Michael Grimes is returning to Morgan Stanley after a stint in the Commerce Department, just in time for the anticipated IPO of SpaceX. Grimes has a history with Elon Musk, having played a crucial role in taking Tesla public during his previous tenure at the investment bank. His move back to Morgan Stanley signals his involvement in what could be one of the largest IPOs in history. While Grimes was working in government, he observed from a distance as his former colleagues positioned themselves for the SpaceX IPO. His return raises questions about whether he can help secure the deal for Morgan Stanley, especially given the competitive landscape on Wall Street. The article highlights the significance of Grimes' role in the IPO, underscoring the financial stakes involved for both him and the bank.