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As CNBC Interviews Morgan Stanley Chairman, FBN’s Gasparino Breaks News on the Company

Today’s debut of the new CNBC show “Strategy Session” hosted by David Faber along with Gary Kaminsky included an interview with Morgan Stanley Chairman John Mack.

While Mack was on CNBC starting at noon, over on Fox Business — at 12:02 — former CNBCer Charlie Gasparino was breaking news of potential big layoffs at none other than Morgan Stanley — as many as 1,200 employees cut and 300 branches closed.

“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.”

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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.”

> Previously: At a Bloomberg panel in November about coverage of the financial crisis, Mack was asked if the media’s reporting on his company was fair.

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