blackstone deal, the investment in Morgan Stanley would almost certainly have required State Council approval.

Morgan Stanley said it did not foresee any political or regulatory concerns about the investment.

'What the region really needs is a one-off fiscal transfer, ' says David Mackie, economist at J. P. Morgan in London.

Significantly, Morgan Stanley chose to bet against its own product, and by extension against the customers to whom it was selling it.

Banks like Goldman Sachs (GS) or Morgan Stanley (MS) do not raise funds through deposits but instead sell securities to private investors.

China's sovereign-wealth fund has lost plenty of money on its year-old Blackstone stake and on its investment in Morgan Stanley.

J. P. Morgan Chase & Co. is close to such an agreement with a Chinese company.

If it falls to parity against the dollar, Morgan Stanley estimates it would knock 4 percentage points from H&M's gross margin.

Morgan Stanley declined to discuss whether it was seeing any new interest from clients as a result of the charges facing Goldman.

A large number of the proposed SEZs are tiny: out of the total of 267, Morgan Stanley has calculated that 133 are less than 1 sq km in size.

But people familiar with the situation say he soon fell out with senior partners at Morgan Stanley.

"We've never had a winter like this, " says McGovern, who has two daughters, Morgan, 11, and Devon, 7, and a son, Garrett, 3.

If Morgan Stanley issues stock in a new company, it charges the company a commission of around seven per cent.

There was no central bank, so Morgan effectively became one.

Morgan Stanley CEO James Gorman will do an about-face on the bank's 'lower risk' corporate strategy.

"It was an important deal for Morgan Stanley given the nature of the client, " said Mr Jayaram.

Morgan was in the "Daily Mail" in 2006, a report said he heard McCartney to Mills's phone messages.

Wang worked as a vice president in Morgan Stanley's finance department and Chen was a vice president at ING Investment Management Americas.

Although the cables do not mention if Geithner took any action, China's deal to buy Morgan Stanley shares was announced the very next day.

Morgan heads the global league table for announced mergers and acquisitions this year and is in the top two in equities.

I walked from the office, took the elevator downstairs, exited Morgan Stanley's offices and turned the corner.

Sandra Sugar has been coming to Morgan's for years. "This has nostalgia just coming in here, " she said.

Funny how that didn't apply to Bear Stearns, which the Feds at least sold for a couple of bucks to JP Morgan.

The American Film Institute will honor Morgan Freeman with its 39th Life Achievement Award, the organization announced Monday.

"There was always the chance they may not find the other huts or reach them, " Antarctic Heritage Trust's Morgan said.

In the past, one of JP Morgan's longstanding blue-chip clients had been the mighty insurance company American International Group.

But Jerry Lou, equity strategist at Morgan Stanley, was more pessimistic.

Self-evidently, JP Morgan was not constrained by the concept of moral hazard.

Earlier Tuesday, Morgan Stanley issued a note declaring the rally in stocks done, at least for now.

In the first quarter, Morgan Stanley's overall compensation and benefits fell about 45% from a year earlier.

Yet Mr Zhu has undeniably built a business and made money for his shareholders, including Morgan Stanley.

When most of the crew was on leave from the ship, Morgan ran off with all of the plunder from Panama.

Management's demands did not bode well for Morgan Stanley's efforts to shed CICC.

Morgan himself was on vacation across the Atlantic, but his son Junius was injured, and Morgan's chief clerk, Thomas Joyce, was killed.

Mark says: I am going to pick Adam Morgan because he reminds me a lot of Robbie Fowler when he was at Liverpool.

Citigroup and Bank of America (BofA) posted thumping quarterly losses. Morgan Stanley eked out a modest gain.

The head of his finance committee is William Strong, the vice chairman of Morgan Stanley in Chicago. But Mr.

Credit Suisse and J. P. Morgan still say the region stands out as the fastest growing globally in terms of assets.

As a whole, its 'fiscal arithmetic looks good, ' as economists at J. P. Morgan Chase put it in a recent note.

Morgan Stanley's hopes of raising $1bn for its stake appeared to be dashed.

It approached several firms, including BofA and Morgan Stanley, but only BofA felt able to conduct the necessary due diligence in time.

Morgan Stanley helped design the deals and bet against them, but did not market them to clients, according to the paper.

He gave even more optimistic estimates for J. P. Morgan, with loan loss provisions falling 8% and net charge-offs down 3%.

Analysts at Morgan Stanley are so upbeat that they expect a secular boom in emerging market property over the next 10 years.

The only other thing worth mentioning is that Max uncovers the video tape that misleads you into thinking that Morgan is here to help you.

Morgan Stanley, which is selling the shares on behalf of the government, did not respond to a request for comment.

Farm program payments are often cited as a contributing factor in the conversion of grassland for crop production (Morgan).

Grace Chen, analyst at Morgan Stanley, estimates the deal should lift Lenovo's PC shipments by 6 per cent a year.

The company says there are now plenty of potential investors and Morgan Stanley has agreed to take a 10 per cent stake in the project.

Morgan house is one of the oldest and most influential families in American economic history.

So far this year, the Wall Street bank that has most accurately forecast prices is J. P. Morgan, based on data collected in Reuters polls.

The grim findings come in a report by Morgan Stanley, the US investment bank, and Oliver Wyman, the financial services consultancy.

Within a few weeks some $40 billion was poured into distressed Western lenders, among them Citigroup, UBS, Morgan Stanley and Merrill Lynch.

In fact, too much has been made of China's under-consumption, economists at Morgan Stanley argued in a research note last week.

Yiwu market is called the "world's biggest wholesale market of commodities" by the United Nations, the World Bank and Morgan Stanley.

JP Morgan economist Bruce Kasman warned that the signs were pointing increasingly "to a deep and synchronised global recession" .

CEO Jamie Dimon, who's been hailed as one of the banking industry's top leaders, called J. P. Morgan's annual results 'mediocre'.

Morgan: Well, see my code of survival says never mess with a woman who carries a gun.

"Google finally has what it needs to catalog the DNA of every organism on Earth, " said analyst Imran Kahn of J. P. Morgan Chase.

I'm thrilled for everyone connected to the show, but I'm especially excited for Jane [Krakowski], Jack [McBrayer] and Tracy [Morgan].

Morgan Stanley closed most of its prop trading units after experiencing heavy losses as a result of the mortgage meltdown in 2008.

Mr Morgan married an English woman and took up his residence in London.

Morgan Keegan analyst Art Hatfield estimates FedEx spent about $570. 8 million on fuel, compared with more than $1 billion a year earlier.

When Morgan was an officer in the Marine Corps deployed in Australia, she made some mistakes.

You'd think the last thing Goldman Sachs and Morgan Stanley would choose to be called is a bank.

Sale of its CICC stake for about $1bn will produce a healthy profit on the initial investment of $37m Morgan Stanley made 15 years ago.

Stephen Roach, chairman of Morgan Stanley Asia, argues that the region's shift to better balanced growth is far from complete.

Greece 'is a shot across the bow, ' says Henry McVey, head of global macro and asset allocation at Morgan Stanley Investment Management.

As filmmaker Morgan Spurlock points out, it's every kid's dream: Eat nothing but McDonald's for 30 days.

In the first quarter, net profit at Chinese listed firms fell 26% from a year before, J. P. Morgan says.

Morgan Stanley ceased to be a stand-alone investment bank in 1997 when it merged with the consumer finance company Dean Witter.

Morgan Stanley (MS) has a great global investment-banking franchise and the largest retail brokerage force in the U. S.

J. P. Morgan Chase & Co. is raising its bets on high-technology credit cards aimed at cutting down on fraud.

Morgan was the main attraction , the conspicuous personality here .

Recently Morgan Stanley economists presented three keys to sustained recovery, and none of them relied on the consumer.

Chinese banks are "a good place to be, " Emerson Yip, Greater China fund manager at JP Morgan said on CNBC.

He said that JP Morgan would invest more than $100m in building the corporate bank, which would have 300 bankers.

According to fellow philosopher C. Lloyd Morgan, the concept of emergence signaled a different variety of causation.

"The risk of a disorderly correction in the dollar is growing, " Stephen Roach, chairman of Morgan Stanley Asia told the conference.

Morgan Stanley said in a report that the iron ore market was under "unprecedented" pricing developments.

He was ousted a few weeks before the U. S. government sold Washington Mutual's banking operations to J. P. Morgan in September 2008.

Obama is aging fast enough for Morgan Freeman to play him in a movie.

Morgan Stanley wanted to bet on casinos, but its exposure deepened when Revel wasn't able to line up financing.

( Morgan ) it's day two, and Ryan starts his first full day living in the heart of gay San Francisco.

Within a few months, according to Morgan Stanley, an investment bank, China will have more internet users than America, the current leader.

The New York Times says the Federal Reserve is reluctant to help finance J. P. Morgan's higher bid for Bear Stearns.

Lead researcher Lloyd Morgan said there could be a 'brain tumour pandemic' unless people changed their patterns of mobile phone use.

Morgan Stanley put about $500 million of its own money into the fund but wasn't part of the vote.

Associates at Morgan Stanley earned trophies, or "deal toys, " whenever they completed a deal, like say on an airplane company merger.

"The money supply is too large, " said Andy Xie, an economist based in Shanghai who formerly worked at Morgan Stanley.

Morgan Stanley and Citigroup each inked an agreement with a mainland partner, although neither has yet secured approval.

The Monroe film had been stored in an attic for three years before Morgan tracked it down.

The move shows Morgan Stanley and other Wall Street firms acknowledge compensation was part of the problem that led to the financial crisis.

Goldman Sachs ranked as the top M& A adviser globally, in Europe and in Asia, while Morgan Stanley took pole position in the US.

But the door isn't completely shut, especially if Morgan Stanley stock continues to slide.

Michael Feroli, an economist at JP Morgan, said: "It is almost like the socialisation of housing finance. "

Goldman Sachs, Morgan Stanley and Bear Stearns are widely acknowledged to have the largest prime brokerage businesses.

Wang Qing, of Morgan Stanley, said headline inflation had already peaked even though April figures were above market expectations.

Morgan Stanley points to its involvement in a string of mainland deals this year.