Second Take on John Mack

After trading MS yesterday and listening to Fast Money last night, I'm beginning to look at the Charlie Rose-John Mack interview differently. I have a warm, fuzzy feeling torward MS. I think I'll learn the difference between Morgan Stanley and JP Morgan.

Charlie Rose -- John Mack Last Night

Don't bother to watch. I "listened" in the other room, but this would be, I hoped, an hour of a guy (John Mack, Morgan Stanley, MS) who had the credibility, to give us some hope. North Carolina good 'ol boy, married to sister of Charlie Rose's former wife, southern accent, apparantly slower and more thoughtful style (which we need these days!).

But he spent the hour saying nothing! Recapping the history of what had happened to other firms on Wall Street; patting himself on the back for not taking a bonus, etc. NO hard questions by Charlie.

But still, maybe this type of thing will get us through. Just smooth talk by people who seem to have a clean record. (But I don't know that John Mack DOES have a clean record, because I haven't checked.)

And Morgan Stanley seems not to have fallen as much as the big boys.