Morgan Stanley

[spag68]

It is rare that I feel I have something to post, but this is the exception.On Long Island there is a free newspaper called Long Island Press. Anyway there is an article in the 9-25 to 10-1 edition called CRUDE How wall street is screwing america. The article chronicles how MS is screwing us all, but the real insanity is a little piece about how they do it.I would scan and put it up but as a semi luddite, I don't know how, so here it is.Energias de Portugal is the national energy producer for Portugal. This is a release by EDP announcing the sale of stock to MS. See if you can follow this: On April21 2008 MS notified EDP that as of a share transaction concluded on 16 March 2008in accordance with article 20 of the Portuguese securities market code it came to hold 79,157,462 ordinary shares of EDP which represents2.16% of EDP share capital and 2.16% of the voting rights and 16,745.810 convertible bonds into EDP shares which represent >46% od the EDP share capital and an imputation of the voting rights. A lot of gobblegook that means to me they own some of EDP.

Now for the good part: Morgan Stanley & CO. International which is owned by Morgan Stanley UK Group, which is owned by Morgan Stanley Group{Europe} and this is owned by Morgan Stanley International Limited, that is owned by Morgan Stanley International Limited, that is owned Morgan Stan;ey International Holding Inc. that is owned by Morgan Stanley. holds 68,334.088 ordinary shares of EDP which represents 1.86% share and capital and 1.86$ of voting rights and 16,745.810 convertible bonds into EDP shares which represents .46% of EDP share capital and imputation of .46% of the voting rights.

Theres more: MS% Co. Incorporated which is owned by Morgan Stanley holds 9,485,622 shares representing .25% of the share capital and .25% of the voting rights.

MSDW Equity Finance Services 1 {Caymen}Ltd. which is owned by MSDW Offshore Equity , which is owned by MS holds 1,000,000 shares corresponding to .02% of the share capital and .02% of the voting rights.

MS Capital {Luxemborg} S.A. Which is owned by MS International Holdings Inc. which is owned by MS holds 316,552 shares representing .00% of the share rights and0.00% of the voting rights.


Bank MS AG {Zurich} Which is owned by MSDW Equity Finance Services 1 Which MSDW Offshore Equity Services , Which is owned by MS holds 21,200 Shares corresponding to 0.00of th share capital and 0.00 of the voting rights.


Now anyone who can make any sense of this pile of crap is a better man then I am. But If it wasn't so sick it would be down right funny, I know I laughed din spite of myself. Any one who wants to see the article can, I think get it at the web site. The real story is about how MS manipulated the oil price and made millions by getting a govt. contract to hold some 750,000 barrels of oil which they did not have at any time. and all they did was legal.Some names involved are John Mack AKA mack the knife CEO Gary Aguire former SEC investigator Sen PHIL GRAMM and WENDY GRAMM. and MS oil analyst Douglas Terreson, who was fired by MS for pricing the oil futures too low. It is a difficult but scary and informative read.

[lurky]

1. Found it online:

http://longislandpress.com/main.asp?SectionID=2&SubSectionID=2&ArticleID=16636&TM=67059.85

Looks like a good article. Bookmarked for later.

[spag68]

2. MS article

Craziest thing I have read lately.

[TahitiNut]

3. Like Enron, these global corporations are actually hundreds of interlinked corporations.

Some subsidary corporations are "privately held" which means their books aren't open to the public except incofar as the parent corporation(s) must reflect their impact in the parent cotporation's balance sheet. Some subsidiaries are established due to laws in the host country that require certain ownership rules, such as 51% domestically-owned. Other laws and the location of incorporation have tax and legal purposes. Most significantly, liabilities are LIMITED to the incorporated entity itself. Thus, only THAT corporation's assets are at risk and NOT the parent corporations. Assets (cash, securities, etc) are transferred between parent and child corporation at least in part in order to shield them from liability. Some of the subsidiaries can be only PARTLY owned by one parent corporation and partly owned by others ... and offer a slick way of transferring assets and liabilities between them in somewhat invisible ways.

It's a hell of a shell game. One hulluva lot of wealth can be hidden in those shells ... as well as liabilities.

[spag68]

4. MS

The instant I saw Cayman, I knew for sure, as I did all along that it was a shell game to avoid taxes. These bastards cry about Corp. tax rates and Cap gains, while in reality they pay no taxes at all.