Deutsche Bank (DB) CEO Josef Ackermann speaks up for the big banks: "The idea that we could run...

|About: Deutsche Bank AG (DB)|By:, SA News Editor

Deutsche Bank (DB) CEO Josef Ackermann speaks up for the big banks: "The idea that we could run modern, sophisticated, prosperous economies with a population of mid-sized savings banks is totally misguided." Clever rhetoric, Simon Johnson says, but there's no evidence that huge banks provide any social benefit. "When these same banks were much smaller ... the global economy functioned no worse than today."