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

1 Faculty News September 15, 2016 ![Reuters logo](/sites/default/files/styles/246w/public/assets/images/con_030503.jpg?itok=0OAgrDF0)>

Excerpt from [Reuters](http://www.reuters.com/article/us-markets-saft-idUSKCN11L2NF) -- "Look at the high-level data and it is easy to see why my assertion that the industry is too big and too self-serving is fair. The unit cost of a dollar of financial intermediation has remained about two cents for 130 years, according to data from [Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon), Professor of Finance at New York University."

[Read more](http://www.reuters.com/article/us-markets-saft-idUSKCN11L2NF)