Morgan Stanley

Banking and Shadow Banking

Words… what do they really mean? What is banking? What does a bank do, or what is it that a bank is supposed to do? I’m 53 and in my lifetime, I’ve witnessed a complete change in the banking system in the U.S.

Who Sunk Housing?

Morgan Stanley’s view of a “rentership society” is an interesting read, but underlying it is the specious argument that Fannie