Just because they own a share of SPY or XLF doesn't mean they 'own banks' in the literal sense. Or perhaps you are a scion of some super secretive family who owns multiple banks... (secretive because I can't really don't think that, outside of middle eastern princes, there are families who are major owners of more than one bank anymore)... but I doubt it.
OK my family started a lot of banks. They only own shares now if that. But it is what we do. So why is it so unrealistic?
Had you said, I have a relative who started a bank... sure - why not. Good for him/her. But, your relatives started "a lot of banks"? Why on earth would they do that? Is your family particularly fond of doing the same mountain of paper work over and over again while paying exorbitant legal fees over and over again to be able to do the same thing over and over again under the same regulations?
Different members started different banks and they were broken up through things like Glass Steagall and other monopoly legislation.
Sigh... you know, it doesn't really count if you are in some way related to JP Morgan and his sons, you know.... But by all means, go ahead and start a bank;
Why does it not count. I think it might be through J S Morgan anyway although I could be wrong. Thank you for your permission. I don't know what I would do without it.
Because having a distant relative who founded banks over a century ago has absolutely no relation to YOUR ability to start a bank in 2011. I'm not sure how this is not apparent to you.
You clearly don't know that is not just J P Morgan. Morgan Stanley started nearly a century after J S Morgan that became J P Morgan. Morgan Grenfell, Morgan Asset Guarantee Trust, Morgan Compagnie, Morgan Drexel and many others. I didn't realise myself that pretty much every bank with Morgan in it is the same family in one way or another. It is not just J P's family either other members of J S's family J P's brothers and cousins and nephews etc.
What does this have anything to do with YOUR ability to start a bank? I'm distantly related to several long extinct lines of dukes and princes - does that improve my chance of establishing a dukedom in 2011? You are a strange fella.