Morgan Stanley Presses Face Up Against Window Of Christmas Party, Sighs

The world’s smallest violin could be heard playing over the news that Morgan Stanley is having to cancel its Christmas party this year, thanks to a lack of funds. Someone “leaked” an internal memo to the New York Post, in which the bank puts a “spirit of Christmas” spin on their decision not to fill a swimming pool with champagne and exist solely on smoked salmon for a week.

“[Charities] depend explicitly on donations, many from the financial-services sector…To help ease that pressure, we have asked all divisions to forgo their firm-sponsored holiday parties this year and instead help us apply those designated funds toward helping those most in need.” That’s beautiful, man.

Barclays also cancelled theirs last week, saying “it is not appropriate for us to do anything that might be seen as inappropriate by any of our stakeholders.” And they don’t even have to worry about being seen to waste taxpayer money! If there’s even a single party popper let off in HBOS, RBS, Lloyds, Bradford and Bingley, and Northern Rock this year, the papers will go into full off-the-leash savagery mode.

This idea of the banks all deliberately being miserable at Christmas to act as contrition for their money-splurging ways is hilariously silly, but I suppose it is weirdly satisfying…

Posted by Ben Beaumont-Thomas in Hot Money | November 4, 2008 12:27PM |