Chris Johnson's Blog
From the Article: Fifteen years ago, the combined assets of our six biggest banks totaled 17% of our GDP. By 2006, that number was 55%. Right now, it stands at 63%. The big four have 50% of the market for mortgages and 67% of the market for credit cards. Five banks have over 95% of the market for over-the-counter derivatives. Three U.S. banks have over 40% of the global market for stock underwriting. Does it make sense that after every crisis precipitated by the Federal Reserve and the mega banks that control it, the Fed accumulates more power (new Consumer Protection Agency) and the top 5 or 6 banks accumulate more assets as hundreds of small banks go out of business? (link)

From the Article: Fifteen years ago, the combined assets of our six biggest banks totaled 17% of our GDP. By 2006, that number was 55%. Right now, it stands at 63%. The big four have 50% of the market for mortgages and 67% of the market for credit cards. Five banks have over 95% of the market for over-the-counter derivatives. Three U.S. banks have over 40% of the global market for stock underwriting. Does it make sense that after every crisis precipitated by the Federal Reserve and the mega banks that control it, the Fed accumulates more power (new Consumer Protection Agency) and the top 5 or 6 banks accumulate more assets as hundreds of small banks go out of business? (link)