According to the Times the big banks are suffering from a brain drain as the best and the brightest, their work done at the failed banks, go on to other things:
Top bankers have been leaving Goldman Sachs, Morgan Stanley, Citigroup and others in rising numbers to join banks that do not face tighter regulation, including foreign banks, or start-up companies eager to build themselves into tomorrow’s financial powerhouses. Others are leaving because of culture clashes at merging companies, like Bank of America and Merrill Lynch, and still others are simply retiring early
If we allow a financial system to rise out of these ashes in which anyone doesn’t face tighter regulations, we will deserve the inevitable recurrence of this bubble and bust cycle.
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