S.B.: interesting graphic showing the concentration of financial power into fewer and fewer banks. Certainly THIS can't be good for innovation in the economy or even just the financial sector?
J.L.: *yoink* I knew cats were evil
B.R.: Excellent graphic, it really adds perspective to the argument for deregulating the financial sector. If competition inspires innovation, it's probably best having those four entities as the only ones competing, they have a proven track record of putting American's best interests first. Let's fix this economy with new jobs! More jobs! More money! Buy stuff you can't afford! Hurray for usur...I mean credit!
L.B.: Two words: credit union.
Me: Hmmm, I wonder how many of these got bailed out...
Me: By the way, Travelers is no longer a part of CITI group, been that way for years.
R.B.: Granted I think this source is kind of dated, the following biggest banks from here were bailed out:
Citi Bank - $25 bil
Wells Fargo - $25 bil
JP Morgan - 25 bil (has since paid back the loan)
Bank of America - $15 bil (has since paid back the loan)
Me: So we can conclude, then, that these four banks are hand-picked by the government?
P.H.:handpicked by the government? Uh, yeah...NO. Not even close.
Me: What else is a bailout? Some institutions are deemed worthy of government largess, others not. And now we are left with the four winners picked by government, enhanced at taxpayer expense, which are now poised to really begin taking advantage of us.
By the way, do you have anything like a rebuttal available? Or is it capitalism's fault somehow? Your rudimentary denial brings no value to the conversation.
P.H.: Neither are your comments
Me: No one asked you to read them. Typical leftist.
P.H.: You're right! (Yawn) time to turn the channel...
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