"The headroom there isn’t unlimited — expect it to show up as fee pressure and backlogs and less ability to quickly resolve transaction storms....
"Expect BlackRock to turn around and shill this to banks, and in particular big banks, such that JPMorgan, for example, can itself turn around...
"A study of the hill tribes of Southeast Asia titled “The Art Of Not Being Governed” provided a fresh take. The author, James C....