WSJ: There’s No Place Like…Morgan Stanley

Ding dong, the witch is dead. Phil Purcell, the soon to be ex-CEO of white-shoe, blue-blooded (and red-in-the-face) Morgan Stanley has melted, and all will be right again. The stock will hit new highs, the munchkin employees (and Toto, too) will be paid enough to pave their own Yellow Brick Roads, the long list of departed trading and banking honchos will come flying back to Emerald City, saving the company from being sold on the cheap.