Big Swinging Blood Pressure Broker

Check the following about Morgan Stanley’s John Mack and the blood pressure meters he has in his company’s New York offices. You just know this is going to be misread on Wall Street, with people soon installing blood pressure meters in their offices for bragging rights: “I hit 140/90 on that last project!”

He had no idea how much they’d use the [blood pressure guages]. For the next six weeks, Morgan Stanley, the securities firm carved from J.P. Morgan & Co. in the depths of the Great Depression, was hammered so hard that Mack and his executives were left gasping for air. On Sept. 26, with the bank’s shares down 39 percent for the month, Chief Administrative Officer Thomas Nides was so alarmed by his blood pressure reading that he raced to a hospital. It was a panic attack.

[via Bloomberg]