Morgan Stanley and other Casualties of Credit Collapse

Waiting for another shoe to drop?  Analysts predict that Morgan Stanley may take $3-6 billion write-downs in the fourth quarter.  While the firm's participation in underwriting CDOs was small, it may have been involved in transactions with other firms that exposed it to CDO risks.  WSJ, Storm May Hit
Morgan Stanley After Its Calm.

Meanwhile, the next "victims" of the subprime mortgage collapse may be Wall St. professionals whose year-end bonuses may be down as much as 15%.  NYTimes, Bonuses Likely to Shrink for Many on Wall Street.