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Morgan Stanley / fruad

1 United States Review updated:
Contact information:
Phone: 212-761-8489

Morgan Stanley lost my companies 401k saving for all our employees.
We were told it would be a safe investment rated AAA
We did not choose anything aggressive in terms of investing. It was supposed to be secure most importantly a safe investment. Morgan Stanley made reckless trades, some trades consisted of selling and rebuying the same investment. They did this to make a commission on the sale and purchase of the same instrument.
There was no point in the buy and sale. It made no money for us, but each time they did that we had to pay the commission fee.

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Comments

Ad
  14th of Jul, 2009
0 Votes

Cyan,

My condolences to you and your company. As an advisor, if everything that you are stating is accurate, what Morgan Stanley did is unethical and illegal. They can not continuously buy and sell securities to generate commissions for themselves. If you haven't already, I would contact the SEC and also FINRA and let them know what is going on.

Sincerely,

Chris

Sm
  2nd of Aug, 2009
0 Votes

I am an ex-Morgan Stanley employee. The amount of risks that the firm takes with systems that cant handle the financial products are amazing to even me. The risk management department is understaffed with poor leadership and black boxes everywhere. The books are confusing and the systems are so outdated that giving your money to Morgan Stanley is a risk in itself. Dont trust this firm, it looks great on the outside, due to their tactics on manipulation of capital markets trading. The leaders are crooks and so are their employees who are lifers there. I really found it disgusting to work in such an environment, I hope they go under, or change their management including firing the MDs in all the major areas, especially Institutional Trading and Risk Management.

By the way, FINRA and SEC are so idiotic, they dont know wtf is going on in the front lines. These regulators are window dressers and the FRB wants financial firms to fail so they can lend money WITH INTEREST to ailing financial firms, its a scheme. The FRB also does not have a strict oversight method nor will plan on doing so, why? Cause Interest is the name of the game for the FRB, this is how international bankers profit from world chaos. Keep at it Morgan, they create cashflow for the FRB, FINRA and SEC.

Pl
  22nd of Jun, 2017
0 Votes

It is so irritating how big companies like banks think they can do whatever they like without facing the consequences
I hope they got what they deserve

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