Professor Thomas Philippon's research on the cost of financial services is cited
— February 4, 2019
Excerpt from Financial Times -- "In Finance v Wal-Mart: Why are Financial Services so Expensive?, Mr. Philippon crunches the numbers on costs for consumers. The results aren’t pretty, with increased intermediation just one of the smoking guns. According to Mr. Philippon: 'The cost of intermediation per dollar of assets created has increased over the past 130 years.'"