Many of the Wall Street executives behind the phony securities mess have been fired. Here are the latest to get the axe. Of course, these firings won't do much to change the corporate culture in which these people flourished.
Credit Crisis Claims Morgan Stanley Exec
Friday November 30, 2:24 AM EST
The latest executive to fall was Morgan Stanley's Zoe Cruz, a 25-year veteran at the firm and one of the most powerful women in the financial world. Cruz was ousted as co-president Thursday in a sweeping management shake-up aimed at turning around the company.
Cruz joins a growing list of Wall Street's top names who have been fired since the summer, including Merrill Lynch & Co.'s Stan O'Neal and Citigroup Inc.'s Charles Prince, for presiding over firms that became mired in the subprime mortgage tar-pit.
Also Thursday, online brokerage E-Trade Financial Corp. said CEO Mitch Caplan would step down from his position, and there continues to be speculation that Bear Stearns Cos. head James Cayne will be forced to retire early.
Friday, November 30, 2007
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