This is great news for the US financial industry. The compromised, conflicted, and constrained "Berlin Walls" of "Investment Banking Inc." continue to fall, one by one.
Running a prop desk on the other side of your client businesses just won't make sense to anyone with a pulse and a ‘You Tube’. The transparency and accountability pants are going to finally be worn in this business. Today, is another great day for the “New Reality” of American Capitalism.