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Big Banks Need to Broken Up

A

Anonymous

Guest
Montana Congressman Dennis Rehberg:
Last fall's TARP law aimed at freeing up lending hasn't worked, Rehberg said.

"The bigger banks are hoarding the money. That wasn't the intent. The intent was to free up the credit," he said.

Big banks considered "too big to fail," need to be broken up and bankers who broke laws and helped create this crisis should be punished, he said.

"I fall in the category of 'throw the bums in jail,' " Rehberg said, but he added that the country can never eliminate greed through legislation.


While I agree with Rehberg on this- I have to ask one question- where was he and GW when for 8 years we saw little or no enforcement of the anti-trust laws- and some of the greatest integration/consolidation of the Big Corporates in the history of the country :???:

Maybe they need to take some advice from Teddy:
I believe in corporations. They are indispensable instruments of our modern civilization; but I believe that they should be so supervised and so regulated that they shall act for the interest of the community as a whole.
~Theodore Roosevelt
 

Mike

Well-known member
Below is the merger history of just one large bank, but a realistic history of just how the banking buy-outs and megers have gone down. If you will note, most of the acquisitions were done in the 1990's.

Sucks to be you, huh? :roll:


Listed below are the acquisitions made by Compass Bancshares since 1987:

TEXAS
Date Institution Assets (Million)
03/24/2006 TexasBanc Holding Co., Fort Worth 1,700
10/20/1999 Hartland Bank, Austin 300
08/03/1998 Hill Country Bank, Austin 109
02/09/1998 Fidelity Resources Company, Dallas 335
01/29/1998 First University Corp., Houston 68
07/15/1997 Central Texas Bancorp Inc.,Waco 207
04/17/1997 Greater Brazos Valley Bancorp Inc., Bryan.College Station 58
03/13/1997 Bank One, Crosby 28
03/12/1997 Horizon Bancorp Inc., Austin 154
10/24/1996 ProBank, Houston 61
09/27/1996 Texas American Bank, San Antonio 65
09/06/1996 Coastal Banc ssb, San Antonio 57**
07/16/1996 Royall Financial Corporation, Palestine 109
05/17/1996 Peoples Bancshares Inc., Belton 136
04/19/1996 Post Oak Bank, Houston 323
04/11/1996 Equitable BankShares Inc., Dallas 184
02/01/1996 Flower Mound Bancshares Inc., 46
03/07/1995 Southwest Bankers Inc., San Antonio 142
10/01/1994 First Heights Bank fsb, Houston 870**
05/05/1994 Security Bank N.A., Houston 76
12/03/1993 Spring National Bank, Spring 75
01/19/1993 Cornerstone Bancshares, Dallas 239
12/22/1992 FWNB Bancshares Inc., Carrollton 161
10/28/1992 City National Bancshares, Carrollton 62
06/18/1992 Interstate Bancshares Inc., Houston 66
12/11/1991 Ameriway Bank N.A., Houston 40
07/31/1991 Promenade Bancshares, Richardson 170
05/09/1991 Gleneagles National Bank, Plano 20
05/09/1991 Bank of Las Colinas N.A., Irving 30
03/28/1991 River Oaks Bancshares, Houston 427
01/31/1991 Plaza National Bank, Dallas 50
08/30/1990 First Bank of Plano, Plano 9
06/14/1990 Willow Bend National Bank, Plano 68
05/24/1990 Memorial Bank N.A., Houston 75
04/26/1990 Signature Bank N.A., Dallas 22
11/10/1989 City National Bank, Plano 82
05/14/1989 Westside National Bank, Houston 37
02/29/1988 Weslayan Bancshares Inc., Houston 47
02/26/1987 First National Bank of Crosby, Crosby 8

FLORIDA
Date Institution Assets (Million)
01/13/1998 G.S.B. Investments Inc., Gainesville 213
01/15/1997 Enterprise National Bank, Jacksonville 171
08/23/1996 CFB Bancorp Inc., Jacksonville 302
05/12/1994 Anchor Federal Savings Bank, Callahan, Jacksonville Beach, St. Augustine 31**
01/27/1994 1st Performance National Bank, Jacksonville 278
10/21/1993 The Peoples Holding Company, Inc., Ft. Walton Beach 43
10/14/1993 First Federal Savings Bank of Northwest Florida, Ft. Walton Beach 101
07/12/1991 Citizens & Builders Federal Savings Bank, Pensacola 39

