Barclays & BofA Heads Say Banks Aren’t Too Big

This CNBC report from the World Economic Forum in Davos this week has some comments worth calling out from Bank of America CEO Brian Moynihan and Barclays President Bob Diamond. Highlights from each below:

“Bank of America is not too big. Big by definition is not the question, it’s a question of how you conduct your activities, how you manage activities and how you manage risk.”

“I think the role that government is trying to play is to make sure the institutions remain stable through all kinds of crises and I think that’s an absolutely appropriate role for the government to play.”

BOB DIAMOND, Barclays President
“There is absolutely no evidence…to say big is bad or big is riskier. Banks aren’t big because they want to be big, banks are big because their customers need them to be big.”