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Investment Banking

Big banks have few rivals but cannot survive

It is suggested that barriers to entry in global investment banking are so high as to create an oligopoly – don’t be so sure

Big banks have few rivals but cannot survive
Photo: iStockPhoto

A recent editorial in The Wall Street Journal suggested that Hillary Clinton, who was paid an inflated $675,000 for a speaking engagement by Goldman Sachs, invoked a silent quid-pro-quo in which she would say she would be tough on the banks, but in reality would protect the industry.

Wall Street must believe it because Clinton's campaign has received more contributions from the financial services industry than any other candidate's.

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