FACTBOX: Quotes from Morgan Stanley's executives during crisis

NEW YORK (Reuters) - Morgan Stanley reported a wider-than-expected $2.2 billion quarterly loss on Wednesday as plummeting markets generated more write-downs and slashed fees in nearly every business, from underwriting and brokerage to money management and investing.

It was the bank's second quarterly loss in the last five quarters, driven by about $5 billion of write-downs. Yet shares rebounded on Tuesday, in part as analysts and investors drew some encouragement from comments made by Morgan Stanley Chief Financial Officer Colm Kelleher.

A review of statements made by Kelleher and by Chief Executive John Mack during the past year, though, shows these well-respected executives are not always the most accurate prognosticators:

"While we expect 2008 to be another growth year, we do not expect the current growth trajectory in revenue and return on average common equity to continue." (November 13, 2007 - CFO Kelleher at Merrill Lynch banking conference)

"The fact is that we have a strong broad-based business. We're positive about our business mix ... we're optimistic about the long-term prospects." (December 19, 2007 - CEO Mack on the company's fourth-quarter result's conference call with analysts)

"We believe that with our strong capital base and liquidity, we have a strategic advantage to capture the many opportunities arising in the midst of this market turbulence." (February 6, 2008 - CFO Kelleher at the Credit Suisse Group Financial Services Forum)

"It looks like the Fed and everyone else is determined to keep the economy from entering into a prolonged recession." (March 19, 2008 - Kelleher told Reuters in an interview)

"If you look at the subprime problem in the U.S., you would say we're in the eighth inning or maybe the top of the ninth" of a nine-inning baseball game. "Leveraged lending, as we know it, is in the ninth inning." (April 8, 2008, Mack told Reuters in a sideline interview before the firm's annual meeting)

"We're in the zone." (June 18, 2008 - Kelleher in an interview with Reuters, indicating the firm was largely done reducing leverage and would consider again boosting assets should trading and investment opportunities arise)

"I am confident that Morgan Stanley's strong balance sheet and product and geographic diversification leave us well-positioned to serve our clients and realize opportunities in these challenging markets." (September 16, 2008 - Mack in the press release of the company's third-quarter result)

"The diversification of the businesses in capital markets is what drives the broker-dealer model ... More important, investment banks have the ability to reinvent themselves and innovate many times throughout a cycle." (September 16, 2008 - Kelleher, in an interview with Reuters. Five days later, the firm applied with the Federal Reserve to become a bank holding company)

"The global capital markets -- and the financial services industry -- have experienced unprecedented turmoil in the past few months. But the people of Morgan Stanley came together as never before to lead the firm and our clients through this challenging environment" (December 17, 2008 - Mack in the press release of the company's fourth-quarter results)

(Compiled by Joe Giannone and Juan Lagorio)