According to recent financial data from the 3rd quarter of 2010, six banks represent 64% of GDP. These are JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley. In 2006, before the financial crisis, that number was 55%. And fifteen years ago, it was 17%.
We exchange the days and moments of our lives for money,for experiences and information or for love or just for fun. That currency and how it is spent determines our path through this world. Our paths are each unique and yet they intersect. Sharing the experiences and learnings of life might make our lives easier. There are a million roads to take, a million mistakes to make. Maybe by sharing we'll all make better choices or at least new and different mistakes to learn from.
Friday, January 21, 2011
Concentration of Power
According to recent financial data from the 3rd quarter of 2010, six banks represent 64% of GDP. These are JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley. In 2006, before the financial crisis, that number was 55%. And fifteen years ago, it was 17%.
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