I know this isn't exactly politics per se, but I just found it interesting how the banks are consolidating all of smaller banks to have a sort of running monopoly on the industry. Well without further ado, here is the graphic of bank consolidation since '96.
They're giants and they still fail . Kind of says it all about the financial system . People mistook banks for piggy banks with unlimited cash when in reality they are way different .
They're invested just like the rest of us. There is no tangible levels of real, cash money in any given bank.
They invested you got that right but the consumer consumed and the money went outside the US economic ecosystem . While Citi invested in other banks the average consumer invested unwillingly in China's new aircraft carrier , India's future nuclear ballistic submarine and weapons for The Haqqani Network .
The ING Group (Euronext: INGA, NYSE: ING) is a global financial institution offering retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks.[2] ING is an abbreviation for Internationale Nederlanden Groep (English: International Netherlands Group). http://en.wikipedia.org/wiki/ING_Group The House of Orange-Nassau (in Dutch: Huis van Oranje-Nassau), a branch of the European House of Nassau, has played a central role in the political life of the Netherlands — and at times in Europe — since William I of Orange (also known as "William the Silent" and "Father of the Fatherland") organized the Dutch revolt against Spanish rule, which after the Eighty Years' War led to an independent Dutch state. http://en.wikipedia.org/wiki/House_of_Orange-Nassau The House of Nassau is a diversified aristocratic dynasty in Europe. It is named after the lordship associated with Nassau Castle, located in present-day Nassau, Rhineland-Palatinate, Germany. The lords of Nassau were originally titled Count of Nassau, then elevated to the princely class as princely counts. At the end of the Holy Roman Empire, they proclaimed themselves Dukes of Nassau. http://en.wikipedia.org/wiki/House_of_Nassau Interesting, just learned why the Dutch wear their orange shirts during soccer championships. My opinion: Controlled by the Dutch royals related to the other royals of Europe. Puppets to the elite?
Thanks Blogmaster. The reason I asked, is I've been doing business at another bank for years, it's not a well-known one. But they've started with new fees that I don't care to pay (it's not B of A). It looks like with ING they don't charge all these fees, and pay interest even on simple checking accounts. I read your Wikipedia link and did find something disturbing... Isn't Capital One the credit card with the really bad reputation?
Yes and all of these major western banks are of course connected. It is just that to the outside they appear to be different entities. The only ones separate might be a few Sharia Law type of banks and also I remember that when I was in Bosnia (Muslim country) I was not able to pay with credit card anywhere and my ATM card was unusable because the only way to access my account would have been with a maximum of 4 digits for my password, while my bank account's ATM card is set up with a password that has 6 digits. They also didn't have Western Union there I believe, maybe it was moneygram though. Either way, there was a very clear attempt to disconnect from the Western banking system blatantly visible.
ING failed to impose themselves as a leader in the US . In Europe they rock but in the US they failed . Just the 2cents given by a long time ING client .