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Old 10-25-2011, 05:06 PM
 
30,401 posts, read 34,267,504 times
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Quote:
Originally Posted by Escort Rider View Post
According to an article on the front page of the business section of today's Los Angeles Times, Bank of America has lost its number one rank in total assets to JPMorgan Chase. "It marks the end of an era for a bank known for a near-obsessive zeal for acquisitions and growth, and the start of a new chapter in which the bank hopes to slim down to raise profitability", according to the article.
Big deal. They're losing assets to another greedy megabank. The big banks are all the same.
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Old 10-25-2011, 05:07 PM
 
30,401 posts, read 34,267,504 times
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Quote:
Originally Posted by CaptainHastings View Post
Yes, if the banking industry indeed operated in a "free market", things would happen as you suggest.

However, banking industry has an "Oligopoly" where a few big banks are in control. The sole reason why other banks are not following BOA's lead is because people are shedding their apathy and taking a stand.
^^Exactly right on all counts^^^
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Old 10-29-2011, 02:17 PM
 
2,515 posts, read 1,909,247 times
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Originally Posted by Traeger View Post
Let the free market rule, If they have made bad business choices then the ride down will continue.
Tell that to the plunge protection team and their presidential mandate to manipulate the market.
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