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On the Farm, Morgan Stanley was at Sea

"The New York bank — flush with $7.5 billion in fiscal 2006 profit, the biggest in its history — was going to be farming 11 parcels on the steppes of Ukraine."

"Morgan Stanley was primed for the investment. It was then the second-largest U.S. securities firm by market value, after Goldman Sachs, and chief executive John Mack was pushing managers to take more risks."