Subprime fallout weakens argument that bigger is better

04/7/2008 | International Herald Tribune

Massive financial groups such as UBS and Citigroup are taking heat from advocates of breaking up the giants. Big banks have argued that their size allows for certain synergies, but the subprime meltdown shows that those same synergies can be toxic. "If you look at UBS and Citigroup here, there are similar problems here in terms of size and complexity," says Luqman Arnold, a UBS shareholder and former CEO.

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