Morgan Stanley (MS -1.6%) can't catch a break, says Hedgeye's Josh Steiner ahead of what could...

|About: Morgan Stanley (MS)|By:, SA News Editor

Morgan Stanley (MS -1.6%) can't catch a break, says Hedgeye's Josh Steiner ahead of what could be a $9B collateral call if the Moody's downgrade happens. Maybe of most concern is the bank's vulnerability to "counterparty confidence flight," which can go from gradual to sudden overnight. As for now, the bank is trading as if it's no longer TBTF.