In fact, Professor Nie Fengyang , Director of the Division of International Information at the Chinese Academy of Agricultural Sciences, told me that she was confronted with that very question at a presentation she gave recently to a group of Chinese bank executives.
Bank of America CEO Brian Moynihan pleaded his case on Monday in a highly anticipated presentation at the Barclays Capital Global Financial Services Conference and while he did not announce any big news, he seems to have impressed investors.
During a presentation in New York on Tuesday, Morgan Chief Philip Purcell acknowledged that big morale problems were affecting the bank's investment banking and equities divisions--whose cosseted bankers contribute 20% to 25% of profits--and that senior management was spending "an awful lot" of time on the issue.