predatory the industry has become, financial services industry banks

"how predatory the industry has become, and how the incumbents are pathologically unable to see that (I may be being charitable in taking their wounded-sounding protests at face value)
Last week, he stirred up a hornet’s nest by suggesting the unthinkable, namely, that the financial services industry needs to shrink. In reality, quite a few people have made that observation, but anyone in authority who dares say such a thing out loud must be beaten back. ... The financial services sector is even more important to England than to the US, but they also have been longer at the empire and banking game than we have, and as a result, at least some recognize the importance of having sound institutional structures. We have completely lost the plot in the US. While Timothy Geithner is giving lip service to having banks draw up resolution plans, every measure the Treasury has proposed had either been bank-friendly from the get-go, mere posturing, or half hearted and easily beaten back. The Turner discussion of the need to simplify legal structures reveals what a serious version of wind-down plan would need to include, and it is a virtual certainty nothing of the sort will be required in the US. " Lord Turner backed international moves to force the big, systemically important banks to draw up “living wills”, wind-down plans in the event they fail. http://www.nakedcapitalism.com/2009/09/fsas-lord-turner-tells-banks-to-get-a-death-wish.html
But the chairman of the Financial Services Authority said this drive would also have the benefit of unravelling banks’ structural complexity used to minimise tax….
Lawyers predicted that banks would resist fiercely any wholesale restructuring that could cost them hundreds of millions of dollars. They also warned that any such moves would be extremely hard to implement.
Louise Higginbottom, head of tax at Norton Rose, the law firm, said: “Many banks operate through a complex series of subsidiaries and branches.