Morgan CEO sees opportunity
PURCHASE, N.Y. -- Morgan Stanley Chief Executive John Mack said Tuesday Wall Street is facing the most difficult conditions he has seen in 40 years but feels the global credit crisis might be "in the final innings." He expects more bad news will come as the world's banks recover from the subprime mortgage crisis, particularly from "overseas and some small retail banks in this country." However, Mack said the market is turning and that could provide opportunity.
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