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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
by Mc91 9y 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 9y agoYeah 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