Interesting graphic

kerfwango · Oct 11, 2011

kerfwango · Oct 11, 2011

Geez. Here's a link: <a href="http://karendecoster.com/wp-content/uploads/2011/10/banks.jpg" target="_blank">http://karendecoster.com/wp-content/uploads/2011/10/banks.jpg</a>

kerfwango · Oct 11, 2011

Click the image to zoom in.

GaReb770 · Oct 11, 2011

All the more reason we need to Occupy America from Wall Street to Atlanta and Charlotte.
 
U.S. banks had a heavy hand in causing the debacle the European Union is facing now. And eventually if not checked they will cause the downfall of the U.S.

merigayle · Oct 11, 2011

wow. that is a sobering graphic for sure.

gretriever · Oct 11, 2011

Isn't this sort of like Canada? I remember until recently they seemed to have maybe five or six banks that covered the whole country.

Mailbox Head · Oct 12, 2011

<div class="quote-container">Quote:
<div class="quote-block">Originally Posted by GaReb770 <a href="/t/75400/interesting-graphic#post_2016063"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border-bottom:0px solid;border-left:0px solid;border-top:0px solid;border-right:0px solid;"></a> All the more reason we need to Occupy America from Wall Street to Atlanta and Charlotte.
 
U.S. banks had a heavy hand in causing the debacle the European Union is facing now. And eventually if not checked they will cause the downfall of the U.S. 
</div>
</div>
 

They already tried once- like 3 or so years ago. Right now the few banks that are left have basically implicit insurance that regardless of what happens, they won't go down unless we all do. I can't completely share in the outrage against individual CEOs, because they're simply acting rationally in a flawed system. Since banks went from being privately to publicly owned, the job of CEOs has become to maximize shareholder value, and with the limit on downside risk provided by knowing the government has no choice but to step in and rescue the losers, the only rational action is to take on as much risk as possible.

jcumming · Oct 13, 2011

<div class="quote-container">Quote:
<div class="quote-block">Originally Posted by gretriever <a href="/t/75400/interesting-graphic#post_2016140"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border-bottom:0px solid;border-left:0px solid;border-top:0px solid;border-right:0px solid;"></a> Isn't this sort of like Canada? I remember until recently they seemed to have maybe five or six banks that covered the whole country.
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Yes, and two of them, RBC and TD seemed poised to enter the fray to be "last bank standing" in the US.
 
RBC sold off its branches in the US and will apparently try to buy out one of the last two when it gets to that point.

Tech Tee · Oct 13, 2011

<div class="quote-container" data-huddler-embed="/t/75400/interesting-graphic#post_2016262" data-huddler-embed-placeholder="false">Quote:
<div class="quote-block">Originally Posted by Mailbox Head <a href="/t/75400/interesting-graphic#post_2016262"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif"></a> 
They already tried once- like 3 or so years ago. Right now the few banks that are left have basically implicit insurance that regardless of what happens, they won't go down unless we all do. I can't completely share in the outrage against individual CEOs, because they're simply acting rationally in a flawed system. Since banks went from being privately to publicly owned, the job of CEOs has become to maximize shareholder value, and with the limit on downside risk provided by knowing the government has no choice but to step in and rescue the losers, the only rational action is to take on as much risk as possible. 
</div>
</div>
 
That's not totally true. The bank I work for was allowed to go bankrupt instead of getting additional tarp funds. Apparently we weren't "too big to fail", even though we were the largest small business lender in the country. 
The CEO (at that time) was a total asshole, screwed the pooch as it were by getting us into businesses we had no business being in. The guy who is there now seems to be a lot better, but, they're all ego maniacal jerks...one is just as bad as the other. 
We are crawling our way back.

Tech Tee · Oct 13, 2011

<div class="quote-container" data-huddler-embed="/t/75400/interesting-graphic#post_2016320" data-huddler-embed-placeholder="false">Quote:
<div class="quote-block">Originally Posted by jcumming <a href="/t/75400/interesting-graphic#post_2016320"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif"></a> Yes, and two of them, RBC and TD seemed poised to enter the fray to be "last bank standing" in the US.
 
RBC sold off its branches in the US and will apparently try to buy out one of the last two when it gets to that point.
 
</div>
</div>
 
How big is TD in other parts of the US (anyone else see them around)? Around here (South Jersey), they bought out a smaller bank (although it was one of the biggest in the area) and converted them all. I'm not sure, though, what their presence is in other states. 
I used to (20 years ago) bank there, but got pissed at them for some reason, and switched to another one right down the street, that was really local, only had a few branches, had nice employees, would call me if my balance was getting low, and all that. 
Well, they, of course, got bought out by a larger, less personal, conglomerate.

Grizzly · Oct 18, 2011

Yes, we have five (sometimes 6) major banks. Our current government wanted desperately to deregulate about 4 years ago but were prevented from doing so, and when the fact that they were regulated saved Canadian Bacon at the start of this depression they took it on themselves to trumpet the fact that regulation was GOOD! 
 
*sigh*
 
They couldn't have gotten into the mess that the US banks go into... here... but that doesn't prevent them from being stoopid overseas.
 
BTW, when are Goldman and Sachs and co going to be held accountable for the mess they made of Greece, Ireland, Portugal et al. "Oh, you just have to hide the truth a little..."

Interesting graphic

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