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Gorman Says Chance of Another Financial Crisis Near Zero

Morgan Stanley Chief Executive Officer James Gorman said there’s almost no chance of another financial crisis like the one that endangered his firm five years ago.

“The probability of it happening again in our lifetime is as close to zero as I could imagine,” Gorman said in an interview on the “Charlie Rose” show, citing steps by banks and regulators. “The way these firms are managed, the amount of capital that they have, the amount of liquidity that they have, the changes in their business mix -- it’s dramatic.”