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Over the past decade, though, reality took a detour from Philippon's theory. Corporate America's need for outside financing fell, but the financial sector refused to shrink; it pumped out ever riskier products until the system nearly collapsed. Why the refusal? Maybe the pay was too good. Philippon and...

Author: /time Magazine | Title: Are Bankers Worth Their Big Paychecks? | 11/9/2009 | See Source »

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