Morgan Stanley is one of the world's largest banks, so naturally it has racked up a long list of frauds, crimes, and misdemeanors, which it has emerged from largely unscathed, thanks to the unwillingness of governments to tackle corporate crime, especially in the finance sector.
So it's not surprising that Morgan Stanley’s European equity team has issued a report warning that the returns to its shareholders will be hurt more by Jeremy Corbyn and the Labour Party taking office than it would suffer as a result of even the most catastrophic, bungled Brexit under the Tories (who never met a crooked banker they didn't love and solicit donations from).
It's a surprising and frank admission from the bank, that its profits rely more on friendly governments than they do on competent ones.
“From a UK investor perspective, we believe that the domestic political situation is at least as significant as Brexit, given the fragile state of the current government and the perceived risks of an incoming Labour administration that could potentially embark on a radical change in policy direction.
“Against this backdrop, even if we see good progress in the Brexit negotiations, the scope for UK sensitive assets to rally may be muted, unless we also see an improvement in the government’s position in opinion polls.”
Corbyn becoming PM is 'worse threat to business than Brexit', says bank
[Patrick Greenfield/The Guardian]
(via Naked Capitalism)
(Images: David Martyn Hunt, CC-BY; Elliott Brown, CC-BY)
Oakland, like San Francisco, has an out-of-control homeless crisis fueled by out-of-control housing prices; like San Francisco (where aid for homelessness can include tents to make outdoor sleeping more comfortable and safe), Oakland is supplying "temporary housing" for homeless people that institutionalizes a kind of living that has heretofore been viewed as a problem in […]
The CEO:worker wage ratio was stable in 2015/6, but some unnameable policy or policies, which we can only guess at, were at work in 2017, boosting the gap by 17.6% to 312:1.
Economists like Alberto Alesina and Silvia Ardagna reshaped the world when their theories of "expansionary austerity" were put into effect after the 2008 crisis: the idea that governments could "increase taxes, cut spending, and grow strongly" was powerfully tempting to the world's leaders, who saw in them a way to pull out of a recessionary […]
iOS 12 is finally here, which means now is the best time for aspiring developers to throw their hats into the app development game. While app development can be tricky for some, you can take an intuitive, beginner-friendly approach to understanding app creation and Apple’s latest iOS platform with the iOS 12 & Xcode 10 Bootcamp, […]
It might still be September, but the holiday season will be here before you know it, which means now is the time to think about where you want to vacation to—and what to do once you get there. To this end, we’ve scoured the Web and tracked down a number of travel hacking ebooks, gadgets, […]
The human eye is a beautiful, incredible thing, but it’s far from perfect, especially when it comes to examining objects up close. Capable of magnifying objects up to 1,000 times, this portable microscope camera lets you see wonders hidden to your regular vision, and it’s on sale today for $38.99. Don’t let its compact size fool […]