Citigroup Chair Says Bankers Will Keep it Simple

 “I’m asked quite often, are institutions too large to manage? What is undoubtedly true is that large institutions — complex institutions — require superior management,” Bischoff said. “You need rules that have stood the test of time. What we have seen is institutions that aren’t necessarily too large, but that have become very complex.” “It is possible to have big banks,” Malladi said. “It is possible to have unified global institutions as long as there’s a way to manage all this complexity.”
“We should keep in mind the difference between market mistakes and market failure.” Actions will have to be sorted through to see which require public policy interventions and which don’t, he said, noting that a useful guide might be to determine whether or not people have learned from their mistakes or whether they will repeat them.
Bischoff predicted: “Regulation may change, and that may actually help in terms of transparency.”