The US investment bank Morgan Stanley has warned that Jeremy Corbyn as prime minister would be worse for British business than Brexit.
The bank said that nationalisation of industries, higher taxes on corporations and more spending on low-income household and the public sector could – horror of horrors – decrease the value of UK companies.
Morgan Stanley, the state-hating, socialist fearing, so-called creator of all wealth, went cap in hand for a $107.3 billion bail-out from the Fed during the 2008 crisis. This was more than any other bank.
In December 2015, it was reported that they intended to cut around 25 percent of its fixed income jobs.
The bank said this about Trump: ‘His anti-terrorism stance will also have positive implications for Defense stocks.’
As the bank’s stock surged on the back of Trump’s victory, chief executive James Gorman made a $2.9m profit in one day by exercising share options. This year Gorman will receive $22.5 million in total ‘compensation’.
Never mind Trump’s racist rants, his misogyny, his legitimising of fascist murderers, his pandering to the basest instincts of his electoral base, if his policies turn a quick buck, that sits OK with Morgan Stanley.