Matt Taibbi’s latest bomb has dropped over at Rolling Stone, this time on John Mack’s wife Christy Mack, and her business partner Susan Karches. Mr. Taibbi has already written that John Mack, chairman of the board of Morgan Stanley, narrowly avoided being investigated for insider trading; now the story is how Ms. Mack and Ms. Karches founded a company in 2009, Waterfall TALF Opportunity, and then got a bailout loan of $220 million from the government that they invested in securities. According to Mr. Taibbi, the loan has not yet been repaid.
Here is Ms. Mack on The Charlie Rose Show in 2008. It’s a strange video, mostly because Mr. Rose, who is also Ms. Mack’s former brother-in-law, has a nasty-looking black eye and Ms. Mack, investor, is talking about her interest in alternative medicine.
Oh, and more on the Macks’ carriage house here!