I am not so naïve as to think that all potential conflicts can or should be expunged from banking or other businesses.  But neither am I so naïve as to think that, even with the best efforts of boards and management, so-called Chinese Walls can remain impermeable against the pressures to seek maximum profit and personal remuneration.

Paul A. Volcker. Testimony Before the Committee on Banking, Housing and Urban Affairs. February 2, 2010

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