ARIZONA
Date Institution Assets (Million)
07/17/2000 Founders Bank of Arizona 390
04/19/1999 Norwest/Wells Fargo Banking Offices, Phoenix 384**
12/15/1998 Arizona Bank, Tucson 805

NEW MEXICO
Date Institution Assets (Million)
01/13/2000 Western Bancshares, Inc., Albuquerque 305

COLORADO
Date Institution Assets (Million)
01/04/2001 FirsTier Corporation 900
04/03/2000 MegaBank Financial Corporation, Denver 340
 

Mike

Well-known member
You're much too easy.
:lol:

Bank mergers and banking structure in the United States, 1980-98
Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Stephen A. Rhoades
Abstract

The U.S. banking industry experienced a sustained and unprecedented merger movement from 1980 to 1998. During that period, approximately 8,000 bank mergers occurred, involving about $2.4 trillion in acquired assets. The 1990s, especially 1994-98, was a period of numerous large bank mergers, including several that were among the largest in U.S. banking history. This study describes various aspects of that bank merger activity and some of the changes in U.S. banking structure and performance that took place during 1980-98. With respect to bank merger activity, the study examines the number and asset size of the acquiring and acquired banks, by year and state; the identities and sizes of the parties involved in large mergers; the types of mergers (horizontal and market extension), markets (urban and rural), and corporate form of the acquirers (independent banks and bank holding companies); and the number of mergers and related assets approved by each federal bank regulator. With respect to U.S. banking structure and performance, the study examines the change in the number of banks and offices, the number of automated teller machines (ATMs) and ATM transactions, nationwide and local market banking concentration, and bank profits and stock prices. The study found that there was a very large decline in the number of banks and banking organizations from 1980 to 1998. Merger activity remained at a high level throughout most of the period. Nevertheless, the number of banking offices continued to grow despite the large decline in the number of banks and the burgeoning of ATMs. Concentration of U.S. bank deposits among the largest banks increased greatly, especially from 1994 to 1998, when a number of exceptionally large mergers occurred. Concentration increased substantially in many local banking markets, especially in large metropolitan areas, where concentration tended to be relatively low. Initial statistical tests indicate that bank mergers and a decline in the number of banks have played a role in increasing local market concentration. At the same time, the study suggests that "switching costs"--that is, the costs customers incur to change banks--are an increasingly important characteristic of retail banking. Because bank competition within local market areas directly affects retail customers, any trends toward increasing concentration and higher switching costs suggest that antitrust laws may become a constraint on more mergers than in the past. These tendencies suggest that divestitures will likely become a public policy remedy that will be used with increasing frequency.
 

Mike

Well-known member
While you're at it, read this from 1996....................... :lol: :lol:

http://www.dallasfed.org/banking/fis/fis9602.pdf
 

Trinity man

Well-known member
Mike said:
Below is the merger history of just one large bank, but a realistic history of just how the banking buy-outs and megers have gone down. If you will note, most of the acquisitions were done in the 1990's.

Sucks to be you, huh? :roll:


Listed below are the acquisitions made by Compass Bancshares since 1987:

TEXAS
Date Institution Assets (Million)
03/24/2006 TexasBanc Holding Co., Fort Worth 1,700
10/20/1999 Hartland Bank, Austin 300
08/03/1998 Hill Country Bank, Austin 109
02/09/1998 Fidelity Resources Company, Dallas 335
01/29/1998 First University Corp., Houston 68
07/15/1997 Central Texas Bancorp Inc.,Waco 207
04/17/1997 Greater Brazos Valley Bancorp Inc., Bryan.College Station 58
03/13/1997 Bank One, Crosby 28
03/12/1997 Horizon Bancorp Inc., Austin 154
10/24/1996 ProBank, Houston 61
09/27/1996 Texas American Bank, San Antonio 65
09/06/1996 Coastal Banc ssb, San Antonio 57**
07/16/1996 Royall Financial Corporation, Palestine 109
05/17/1996 Peoples Bancshares Inc., Belton 136
04/19/1996 Post Oak Bank, Houston 323
04/11/1996 Equitable BankShares Inc., Dallas 184
02/01/1996 Flower Mound Bancshares Inc., 46
03/07/1995 Southwest Bankers Inc., San Antonio 142
10/01/1994 First Heights Bank fsb, Houston 870**
05/05/1994 Security Bank N.A., Houston 76
12/03/1993 Spring National Bank, Spring 75
01/19/1993 Cornerstone Bancshares, Dallas 239
12/22/1992 FWNB Bancshares Inc., Carrollton 161
10/28/1992 City National Bancshares, Carrollton 62
06/18/1992 Interstate Bancshares Inc., Houston 66
12/11/1991 Ameriway Bank N.A., Houston 40
07/31/1991 Promenade Bancshares, Richardson 170
05/09/1991 Gleneagles National Bank, Plano 20
05/09/1991 Bank of Las Colinas N.A., Irving 30
03/28/1991 River Oaks Bancshares, Houston 427
01/31/1991 Plaza National Bank, Dallas 50
08/30/1990 First Bank of Plano, Plano 9
06/14/1990 Willow Bend National Bank, Plano 68
05/24/1990 Memorial Bank N.A., Houston 75
04/26/1990 Signature Bank N.A., Dallas 22
11/10/1989 City National Bank, Plano 82
05/14/1989 Westside National Bank, Houston 37
02/29/1988 Weslayan Bancshares Inc., Houston 47
02/26/1987 First National Bank of Crosby, Crosby 8

