The Fed's Plan for Bank Consolidation

"I don't think this is a plan for bank consolidation," he says. "There are better ways to do it, right? And there's really been a one way stream of consolidation in the US." In most other countries, you have like 15 or 20 banks and not 4,000 as U.S. has now. The old days were when bankers knew who was risk-averse and who wasn't; they paid back what they lent with both interest and principle. 'It's how the system works'

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