Morgan Stanley CEO favors Sen. Clinton

New York’s Morgan Stanley on Friday confirmed that chief executive John Mack is endorsing Sen. Hillary Rodham Clinton,…

New York’s Morgan Stanley on Friday confirmed that chief executive John Mack is endorsing Sen. Hillary Rodham Clinton, D-N.Y., in the 2008 presidential election, according to published reports.
Mr. Mack is chairman of the board of trustees of New York-Presbyterian Hospital, and his involvement with health care is one reason for the endorsement, a source familiar with the situation told CNNMoney.com.
Mr. Mack is a registered Republican who raised at least $200,000 for George W. Bush’s re-election, according to
BusinessWeek.

Firstrade rated higher than other e-brokers
Firstrade Securities Inc. got the top overall score in Consumer Reports Money Lab’s latest ratings of online brokerage firms, according to a statement released by Firstrade on Friday.
The Flushing, N.Y.-based online broker received 92 points overall, ahead of E*Trade Financial Corp. of New York, with 87 points, TradeKing of Boca Raton, Fla., with 86, and The Charles Schwab Corp. of San Francisco, with 85.
In its ratings of online brokers, the Yonkers, N.Y.-based Consumer Reports Money Lab graded firms valued by typical small investors, or those who make two or three trades a month.
Nineteen web-based financial firms were evaluated as part of the ratings.

Economic growth slows to a crawl
U.S. economic growth slowed to its most sluggish pace in four years, the Department of Commerce estimated Friday.
The gross domestic product inched up by just 1.3% in the first quarter, in stark contrast to the 5.6% growth in the first quarter of 2006 and the 2.5% rise in the fourth quarter of last year.
The growth was the weakest since the 1.2% rate in the first quarter of 2003.