Kevin Allocca of TV Newser reports Monday that Morgan Stanley chairman John Mack was on CNBC at noon talking about the economy while at the same time rival Fox Business Network was reporting layoffs at the Wall Street firm.
“‘It is worse than anything I can imagine,’ Gasparino said of the cuts. ‘We are talking major cutbacks following the merger of its brokers department with Citigroup.’
“Over on CNBC, when asked about growing concerns about the problems in the EU, Mack said, ‘This doesn’t feel like the crisis that I went through [in 2008], so I feel a lot better about it.'”
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