Morgan Stanely CEO John Mack is personally going after anyone he believes might be responsible for his firm’s stock drop, including telling J.P. Morgan Chase head Jamie Dimon to order his bankers to stop spreading vicious rumours about his firm and the safety of keeping money there. Jamie unsurprisingly said he’d comply; we know how he feels about rumormongering.
WSJ: In a phone conversation, Mr. Mack asked J.P. Morgan CEO James Dimon to tell the J.P. Morgan brokers to stop, and Mr. Dimon told him he’d take care of it, these people added..
After the conversation, Mr. Mack stopped hearing such reports. In recent days, J.P. Morgan executives have warned their bankers to stay away from Morgan Stanley and Goldman clients and employees.
Anyone caught disobeying will be fired, one senior J.P. Morgan executive said.
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