Below is the transcript of an affidavit from a case in which Bear Stearns attempted to impose a temporary restraining order on departed broker Doug Sharon. Sharon left for Morgan Stanley on March 17 — the day after J.P. Morgan made a deal to buy the embattled Bear Stearns — to the surprise of much of Wall Street. Bear's TRO was rejected by a Massachusetts court. See page 41 for more on Bear Stearns.
Q: Did you tell them that Morgan Stanley was like Bear Stearns on steroids?
A: There was a text message that I sent to Ross Dolgolff in response to a phone call I received from him asking me what was it like at Morgan Stanley, initiated by Ross Dolgolff.
Q: And what was your answer?
A: It's right in the text message.
Q: Your answer was, “Morgan Stanley's like Bear Stearns on steroids.” Right?
A: Right.
Q: What do you mean by that?
A: Well, I'll tell you what he thought it meant. His response was, ‘I hope it doesn't mean loss of hair, acne on your back and a small johnson.’”