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Fortune: Morgan Stanley back in black

Morgan Stanley posted its first quarterly profit in a year.

Fortune: How Morgan Stanley landed a sweeter deal than Goldman Sachs from Uncle Sam

The decades-long rivalry between Goldman Sachs and Morgan Stanley is Wall Street's answer to Smokin' Joe Fraser vs. Muhammad Ali. And last week, Morgan Stanley won the bout over who could devise a more lucrative exit strategy from the TARP (Troubled Asset Relief Program) when the company was able to untangle itself from Uncle Sam for $150 million less than did Goldman Sachs. When Morgan Stanley and Goldman Sachs received TARP funds last fall, the two banks got the same deal -- $10 billion equity infusions. In exchange, Goldman and Morgan Stanley agreed to pay dividends and also granted the government free warrants to buy up to $1.5 billion worth of their respective stocks at set prices.

CNNMoney: Morgan Stanley leaves smaller TARP tip

Morgan Stanley has left less on the table for Tim Geithner than Goldman Sachs did. The former has bought back its Troubled Asset Relief Program warrants for $950 million, against Goldman's $1.1 billion.

Fortune: Morgan Stanley posts another loss

Morgan Stanley posted its third straight quarterly loss Wednesday, as the brokerage firm struggles to bounce back from last fall's market meltdown.

Fortune: Morgan Stanley hires a risk-taker

Why is Morgan Stanley hiring a hedge fund manager to run its fixed income client trading business? After all, the Wall Street firm is supposed to have disavowed proprietary trading. So putting a risk-taker in charge looks odd. But bringing Jack DiMaio on board could be a smart move.

CNNMoney: Are banks now in write-up territory?

Are banks finally in write-up territory? With most markets rallying this quarter, it's tempting to think so. And some firms should be able to show some gains. But these won't be as easy to track as improvements in prices imply.

CNNMoney: A strange new twist for TARP rules

Has the Federal Reserve been reading too many fairy tales?

Fortune: Some banks stuff the mattress

Stressed out or not, some of the nation's biggest banks are awash in cash.

Fortune: Morgan Stanley suffers another loss

Morgan Stanley reported a much bigger-than-anticipated loss in the first quarter Wednesday, as the revenue at the bank's bread-and-butter equity sales and trading business plunged 74% from a year ago.

CNNMoney: Stocks stage turnaround

Stocks turned higher Wednesday morning, erasing early losses following Morgan Stanley's quarterly loss, as investors sought to revive the recent advance.

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