Morgan Stanley CEO James Gorman: Banks 'dramatically safer'

Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City.
Neilson Barnard | Getty Images | The New York Times

With more than seven years gone from the seminal event of the financial crisis, Morgan Stanley CEO James Gorman said Wall Street has turned a corner.

Regulators have spent the years since Lehman Brothers blew up on Sept. 15, 2008, focusing on making sure a too-big-to-fail-style crisis does not happen again. Dodd-Frank regulations and other measures have forced banks to rein in risk.

Banks as a whole have paid more than $204 billion in fines and settlements related to bad behavior around the crisis and since.