# Prof. Thomas Philippon's research on the financial services industry is cited

1 Faculty News December 12, 2014 ![Huffington Post logo](/sites/default/files/styles/246w/public/assets/images/huffpost192x144.jpg?itok=sF2Y0c9v)>

Excerpt from [The Huffington Post](http://www.huffingtonpost.com/sean-mcelwee/the-case-for-a-financial-_b_6311752.html) -- "There is now a strong literature suggesting that at some point, finance largely becomes extractive, while remaining at the same efficiency level. [Thomas Philippon](http://w4.stern.nyu.edu/faculty/bio/thomas-philippon) finds that the cost of financial intermediation has not fallen in 30 years."

[Read more](http://www.huffingtonpost.com/sean-mcelwee/the-case-for-a-financial-_b_6311752.html)

Additional coverage appeard on [The Washington Post](http://www.washingtonpost.com/sf/business/2014/12/16/a-black-hole-for-our-best-and-brightest/).