Lest we forget where all the banks went, here is a graphic from Casey Research that traces the mergers and acquisitions of the Big 4 banks. I recall back in the ’80s, a broker friend of mine had a tombstone of some deal their company did ten years before. It listed all the participating brokerage companies that participated in the offering. Over the years he had drawn a line through the investment houses as they disappeared through M&A or failure. About two-thirds were gone. Nothing new I guess.
Too Big To Fail
Hat tip to Mike Kennedy
[...] http://dailycapitalist.com By Jeff Harding, on October 9th, [...]
One should investigate what happened to those in charge of those banks that had to be merged to be saved. They got paid like entrepreneurs and if they failed they should have to contribute with their personal wealth as well like an entrepreneur is facing downside risks as well.
The fact that they are probably some of the wealthiest guys today shows the corruption presently at play.
Excellent chart, Mr Harding! Thank you.
Too big, too fail…