FLORIDA
Date Institution Assets (Million)
01/13/1998 G.S.B. Investments Inc., Gainesville 213
01/15/1997 Enterprise National Bank, Jacksonville 171
08/23/1996 CFB Bancorp Inc., Jacksonville 302
05/12/1994 Anchor Federal Savings Bank, Callahan, Jacksonville Beach, St. Augustine 31**
01/27/1994 1st Performance National Bank, Jacksonville 278
10/21/1993 The Peoples Holding Company, Inc., Ft. Walton Beach 43
10/14/1993 First Federal Savings Bank of Northwest Florida, Ft. Walton Beach 101
07/12/1991 Citizens & Builders Federal Savings Bank, Pensacola 39

ARIZONA
Date Institution Assets (Million)
07/17/2000 Founders Bank of Arizona 390
04/19/1999 Norwest/Wells Fargo Banking Offices, Phoenix 384**
12/15/1998 Arizona Bank, Tucson 805

NEW MEXICO
Date Institution Assets (Million)
01/13/2000 Western Bancshares, Inc., Albuquerque 305

COLORADO
Date Institution Assets (Million)
01/04/2001 FirsTier Corporation 900
04/03/2000 MegaBank Financial Corporation, Denver 340

Where did you get this list from?
 

Tex

Well-known member
To me it doesn't matter when the banks merged, any of them who are taking money from taxpayers need to divest the banks they bought (sell off) before they take the money and it really doesn't matter to me if they lose money on selling off these banks. Taking of taxpayer money should wipe out all shareholder interests in the bank and strict limits on compensation should be in play even if some of the top people (also called talent which could be argued) leave those banks.

I would say the last two presidents have been failures when it comes to selling out the interests of democracy to the interests of money.
 

Mike

Well-known member
Trinity man said:
Mike said:
Below is the merger history of just one large bank, but a realistic history of just how the banking buy-outs and megers have gone down. If you will note, most of the acquisitions were done in the 1990's.

Sucks to be you, huh? :roll:


Listed below are the acquisitions made by Compass Bancshares since 1987:

TEXAS
Date Institution Assets (Million)
03/24/2006 TexasBanc Holding Co., Fort Worth 1,700
10/20/1999 Hartland Bank, Austin 300
08/03/1998 Hill Country Bank, Austin 109
02/09/1998 Fidelity Resources Company, Dallas 335
01/29/1998 First University Corp., Houston 68
07/15/1997 Central Texas Bancorp Inc.,Waco 207
04/17/1997 Greater Brazos Valley Bancorp Inc., Bryan.College Station 58
03/13/1997 Bank One, Crosby 28
03/12/1997 Horizon Bancorp Inc., Austin 154
10/24/1996 ProBank, Houston 61
09/27/1996 Texas American Bank, San Antonio 65
09/06/1996 Coastal Banc ssb, San Antonio 57**
07/16/1996 Royall Financial Corporation, Palestine 109
05/17/1996 Peoples Bancshares Inc., Belton 136
04/19/1996 Post Oak Bank, Houston 323
04/11/1996 Equitable BankShares Inc., Dallas 184
02/01/1996 Flower Mound Bancshares Inc., 46
03/07/1995 Southwest Bankers Inc., San Antonio 142
10/01/1994 First Heights Bank fsb, Houston 870**
05/05/1994 Security Bank N.A., Houston 76
12/03/1993 Spring National Bank, Spring 75
01/19/1993 Cornerstone Bancshares, Dallas 239
12/22/1992 FWNB Bancshares Inc., Carrollton 161
10/28/1992 City National Bancshares, Carrollton 62
06/18/1992 Interstate Bancshares Inc., Houston 66
12/11/1991 Ameriway Bank N.A., Houston 40
07/31/1991 Promenade Bancshares, Richardson 170
05/09/1991 Gleneagles National Bank, Plano 20
05/09/1991 Bank of Las Colinas N.A., Irving 30
03/28/1991 River Oaks Bancshares, Houston 427
01/31/1991 Plaza National Bank, Dallas 50
08/30/1990 First Bank of Plano, Plano 9
06/14/1990 Willow Bend National Bank, Plano 68
05/24/1990 Memorial Bank N.A., Houston 75
04/26/1990 Signature Bank N.A., Dallas 22
11/10/1989 City National Bank, Plano 82
05/14/1989 Westside National Bank, Houston 37
02/29/1988 Weslayan Bancshares Inc., Houston 47
02/26/1987 First National Bank of Crosby, Crosby 8

FLORIDA
Date Institution Assets (Million)
01/13/1998 G.S.B. Investments Inc., Gainesville 213
01/15/1997 Enterprise National Bank, Jacksonville 171
08/23/1996 CFB Bancorp Inc., Jacksonville 302
05/12/1994 Anchor Federal Savings Bank, Callahan, Jacksonville Beach, St. Augustine 31**
01/27/1994 1st Performance National Bank, Jacksonville 278
10/21/1993 The Peoples Holding Company, Inc., Ft. Walton Beach 43
10/14/1993 First Federal Savings Bank of Northwest Florida, Ft. Walton Beach 101
07/12/1991 Citizens & Builders Federal Savings Bank, Pensacola 39

ARIZONA
Date Institution Assets (Million)
07/17/2000 Founders Bank of Arizona 390
04/19/1999 Norwest/Wells Fargo Banking Offices, Phoenix 384**
12/15/1998 Arizona Bank, Tucson 805

NEW MEXICO
Date Institution Assets (Million)
01/13/2000 Western Bancshares, Inc., Albuquerque 305

COLORADO
Date Institution Assets (Million)
01/04/2001 FirsTier Corporation 900
04/03/2000 MegaBank Financial Corporation, Denver 340

Where did you get this list from?

http://phx.corporate-ir.net/phoenix.zhtml?c=77589&p=irol-mergeracquisition

To me it doesn't matter when the banks merged

Doesn't really to me either but when OT posted this:
I have to ask one question- where was he and GW when for 8 years we saw little or no enforcement of the anti-trust laws- and some of the greatest integration/consolidation of the Big Corporates in the history of the country
I had to laugh. His "Bush Blindness" is amazing.

I agree that they should be broken up too. They are simply not "too big to fail".

The Compass Bank above has since been bought out by a Spanish company, I believe.

OT will learn one day that all is not Bush's fault. Maybe some, but not all. :roll:
 

jigs

Well-known member
I love the phrase "too big to fail'

reminds me of another famous quote

Titanic is so big,God himself could not sink her"
 
A

Anonymous

Guest
Mike- you forgot these merger/buyouts in the continuing vertical integration that has taken over the country...

