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To Big to Succeed
I really like this post by Barry Ritholtz over at The Big Picture. He has a great chart that shows how we went from around 18,000 banks in the 1980′s to around 8,000 today.
Hence, we end up with a few Superbanks. Ask yourself why Citibank (C), Bank of America (BAC), Washington Mutual (JPM), and Wachovia (WFC) got to be too large to manage. And once again, I am compelled to ask why it is in the country’s interest that 65% of the depository assets are held by only a handful of banks.
Source:
Too Few Banks, Too Many Giants
TBP, June 2, 2009
Barry Ritholtz
