A Morgan Stanley banking salve

Banks around the world still face ROE problems, but James Gorman says that’s not a bad thing – and the lessons of the financial crisis have well and truly been learned.

America’s banks aren’t too big, Australia’s four pillar system serves us well and the regulatory response since the financial crisis has been robust.

Those are the views of Australia’s leading man on Wall Street, James Gorman, who is adamant the steps taken since the heady days of 2007 have slashed the risk of a future US banking crisis.

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