The United States is suffering from a severe over-concentration of banking assets. Currently, 50 percent of all banking assets and deposits in America are held by just 10 banks. This has made those banks “too big to fail,” and it is widely believed that the government would, in a repeat of the massive Wall Street bailouts of 2008, once again commit billions in taxpayer dollars to ensure that these few banks do not fail. This over-concentration is more than just a threat to our nation’s economic stability. By crowding out America’s smaller community banks, it also represents a lost opportunity for widespread and stable economic growth within our economy. North...
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