October 08, 2011
Too big to fail
This timeline shows how we arrived at the situation where we now have just a few big banks controlling almost the entire financial sector.
(Via Balloon Juice.)
I am a theoretical physicist and currently Director of UCITE (University Center for Innovation in Teaching and Education) at Case Western Reserve University in Cleveland, Ohio. I am the author of three books: God vs. Darwin: The War Between Evolution and Creationism in the Classroom (2009), The Achievement Gap in US education: Canaries in the Mine (2005), and Quest for Truth: Scientific Progress and Religious Beliefs (2000). Disclaimer: The views expressed in this blog are my personal ones and are not those of UCITE or Case Western Reserve University. If you wish, you can send me an email by clicking here.
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Comments
It is somewhat alarming how the large banks seem to simply wipe out the competition. There has to be something wrong with the competition laws since choice and competition has been reduced and a few banks hold all of our cash!
At what gain for the consumer ...... a world recession and an unemployment rate of 10%!