In conflict with its own management team, Goldman analysts conclude structural, not cyclical factors are behind the poor performance of the U.S. banking sector. More than half of the top 25 U.S. banks aren't earning enough to cover their cost of capital, says the team, which recommends the big players improve returns by shrinking business lines and instead using the money to buy back shares.
In conflict with its own management team, Goldman analysts conclude structural, not cyclical...
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