Description/Excerpt

The letter, which criticizes Mr. Mack for taking on high levels of risk that led to last year’s $9.4 billion in write-offs tied to mortgage trading, will be sent to Morgan Stanley’s largest shareholders this week. It also calls on shareholders to reject two other directors, C. Robert Kidder and Howard J. Davies. Both were members of the firm’s audit committee in 2005, when Mr. Mack made changes to the firm’s risk management. Mr. Kidder is also Morgan Stanley’s lead independent director.

http://www.gazhoo.com/Letter-to-Shareholders-to-Fire-Morgan-Stanleys-CEO-John-Mack/search.do?docId=4714