Morgan Stanley's John Mack won't get a raise, but his top execs will

It is a good thing that Wall Street veteran John Mack is fabulously rich from all the investment banks he has run over the years. He's not getting a raise this year.

Morgan Stanley (MS) will keep his salary flat at $800,000 for the next year. Mack's chief deputies will get modest increases to their base pay. But all will have to hope for the day that Wall Street's good fortunes return.