Matt Levine, Columnist

Morgan Stanley Lost Some Hard Drives

Also SPAC King, DWAC SPAC, a regular IPO and fun bond trading.

Well here’s my new financial heist movie script. A big bank has a lot of computers that keep track of its customers’ accounts. It periodically buys new computers to do a better job of keeping track of those accounts. When it does that, it hires a moving company to cart away all of the old computers. The moving company makes a few extra bucks by selling the old computer hardware to, I don’t know, scrappy small technology businesses that are happy to have the bank’s slightly outdated hardware. Ideally the bank, or the moving company, would delete all the data on the computers first, but that takes time and time is money and sometimes they forget.

So what you do is, you set up a scrappy small tech business as a cover, and you go to the bank’s moving company’s computer sale and buy all the computers, and then you turn them on and get all of the bank’s customers’ account information, and then you steal their money. Okay, having written this all out, I guess it is a boring heist movie, never mind. Still: