Berg, Eric N. "Morgan Discloses Impropriety," New York Times, 22 May 1986, pp. D1, D2.

 

Berg, Eric N. "Morgan Discloses Impropriety," New York Times, 22 May 1986, pp. D1, D2.

Here a former senior vice president of Morgan is said to have "made unauthorized withdrawals"
from customer accounts. He left Morgan 9 months ago and joined Drexel Burnham. Morgan has
nothing to say on the matter and it is only an unnamed source who identifies the accused. It is
reported here that he "stepped down" at Drexel Burnham when officials confronted him with the
story from Morgan.

If you steal $20 at the local liquor store, it is called "robbery." Withdraw $6,000,000 of other
people's money and it's an "impropriety."