NEW YORK (TheStreet) — Moody’s took a pipe wrench to Morgan Stanley’s reputation.
The bank and its defenders, in turn, are claiming that Moody’s has a blinkered perspective, but that carping won’t do much good.
Fact is: Even if Morgan Stanley apologists claim not to give a damn about the firm’s bad reputation, it will have an impact. The effects will obviously be psychological, tarnishing the bank’s image in the eyes of customers and employees. It will also hit Morgan Stanley in the moneymaker, potentially increasing its borrowing and collateral by about $7 billion. …
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