Daily Archives: October 1, 2009

John Gapper

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. 

John Gapper

My column this week in the FT is on OTC derivatives: