This time around, however, the banks should be in a better position to defend against public scrutiny.
Start with revenue. Despite the upheaval in the industry, many investment banks managed whopping fees from trading debt and arranging capital hikes in the first quarter, and are continuing to do so in the second. Much of this revenue may be connected with putting together deals to patch up the mess caused by a financial crisis which the banks helped create. But that's the way the investment merry-go-round works.
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