Bashing big banks has become a favourite pastime for politicians in Washington. So a vigorous counterattack was only a matter of time. Recently this rearguard action has been led by lobbyist Scott Talbott, a senior vice president at the Financial Services Roundtable. Global banks are needed to serve global companies, he says. 'Simply break them up,' Talbott contends, and you 'discourage a company from achieving the American dream, working harder, earning more money, producing more products and getting bigger'.
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