“Financial services giant Morgan Stanley may be facing charges it perpetrated a massive fraud in the sale of mortgage-backed securities, but no one can accuse the firm of lacking a sense of humor about it. Last month, e-mails surfaced in a 2010 New York civil fraud case showing that the firm’s executives sold the instruments to a Taiwanese bank for hundreds of millions of dollars knowing the impending collapse of the US housing market made the securities a hazardous investment – and they laughed about it.”

http://www.acfcs.org/emails-in-fraud-case-show-morgan-stanley-execs-mocking-value-of-securities-before-sale-to-taiwan-bank/

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