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NEW YORK Authentic Jordan Weal Jersey , March 25 (Xinhua) -- The United States banking industry is in a total safe state and it is ready for some deregulation to sustain development, former Chairman and CEO of Morgan Stanley John J. Mack has said here.
The regulatory oversight now is dramatic in the financial sector, the amount of capital that firms appearing is huge, and the amount of risk has been de-risked, Mack said in an event titled ""Conversations with Global Business Leaders"" in New York on Thursday.
Mack, the CEO who led the investment bank through the 2008 financial crisis, said that situation now is completely different from nine years ago in the banking industry.
The financial crisis in 2008 began with a crisis in the U.S. subprime mortgage market, and developed into a global banking crisis with the collapse of the investment bank Lehman Brothers. Many considered that excessive risk taken by banks was the major cause of the crisis.
""Today there are a lot more regulation; the Federal Reserve is much more involved in the risks that investment banks take. The banks clearly remember what they went through, there is much more focus on risk control,"" Mack said.
""Now I don't see any risk from overexposure too much leverage, also we have done a lot of work on cleaning up the housing market and ggets.com/]Wholesale Nuggets Jerseys[/url]
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