Morgan Stanley

“Mitsubishi UFJ actually agreed to send them nine billion dollars, but since the money was needed urgently and banks were closed in the US and Japan, they actually had to write a nine billion dollar physical check and hand it in person to Morgan Stanley executi…”

“So in 2008, Morgan Stanley needed an injection of capital to help prevent them from collapsing. So Mitsubishi U of J agreed to send this money, and they sent nine billion dollars, but it was a banking holiday in the US and Japan, and so they weren't actually a…”

“So, 10 years ago, everyone would look at Fidelity and Morgan Stanley, and those were the prototypes for the data center. And it was, guess what? It was EMC storage, an Oracle database, a Sun Microsystems server, and a Cisco switch. And the entire world copied …”

“This is now widespread outside of financial services. You know, Goldman Sachs, Morgan Stanley always had quant jocks. Now everybody has quant jocks.”

“They bought E-Trade, but the Morgan Stanley site doesn't interoperate with the E-Trade site. It's just, it's so comically bad.”

“But we sold it for fourteen billion of cash, and two or three years later Morgan Stanley sold for eight.”