Bajvrers are a pretty sober lot these days, and it's not hard to see why. Results for the year just ended have been lackluster, to put it kindly. U.S. banks are struggling to grow revenue and watching their once-high-powered investment banking divisions shrink under the pressures of regulatory reform and reduced deal making. European institutions are taking hits from the debt crisis and scrambling to raise capital. Bankers are asking hard questions about the scale they need to operate effectively in a Basel III world of higher capital requirements.
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