Give John Mack a Hand

Get the latest Wall Street investment tips on high finance, hedge funds and more. Read the up-to-date Wall Street news blog now.

Sure, Morgan Stanley’s worse-than-expected first quarter loss of $177 million is nothing to cheer about. And investors, in early trading, are beating up on the stock, pushing shares down 7%. But give Morgan Stanley CEO John Mack credit for putting out an earnings report that doesn’t try to hide the investment firm’s warts.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.