FILE- In this Nov. 8, 2010, file photo, James P. Gorman, president and CEO of Morgan Stanley, appears at the Securities Industry and Financial Markets Association "Invested in America" annual meeting, in New York. Morgan Stanley, the storied investment bank, reported Thursday, July 19, 2012, that its revenue was down sharply for April through June and its profit missed Wall Street expectations. The report capped a dismal season for the banking industry. This spring was marked by choppy financial markets, concern across the global economy, awkward adjustments to new regulations and one scandal after another. (AP Photo/Richard Drew, File)