Paris - The French finance minister, Christine Lagarde, was on a panel at the World Economic Forum in Davos this January when her usual smile turned into a frown. Next to her, Robert E> Diamond Jr., Chief executive of Barclays and one of the most powerful bankers in the World, Thanked regulators and finance ministers for their role in Shaping a better environment after the financial crisis.
Ms. Lagarde looked him in the eye, "The best way for the banking sector to say thank you would be to actually have, you know, good financing of the economy, sensible compensation systems in place and reinforcement of their capital, " she replied, to a burst of applause.
Therein lies the problem...That wish list is so far from their business model it sounds revolutionary...
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