Too Important to Fail

The feds saved Goldman Sachs and other banks deemed ‘too big to fail,’ but Park National was left to swing in the wind.

By David Moberg

To the people who have worked with him, Mike Kelly is a contemporary, super-sized George Bailey, the community-oriented building and loan proprietor in the movie It's a Wonderful Life. In real life, unfortunately, the counterpart of the movie's money-grubbing Mr. Potter has pulled off "the [RETURN TO ARTICLE]

  • Reader Comments

     Page 1 of 1 pages

    Bank holding companies should be illegal. They were at one time. Concentration in commercial banking has been the consequence of the recent financial crisis. According to one analyst, “The past 15 years have shown unprecedented concentration in the US commercial banking space. In 1995, the top five banks had 11% deposit share; today they have nearly 40%.”  Three of the nation’s largest commercial banks, JP Morgan/Chase, Wells Fargo and Bank of America each exceed the 10% cap on the proportion of national deposits held. Along with this concentration comes concentration of the US economy itself as local banks are no longer available to fund local businesses and consumers.  The current lack of lending is evidence of the danger of bank concentration. The big banks are one of the big factors hindering the economic recovery. Banking regulation and the break up banking monopolies are needed now.

    United States Posted by cabdriverinchicago on Mar 9, 2010 at 3:40 PM

    hiiiiiiiiiiiiiiii

    India Posted by haniassy on Jun 16, 2010 at 2:42 AM

    hi


    whats up today

    India Posted by hanias on Jun 17, 2010 at 12:15 AM
     Page 1 of 1 pages

  • register a new account »Posting Security

    To participate in our forums, please register for a free account.
     

    Retreive lost password »