John J Mack

Larry January 21, 2010 Doodles 4 Comments

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Ball point pen on the morning newsprint

John J Mack once told lawmakers during testimony before a US congressional committee “We love what we do. If you gave us no bonus, we would still be here,”

As CEO of Morgan, Mr. Mack ushered in an era of huge risk taking. After almost putting the financial giant out of business and relying on a government bail out, Mack is out, but the bonuses are not. Despite it’s first loss in 74 years, Morgan Stanley earmarked 14.4 billion (with a B) for salaries and bonuses. that’s 62 cents of every dollar of revenue.

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4 Responses to “John J Mack”

  1. a brush with color said:

    Jan 21, 10 at 9:54 am

    His look in your portrait here says it all! wonderful

  2. Larry said:

    Jan 21, 10 at 10:25 am

    Thanks Sue

  3. VEe! said:

    Jan 21, 10 at 11:29 am

    He looks spooky.
    14.4 Billion, that makes sense, I think I should submit an application to J.P. Morgan.

  4. Larry said:

    Jan 21, 10 at 11:40 am

    Once you get a foot in the door, maybe you can find a desk for me Vee. A couple of guys doodling all day will probably mark an increase in their productivity, and the BONUS will be cool stuff to look at.