4 ms·

>These huge banks have simply become way too big, and it serves no one's interest but their own. They have zero incentive to provide actual customer service any

>These huge banks have simply become way too big, and it serves no one's interest but their own. They have zero incentive to provide actual customer service anymore. There needs to be a massive restructuring of our system to allow smaller banks to thrive and provide actual competition. Thats not the plan though. Now that they have IMF'd almost the whole world, they have no one elses pie to take from... so they are turning inwards. In order to do this, they are murdering and executing [1](American Psycho reference, but lots of literal truth there too) their way to the top, but not just in banking... in all industries. (bayer-monsanto being a good example). What we need is anti-trust/anti-monopoly laws to actually be enforced... oh wait... the same bankers that need regulating basically own congress and many more. I'll never forget looking up my podunk Texas congressmans public financing and wonder why so many NY banks were donating to him. Until we find a way to start fixing congress (the closest to the people of the 3 branches) this will just happen again and again. [1]https://llwproductions.files.wordpress.com/2011/11/big-banks-mergers.jpg https://llwproductions.files.wordpress.com/2011/11/big-banks... Personally, after hunting terrorists for the government in my youth, I've come to the conclusion that bankers are the real terrorists. Financial terrorists.

Mc91 8y ago
Looking at that chart...unremarked is the 1991 $1.9 billion merger of Manufacturers Hanover with Chemical...it's more a commentary on the reality than the chart, a $1.9 billion bank merger doesn't make the cut as being important enough in the current post-Glass–Steagall "too big to fail" TARP banks...I interviewed for an IT role with the old Manny Hanny group within Chase Manhattan bank in the late 1990s...they were a bank buried within a larger bank, and soon to merge with JP Morgan and a host of other banks.
- arca_vorago 8y ago
  Yeah quite a lot of people don't understand the power of holding or just "financial services" companies in todays economy. They are quiet giants in most respects. For example, in the "147-corporations who rule the world paper"[1] I noticed number 13 was Franklin Resources Inc. Never heard of them, but apparently as a holding company they are one of the most powerful in the world... with many more like them. [1]https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf

Mc91 8y ago

Looking at that chart...unremarked is the 1991 $1.9 billion merger of Manufacturers Hanover with Chemical...it's more a commentary on the reality than the chart, a $1.9 billion bank merger doesn't make the cut as being important enough in the current post-Glass–Steagall "too big to fail" TARP banks...I interviewed for an IT role with the old Manny Hanny group within Chase Manhattan bank in the late 1990s...they were a bank buried within a larger bank, and soon to merge with JP Morgan and a host of other banks.

arca_vorago 8y ago
Yeah quite a lot of people don't understand the power of holding or just "financial services" companies in todays economy. They are quiet giants in most respects. For example, in the "147-corporations who rule the world paper"[1] I noticed number 13 was Franklin Resources Inc. Never heard of them, but apparently as a holding company they are one of the most powerful in the world... with many more like them. [1]https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf