Now Morgan Stanley Needs "$60 Billion" Of New Equity

``If Egan-Jones first estimate of $30 billion is right, Hank will have to write a $20 billion check and Morgan Stanley's current shareholders will end up with one-quarter of their firm. If Egan-Jones's new estimate is right, Hank will have to write a $50 billion check, and Morgan Stanley's current shareholders will end up with 16% of the firm. And that's if the Mitsubishi deal goes through and Hank doesn't demand warrants and a huge preferred dividend for his trouble, which, by all rights, he should.''