Morgan Stanley Chair Drops 'F-Bomb'

" last month Morgan Stanley chairman John Mack gave a crowd at Wharton business school rare inside it let's say. Into events that unfolded during the height of the economic crisis in September 2008 this that we're gonna plays in response presumably consummate. To his secretary when he was told that then New York fed president Timothy Geithner was on the phone line. Tim Geithner is on the phone and he wants to talk to you now. -- Tim Geithner to get. Who may have had a standing ovation for the F word and everybody here joining us now is Al Lewis Tanjug -- mark Thomas. Well I think we -- guess what he -- get -- essentially right."

" Yes what he said it you know what he got a big applause sport you know under the circumstances it was almost an appropriate word here. He was on the phone with the triumph spread of Ben Bernanke. And and Tim Geithner and Hank Paulson and Eric demanding that he Seles firm for a dollar to JPMorgan Chase and any hung up on them. And and they called back and they called back in meanwhile he's trying to cut a deal with the Japanese. And they kept calm and finally a secretary pops her head in the door system Geithner wants to touch you on the phone now. And that's when he and unleash that death F bomb there. You know. I talked to the folks at Morgan Stanley they say that that Tim Geithner was never actually delivered that message but I guess now they can watch it on YouTube because."

" This is wanna be that's John videos on YouTube right now."

" All everybody's everybody's looking actually before this segment somebody show me before I knew were gonna do -- but he had just to bring context. They had collected what about a 181. Billion in cash as was a year ago during the meltdown. So that you dated that Paulson -- Paulson our group wanted him to sell for bark when he had a 181. Billion in cash."

" Well actually this is the astonishing thing about what he was saying they set up all that money because they're expecting a run on the bank."

" And it was just going right out the -- they're getting a run on the bank -- on this -- at all time gotta -- leave it at that Al Lewis you go look it up on YouTube John Mack and the F Bob to."