Philip Stephens: In Absence Of Competition, Banks 'Have Been Operating Natural Oligopolies'

Philip Stephens: In Absence Of 'Robust Competition,' Investment Banks 'Have Been Operating Natural Oligopolies'

During the good times no one worried too much about these oligopolies. Markets were booming and the investment banks persuaded policymakers that they made a big net contribution to economic dynamism. That myth has now been exploded.

Popular in the Community

Close

What's Hot