Too Big to Fail

Sep 29, 2008 13:28


Citigroup buys Wachovia
:

The deal further concentrates Americans’ bank deposits in the hands of three banks: Bank of America, JPMorgan Chase and Citigroup will control more than 30 percent of the industry’s deposits.This just means that in a year or two, when one or all of these guys go under, we'll have no choice but to bail them out. If we don' ( Read more... )

economics, money

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Comments 4

allanc September 29 2008, 17:48:25 UTC
Pshaw.

I'm sure they'll have all merged by then.

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cheerfulstoic September 29 2008, 19:42:22 UTC
MEGABANK: All ur munnies r belong to us!

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allanc September 29 2008, 20:13:23 UTC

... )

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cheerfulstoic September 29 2008, 22:35:19 UTC
Pretty!

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