Official: financial crises favor banking cartels

According to chapter 20 conclusions of the US Financial Crisis Inquiry Commission:

“As a result of the rescues and consolidation of financial institutions through failures and mergers during the crisis, the U.S. financial sector is now more concentrated than ever in the hands of a few very large, systemically significant institutions.”

http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_chapter20.pdf

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Anonymous17/11/13 14:39
I doubt it very much. I rather believe that some firms as Goldman Sachs are and were the leaders and that the financial melt down has just made then even stronger with respect to their influence on governments. They are very likely now in a position were they can exploit the fragile state of its competition to use it to their advantage.
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