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