Morgan Stanley was once the pride of Wall Street, the investment and financial services bank that ruled all others in that realm. However, when after its merger with Dean Witter Discover, Philip J.Purcell took over as the CEO of this banking giant, a lot of leaves were ruffled. Stock prices crashed by more than half their values during the years Morgan Stanley was headed by Purcell. Lawsuits were filed questioning the functions and ethics of the bank. This was not digested silently by a group of the bank's ex-workers, who joined hands to plan an overthrow of the CEO. Advertisements to appeal to the public, twisted business deals and behind-the-curtain convolutions to raise voice against the presiding CEO's series of decisions that smeared the name and glory of the reputed bank resulted in the return of John Mack at the helm of affairs. Beard's journalistic insight into the happenings of the time that took the reputed institution by storm is a thrilling delight to read. The victory of the popularly called "Eight Grumpy Old Men" returned to the bank its status, success and business culture that had vanished under the tarnishing reign of Purcell. Investment bankers, economists and historical observers resort to this brilliantly written book to feel the thrill and workings of Wall Street and do not find themselves disappointed.
