Too Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets
source: http://theeconomiccollapseblog.com/archives/too-big-to-fail-10-banks-own-77-percent-of-all-u...
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- Revelation1217
- added this
http://theeconomiccollapseblog.com/archives/too-big-to-fail-10-banks-...
Back during the financial crisis of 2008, the American people were told that the largest banks in the United States were "too big to fail" and that was why it was necessary for the federal government to step in and bail them out. The idea was that if several of our biggest banks collapsed at the same time the financial system would not be strong enough to keep things going and economic activity all across America would simply come to a standstill. Congress was told that if the "too big to fail" banks did not receive bailouts that there would be chaos in the streets and this country would plunge into another Great Depression. Since that time, however, essentially no efforts have been made to decentralize the U.S. banking system. Instead, the "too big to fail" banks just keep getting larger and larger and larger. Back in 2002, the top 10 banks controlled 55 percent of all U.S. banking assets. Today, the top 10 banks control 77 percent of all U.S. banking assets. Unfortunately, these giant banks are also colossal mountains of risk, debt and leverage. They are incredibly unstable and they could start coming apart again at any time. None of the major problems that caused the crash of 2008 have been fixed. In fact, the U.S. banking system is more centralized and more vulnerable today than it ever has been before.-
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asocial
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Nationalize the banking system, NOW!!! Before it's too late. Oh, sorry, it's already too late.
- 1 year ago
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asocial
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Vic_Romano
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And as more money and political influence gets concentrated in their hands, they'll be too big to jail as well.
- 1 year ago
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Vic_Romano
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Schnookums
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These banks will continue to gain power and strength as long as we keep electing politicians that stand idly by and let it happen. One or two good choices in the whole of the country isn't going to cut it......voters need to advance people out of the primary process that are dedicated to real change. It's our only (peaceful) hope.
- 1 year ago
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Schnookums
