3min chapter

The Compound and Friends cover image

Where is the Crash?

The Compound and Friends

CHAPTER

The Consolidation of the Big Banks

I think the big banks have better accounting. They have more capital. They have deposit inflows. They have a technology scale advantage, which really matters. You know, it's the change in rhetoric about the big banks. 15 years ago, the problem was they were too complex. Now we don't say complexity. We say, look how sophisticated they are. And so I don't quite know how to handicap.

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