In the past 20 years, the 37 banks listed on this chart merged into and became 4 banks. This is astonishing and scary. Do you every wonder why banks got “too big to fail?” This chart sums it up. If any of these 4 mega banks went under, it would take down the US and World economy. These banks have been immune to consequences of their actions, whether right, wrong, or illegal. The world economy is held in the hands of these few banks and the decisions they make. It will be interesting to see if the next US president does anything to decentralize the US banking system.
There is a great HBO movie called “Too Big To Fail” that does a very interesting and entertaining job of explaining how this occurred. Here is a link to this movie.