3 ms·
> conglomeration of the many banks into the few we have today There are still thousands of banks in the USA. I dont really see why there should be more than 10
by rr808 3y ago
> conglomeration of the many banks into the few we have today
There are still thousands of banks in the USA. I dont really see why there should be more than 100. Canada has 5 big ones and a few dozen tiny ones. Same in UK and Australia.
- peter303 3y agoDeposit banks were banned from crossing state lines and investing in equities markets after the Great Depression. These limitations were removed in the 1990s.
- dalyons 3y agoIt’s not all roses - in Australia and Canada the few major banks operate in pseudo-cartel fashion. There’s few enough that they can effectively collude without doing it illegally.