Federal and state authorities on Thursday announced a $3.2 billion settlement with Morgan Stanley over bank practices that contributed to the 2008 financial crisis, including misrepresentations about the value of mortgage-backed securities.
The securities industry in New York City tallied $8.7 billion in profits during the first half of 2014, which was 13 percent lower than the same period last year as it continued to deal with the fallout from the 2008 financial crisis, New York’s comptroller reported Tuesday.