No Trust in the 'Futures,' Morgan Stanley Plays Mr. Fix It, Technology Bugs and More Quotes of the Week
Morgan Stanley officials vowed this week to fix the technology systems for the company's brokerage sales force, while the Peregrine and MF Global debacles have industry leaders losing faith in the futures industry. Plus, JPMorgan's new chief investment officer hopes for a return to a sense of normalcy at the firm after its own debacle.
September 07, 2012
1. Breach of Trust
We no longer have any trust for operating in the futures industry.
— Michael "Mack" Frankfurter from Cervino Capital Management LLC. Cervino has been caught up in both the Peregrine Financial and MF Global debacles.