How John Mack defied history for his shareholders
There is a nice footnote to history in the revelation that the US government tried to force Morgan Stanley to sell itself for $1 a share to JP Morgan Chase at the height of the financial crisis last year.
Had the takeover gone through, it would not only have been a humiliating end to the career of John Mack, Morgan Stanley’s chairman and chief executive, but would also have reversed the enforced break-up of J.P. Morgan by the US government following the 1929 crash. Read more
Clearing up the future of futures
My column this week in the FT is on OTC derivatives: Read more
| About this blog | Blog guide |
John Gapper is an associate editor and the chief business commentator of the FT.
He has worked for the FT since 1987, covering labour relations, banking and the media. He is co-author, with Nicholas Denton, of 'All That Glitters', an account of the collapse of Barings in 1995.
Andrew Hill is an associate editor and the management editor of the FT. He is a former City editor, financial editor, comment and analysis editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan.
Latest columns by John and Andrew