Former Treasury Secretary Paulson: The World should prepare for a new financial crisis

Former Treasury Secretary Paulson: The World should prepare for a new financial crisis. The World economy is still recovering from the devastating financial crisis five years ago. Henry Paulson, the Treasury Secretary from that time, says the World should be prepared for it to happen again. He thinks that banks are still too-big-to-fail and that the shadow banking still poses a serious risk. He believes that there need to be stricter capital and liquidity requirements, especially for the larger banks or another crash is likely. James Gorman, the CEO of Morgan Stanley, disagrees. He said that banks are taking a much better approach these days and the probability of another financial crisis in our lifetimes is close to zero. (VIEW LINK)