This was indeed thought provoking, but I would not go as far as to say that it is such a doom and gloom situation. But then I am biased since I am in the industry itself, but the factoids were interesting and I quote them:
McKinsey estimates that in 2006, profits per employee in banking were a staggering 26 times higher than the average of all other industries worldwide.
It emerged last week that one fund, Paulson & Co, made about $15bn (£7.7bn) last year betting against the mortgage market. Most of that will have come out of the banks.
An extreme example is Citigroup, where total shareholder return over the past five years has been slightly less than zero. Its wage bill, meanwhile, has risen 84 per cent.
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