The only banks bailed out are the few huge ones. But all the regional and independent banks are being left to collapse. Today marking over 100 gone. So I wonder if in a few years there is only going to be one or two big superbanks when they remaining few big ones merge.
Probably more than one or two, more like 5 or 6 I expect. Too big too fail is a winning strategy, so it's a race to the top. The bigger you are, the more likely that you'll be bailed out when all your risky bets hit the fan. When the government tries to "fix" free markets, they get fixed all right.
When there are 5 burger joints on the same street or in the same area and one fails, nobody seems to care. When there are 5 banks on the same street or in the same area and one fails, suddenly everyone panics. The banks are still a business and should be allowed to fail. I'm tired of seeing 5 banks in the same area but when I need to find a bank, I have to drive all across town because there aren't any in my area. At the same time, I think the ones that got bailed out will use a large portion of their assets to scoop up failed banks that go bankrupt at cheap prices. Cheaper than building your own branch in certain areas you aren't in, with a built in clientele.
We have progressed from a church on every corner to a bar on every corner to a gas station on every corner then a bank on every corner. A bar on every corner was probably better than a bank.
Bank of America, Chase, and Goldman Sachs will be the only ones left standing soon. Itâs just a matter of time before they are controlling your whole life.
All too naive!!! There will be one bank around the country - it will be the "World Bank" and it will have branches throughout the world! -gastropod
Probably make it easier for some future left-leaning government to nationalize the industry this way.
and then when we go to war only one delete button needs to be pushed to bring everything down around us +1