Bahnsen 'Stunned' by Morgan Stanley-E*Trade Deal, Predicts Difficult Merger

The transcript discusses Morgan Stanley's $13 billion acquisition deal, comparing it to past deals like the acquisition of Smith Barney. Concerns are raised about the brand alignment and economic implications, particularly the shift towards zero fees. The cultural challenges of merging with E Trade, whose clients typically do not seek advisory services, are highlighted as a significant hurdle.

What was the historical context of Morgan Stanley's previous acquisitions mentioned by the speaker?

According to the speaker, what economic problems are hinted at by the current market situation?