close
Banks

One Bank CEO’s Rx for Deregulation

Morgan Stanley

On Wall Street, the Dodd-Frank banking rules are about as popular as Alec Baldwin at a Donald Trump rally. But when we asked Morgan Stanley CEO James P. Gorman how he would revamp financial regulations, he surprised us.

“I would not opt for a complete redo or a repeal of Dodd-Frank,” says Gorman. The “basic architecture has served everybody’s interest well.”

Indeed, the results of last month’s Comprehensive Capital Analysis and Review evaluation, an annual bank health checkup conducted by the Federal Reserve, suggest that the financial industry is on firm footing. The Fed said it had no objections to the capital plans proposed by any of the 34 bank holding companies that took the exam—evidence of the banks’ much-improved health.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul