Thousands of small banks will now disappear

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Pointgold

Keeps It Simple
FORTUNE -- Do we need to worry about Too Small to Survive?

Now that President Obama has been re-elected, analysts, consultants and dealmakers have turned from whether Dodd-Frank will be repealed to what it means for banks now that it's likely here to stay. The overwhelming conclusion: Thousands of small banks will soon disappear.

Emmett Daly, a Sandler O'Neill dealmaker who specializes in small banks, predicted at an industry conference put on by Mergermarket on Thursday that the number of banks in the U.S. would shrink to a few hundred. There are currently more than 7,000. Bill Egan, head of financial institutions investment banking at Bank of America Merrill Lynch, agreed, but said the weeding out process was likely to take more than a decade.

http://finance.fortune.cnn.com/2012/11/09/banks-disappear-obama/?iid=SF_F_River
 
Stargazer said:
FORTUNE -- Do we need to worry about Too Small to Survive?

Now that President Obama has been re-elected, analysts, consultants and dealmakers have turned from whether Dodd-Frank will be repealed to what it means for banks now that it's likely here to stay. The overwhelming conclusion: Thousands of small banks will soon disappear.

Emmett Daly, a Sandler O'Neill dealmaker who specializes in small banks, predicted at an industry conference put on by Mergermarket on Thursday that the number of banks in the U.S. would shrink to a few hundred. There are currently more than 7,000. Bill Egan, head of financial institutions investment banking at Bank of America Merrill Lynch, agreed, but said the weeding out process was likely to take more than a decade.

http://finance.fortune.cnn.com/2012/11/09/banks-disappear-obama/?iid=SF_F_River
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Of course. Anyone who knows anything could have predicted this. Why do you think the big banks didn't oppose it? They will be the beneficiaries of buying p these small bags and it only ensures that too big to fail is institutionalized.
 
Great news. More food-stamps and Obamaphones for the freshly unemployed.

With half the banks gone, the minority working class can forget it if they need a loan for anything.

Good times ahead!

Forward >>>>>>>>
 
Stargazer said:
Great news. More food-stamps and Obamaphones for the freshly unemployed.

With half the banks gone, the minority working class can forget it if they need a loan for anything.

Good times ahead!

Forward >>>>>>>>
Click to expand...

Your interpretation of the benefits of Dodd-Frank is fatally (politically) warped, but that's a common characteristic of conservative republicans.

Dodd-Frank is a good thing, regardless of how many futile attempts made to spin it otherwise.
 
Bijou said:
Your interpretation of the benefits of Dodd-Frank is fatally (politically) warped, but that's a common characteristic of conservative republicans.

Dodd-Frank is a good thing, regardless of how many futile attempts made to spin it otherwise.
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Wasn't the problem with the big banks?
 
Bijou said:
What about it? How does Dodd Frank tie in with your purported "problem"?
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Wasn't Dodd Frank designed to regulate big banks? Shutting half the banks in the country down isn't going to help anything, certainly not consumers and definitely not their employees.
 
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