Morgan Stanley, one of a key stock of Wall Street banking giant left more or less intact after the credit meltdown of the past two years, reported a second-quarter loss of $159 million that was significantly worse than analyst expectations.
Earnings were hurt by a charge from repaying government bailout money. Net Revenue fell 11 percent to $5.4 billion.
During the quarter, Morgan Stanley repaid $10 billion from the government’s Troubled Asset Relief Program, incurring a one-time charge of $850 million.
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