Faculty News

Professor Thomas Philippon on the decreased size of the banking industry after the financial crisis

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Excerpt from The New York Times -- "For society more broadly, Thomas Philippon, a professor at New York University who has studied the economics of the financial industry, said that Wall Street had grown bloated in the three decades before the financial crisis and was shrinking to a size more in keeping with historical norms. 'It’s all for the best,' Mr. Philippon said. 'We had way too many people trading before.'"

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