Morgan Stanley Applauds Cuomo and FSA Actions on Short Selling
Morgan Stanley applauds Attorney General Cuomo for taking strong action to root out improper short selling of financial stocks. By initiating a wide-ranging investigation of this manipulative and fraudulent conduct, Attorney General Cuomo is showing decisive leadership in trying to help stabilize the financial markets. We also support his call for the SEC to impose a temporary freeze on short selling of financial stocks, given the extreme and unprecedented movements in the market that are unsupported by the fundamentals of individual stocks.
The FSA has already put in place a freeze on short selling in financial stocks that is designed to protect the integrity of markets in the UK, and we applaud their actions.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firmís employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 35 countries.
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