The banks are used to being assailed by wild-eyed populists. They are less accustomed to withering critiques from within the Washington establishment. As a result, the recent campaign to curb the political power of the financial services industry has come as a particular surprise. Simon Johnson, former chief economist at the International Monetary Fund, has been using his impeccable establishment credentials to launch a damning attack on the US banks.rnIn his blog, baseline scenario and numerous articles, he has been making a powerful case against what he calls the financial 'oligopoly' that has tripped up the global economy.
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