2000Chase Manhattan Corporation J.P. Morgan & Co. Inc. J.P. Morgan Chase & Co.
2000 Washington Mutual Bank United Corp. Washington Mutual $1.5 Billion
2000 Wells Fargo & Co. First Security Corp. Wells Fargo & Co.
2001 Firstar Corporation U.S. Bancorp U.S. Bancorp
2001 First Union Corp. Wachovia Corp. Wachovia Corp.
2001 Fifth Third Bancorp Old Kent Financial Corp. Fifth Third Bancorp
2001 Standard Federal Bank Michigan National Bank Standard Federal Bank N.A.
2001 FleetBoston Financial Corp. Summit Bancorp FleetBoston Financial Corp.
2002 Citigroup Inc. Golden State Bancorp Citigroup Inc.
2002 Washington Mutual Dime Bancorp, Inc. Washington Mutual
2003 BB&T Corp. First Virginia Banks, Inc. BB&T Corp.
2003 M&T Bank Allfirst Bank M&T Bank
2004 New Haven Savings Bank Savings Bank of Manchester, Tolland Bank NewAlliance Bank
2004 Bank of America Corp. FleetBoston Financial Corp. Bank of America Corp. $47 Billion
2004 J.P. Morgan Chase & Co. Bank One JPMorgan Chase & Co.
2004 Banco Popular Quaker City Bank Banco Popular
2004 Regions Financial Corporation Union Planters Corporation Regions Financial Corporation $5.9 Billion
2004 SunTrust National Commerce Financial SunTrust $6.98 Billion[1]
2004 Wachovia SouthTrust Wachovia $14.3 Billion
2005 PNC Bank Riggs Bank PNC Bank $0.78 billion[2]
2005 Capital One Financial Corporation Hibernia National Bank Capital One Financial Corporation $4.9 Billion[3]
2005 Bank of America MBNA Corporation Bank of America Card Services $35 Billion
2006 Wachovia Westcorp Inc. (holding company for WFS Financial Inc and Western Financial Bank) Wachovia $3.91 Billion[4]
2006 NewAlliance Bank Cornerstone Bank NewAlliance Bank
2006 Capital One Financial Corporation North Fork Bank Capital One Financial Corporation $13.2 Billion[5]
2006 Wachovia Golden West Financial Wachovia $25 Billion[6]
2006 Regions Financial Corporation AmSouth Bancorporation Regions Financial Corporation $10 Billion
2007 Citizens Banking Corporation Republic Bancorp Citizens Republic Bancorp $1.048 Billion
2007 Banco Bilbao Vizcaya Argentaria Compass Bancshares Banco Bilbao Vizcaya Argentaria $9.8 Billion
2007 Bank of America LaSalle Bank Bank of America $21 Billion
2007 State Street Corporation Investors Financial Services Corporation State Street Corporation $4.2 Billion
2007 Bank of New York Mellon Financial Corporation Bank of New York Mellon $18.3 Billion
2007 Wachovia World Savings Bank Wachovia $25 Billion
2007 Bank of America U.S. Trust Bank of America Private Wealth Management
2008 TD Bank Financial Commerce Bank TD Bank $8.5 Billion
2008 JPMorgan Chase Bear Stearns JPMorgan Chase $1.1 Billion
2008 Bank of America Merrill Lynch Bank of America $50 Billion
2008 JPMorgan Chase Washington Mutual JPMorgan Chase $1.9 Billion[7]
2008 Wells Fargo Wachovia Wells Fargo $15.1 Billion[8]
2008 5/3 Bank First Charter Bank 5/3 Bank
2008 PNC Financial Services National City Corp. PNC Financial Services $5.08 billion

I'll admit that a lot occurred during Clinton- who was a Bilderberger too and a neocon and played to Big Business altho as Greenspan wrote he was more "fiscally conservative" than GW....

But altho Mike and/or Republicans don't want to admit- Bush has been at the helm the past 8 (EIGHT) and did nothing to slow down or stop this integration of the Big Corporates... Not only in Banking- all Business...

I know, I know- the new breed of Repubs don't accept responsibilty for anything :roll: :(

The Buck Stops Here
~Harry S. Truman
 

TexasBred

Well-known member
"I did not vote for Obama but he is remarkable.
In just over three weeks in office he has collected
more than $200,000 in back taxes
 

Mike

Well-known member
I'll admit that a lot occurred during Clinton

You have to admit it. You have no other choice.

We have been sliding down this slippery slope for many years.

They all come from the "Chicago School of Anti-trust". Even your new hero.
 

Tex

Well-known member
Mike said:
I'll admit that a lot occurred during Clinton

You have to admit it. You have no other choice.

We have been sliding down this slippery slope for many years.

They all come from the "Chicago School of Anti-trust". Even your new hero.

If by the Chicago School you mean that antitrust laws are to be interpreted so as to maximize the consumer surplus, you are correct.

This, of course, is a fallacy of the market approach. It allows companies that have market power to suppress their suppliers with that market power and gain a competitive edge over other companies that may not have market power. It is a subversion of the laws of the free market and the lessons learned in the last time we had all these problems around the turn of the last century that lead to all the antitrust laws.

I would assume this line of thought came from people who know better but were paid (like former Senator Phil Gramm) to come up with an excuse to allow companies to break the anti trust laws with "updated" theories. It has us in a mess right now and all of these people should just be pushed under the proverbial bus. The damage it has done to our markets just to keep their corporate masters head of the ship are huge.

Phil Gramm was great at quoting his grandmother but rarely following her advice. Of the two, there can be no doubt that his grandmother was the wiser and the most moral but Phil did seem to be able to persuade politicians with no moral, ethical or competent bearing. It is too bad McCain had Phil behind him as it showed his own competence.

The Chicago school of economics and anti trust needs to be questioned as to its competence and responsibility in the economic fascism we have seen permeating our government and the damage it has caused.
 
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