# Prof. Thomas Philippon on the the financial sector's costs to society

1 Faculty News February 22, 2012 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://dealbook.nytimes.com/2012/02/22/the-volcker-rule-made-bloated-and-weak/?nl=business&emc=dlbkpma1) -- "Professor [Thomas Philippon](http://w4.stern.nyu.edu/faculty/bio/thomas-philippon) of New York University has found that the financial sector’s costs to society have risen, not fallen, in recent decades."

[Read more](http://dealbook.nytimes.com/2012/02/22/the-volcker-rule-made-bloated-and-weak/?nl=business&emc=dlbkpma1)

Additional coverage appeared in [Bloomberg](http://www.bloomberg.com/news/2012-02-23/banks-lobbied-to-widen-volcker-rule-before-inciting-foreigners-against-law.html) and Propublica.