Of course mega banks win when mid-sized banks such as #SVB fail
#BofA gets more than $15 billion in deposits after SVB collapse
https://www.bloomberg.com/news/articles/2023-03-15/bofa-gets-more-than-15-billion-in-deposits-after-svb-failure
It is one of the systemic banks.
Too Big To Fail. Now it is even more big with the added 15 billion.
We need to lower the systemic risk of these banks. Break them up into manageable entities.
Create laws, that make aggregation on tjis scale impossible.
https://www.bankrate.com/banking/biggest-banks-in-america/
The 15 largest banks in the United States (U.S.) hold a combined total of $13.4 trillion in assets as of Dec. 31, 2022.
This was one of the big criticisms of Dodd-Frank, that it put too much power in the hands of big banks at the expense of the small ones.
We went there anyway, and the folks pushing the law celebrated.
So here we are.
