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So did the -- that fiasco and NASDAQ CEO Bob -- -- quest for total control over the exchange.
Charlie -- -- joins us on the fun of all the exclusive details Charlie.
I think these days I mean yeah.
Furlong Baldwin in which -- always -- the chairman of the NASDAQ which essentially should retire at the board meeting on Tuesday.
But that was blown completely out of the water by as you know distasteful follies and nasdaq's pretty.
Rendition arch its pricing and execution of that deal and what was it what -- in the cards was dead -- -- -- would retire as chairman.
Bob Wright -- now -- CEO would assume that you chairmanship and the CEO role it would be fairly controversial before.
This thing happen because that you know a lot of these exchanges the body -- chairman and CEO lot of companies do just for corporate governance purposes.
But but -- -- gonna do it we should point out that the board of that they could pretty bright -- friendly board of these guys are essentially in his pocket but what the FaceBook thing happened studied it they could bring themselves to give all the power to -- build a match.
Basically what went down Baldwin stayed at least put it -- be in -- for the short term.
As chairman gripe but remains.
At least for now let's CEO obviously everything is up in the -- as we have been reporting -- couple base.
You know right so jobs did you -- basic fight for his job as more more sordid details of what went down -- in the pretty lousy execution of the FaceBook IPO last Friday and you know that's actual and essentially that -- I'll be even they would admit dropped the ball in the in -- -- an apple fiasco that were are right now -- -- remained -- CEO.
For a long as chairman he cannot get both old scrolls and you know -- bottom line in this.
He is now fighting for his job as he yells back -- -- He Charlie Morgan Stanley is responding some of the money that investors lost on the FaceBook IPO is that a story you -- working on.
Yeah we just last night I mean that's what they essentially announced that the brokerage sales force and its.
How we look at leave -- there -- no it's not.
I guess they're no good guy to -- has kind of like the Russians battle determine what -- true.
Kind of want everybody to -- but the band the unfortunate thing is while all these Wall Street firms.
You know really -- NASDAQ and yet station -- -- Got greedy and and -- more shares and it probably should have at a higher price.
The aggregate -- -- got screwed one thing I will tell he was at Morgan Stanley is trying to make up some of that some of that back you know what they did last -- -- tell there.
-- sales force that.
You know -- show us that they don't do every trade where where our clients cut screwed on execution pricing.
What we'll try to make it up and so that's what -- that's what they announced -- -- -- and one of the reasons -- they get that -- is because I mean this just doesn't look I think about it.
This was a deal that was heavily pushed -- retail.
That means the average investor for the average investor took it on the chin in ways that you -- hard to imagine.
At the very least Morgan Stanley try to trying to make demands.
OK Charlie gets freed up thanks so much -- greater.