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The Emperors of Banking Have No Clothes

I just think that this constant refrain “bankers, bankers, bankers” is just unproductive and unfair. People should just stop doing that.

Jamie Dimon, chief executive officer of JPMorgan Chase, Davos, Switzerland, January 27, 2011

The world has paid with tens of millions of unemployed, who were in no way to blame and who paid for everything. It caused a lot of anger. . . . We saw that for the last 10 years, major institutions in which we thought we could trust had done things which had nothing to do with simple common sense.

Nicolas Sarkozy, President of the French Republic, Davos, Switzerland, January 27, 2011

FOR THE FIRST YEAR after the financial crisis of 2007–2009, bankers were lying low, mindful ...

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