Morgan Stanley CEO says major threat to banks is ‘stupidity of their own management'

Outgoing Morgan Stanley CEO James Gorman ripped banks’ “stupidity of their own management” as one of the top threats facing Wall Street — right alongside artificial intelligence.When reflecting on his nearly 14-year tenure at Morgan Stanley to the Financial Times, Gorman — who has less than two weeks left at the firm — said that the banking system has become much safer, though the industry is still facing operational risks including its own top staffers.This year, there were three high-profile bank collaps ...