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M&T CEO Robert Wilmers packs a punch in his annual letters to shareholders. Here are some of the highlights of this year's missive. (Image: Michael Chu)
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Big Banks' Bad Behavior

Hefty fines against large banks lead to public mistrust of banking and "to the average citizen … imply that the problem is getting worse." (Image: Bloomberg News)
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Pay Cuts

Big bank CEOs should take pay cuts and "end the party of their own volition." (Image: Bloomberg News)
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Rich Get Richer

"Our industry cannot ignore the fact that the growing divide between rich and poor … poses a threat to our democracy and social order." (Image: Thinkstock)
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Clinton's 'Middle America'

Bill Clinton once "said Al Gore and he came from towns where people knew when they were born and cared when they died. Many of M&T's communities are … more representative of the values of Middle America than of Wall Street or Hollywood." (Image: Bloomberg News)
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Self-Serving Accountants

"We have an accounting system that is too complicated to understand, confuses more than it resolves, and operates in a manner that has been beneficial mostly to itself." (Image: Thinkstock)
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New York Heavyweights

"Because the Wall Street juggernaut has tarnished the reputation of banking as a whole, it is difficult if not impossible for bankers … to plausibly play a leadership role today." (Image: Thinkstock)
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Taking a Pass

"Some of the very concerns that led to our skittish approach towards [buying 195 HSBC branches] have proven beneficial in the aftermath." (Image: Bloomberg News)
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