A disturbing Image...For you to comment on.

Originally posted by TDawgRex
Since 2009, BoA is now a subsiderary of CitiCorp.

I'm curious to how much further this has narrowed.

Nice try, Bank of America and Citigroup are separate entities. Even today.

Not sure why I even try with people like TDawgRex commenting on stuff.

TDawgRex shoud be BANNED for saying things that are lies.

Staff??????

reply to post by Djdoubt03


If you reverse the image you could see who ultimately controlled all those other entities anyway...

To avoid being caught in a monopoly you get your business buddies to create companies to "pseudo-compete" with you to give the illusion of a free market...or create your own companies to "compete" with yourself...either way your company is "WINNING" duh...

If one of the "pseudo competition" companies gets in trouble or has some bad "PR" and starts losing profits they sell out to their "parent" company and start all over.

So NOW there is no RISK...there is no risk in coincidentally killing people with your poorly made cheap ass products that you never spent the extra cash on to test properly because.......if something does happen, you sell out to the parent company rinse and repeat..and WINNING duh...again...

BP is a great example...cut corners save expenses on necessary safety measures to increase profits and wait till the inevitable accident happens that tarnishes your company in PR and kills those workers you never really cared about. Depending on how bad the backlash is you might only have to replace a CEO or Supervisor or two and the public will be satisfied and justice will be done...no one will ever really be put on trial for negligence that cost people their lives though...

meanwhile since you KNOW the SHTF scenario is around the corner for your company because of how many corners your cutting you can invest the money saved from cutting corners into other business ventures...like those that clean up after the destruction of your negligence cutting corners...WINNING DUH!!!!..........

How to create a monopoly...create your own fake competition, buy out all your competitors or put them on your payroll to do as you say.

sigh....its so obvious now

reply to post by litterbaux


Wow! No slack. Not the forgiving type are ya?

If I am wrong about something, and in this case I admit it after looking it up, let me know. Deny Ignorance, ya know?

When I was in the military, we all recieved notification that our BoA travel cards were being switched to CitiBank, a part of CitiCorp. because of a merger, and that we all had to reapply for the card.

Isn't a merger when two become one? I will profess ignorance as to how mergers work, but it made sense to me at the time.

I only used my BoA travelcard once and was screwed over for ten months by BoA. That was enough for me. Never did touch the Citi card.

reply to post by Djdoubt03


I have a real simple comment. Find a local or state credit union and join. If the customers flee the big banks for banking institutions they own, and have a voice in, they take the big bank's power. If you want to change that picture find a credit union you can join.

reply to post by Djdoubt03


The chart is alarming to say the least.

One would hazard a guess that this is a mere snapshot of the larger picture of unfolding amalgamations.

Kind of reminds me of this....



As mentioned in a previous post, it would be interesting to view similar charts of other industry powerhouses.

Good find OP

When I look at this chart.. I see the names and remember old commercials that lead to more memories of my forgotten past briefly.

The world has changed so much and we all live in the moment. Today will be yesterday before we know it.

Thanks for the chart.

S&F

reply to post by visualmiscreant


I believe he said..."Democracy is the road to socialism"

With the current troubles and the involvement of big French/Belgian/German banks in Greece, i expect soon to see the same in Europe.

reply to post by Djdoubt03


WOW that is nuts.

I can't stand big banks! They don't care about the people at all, only themselves. BOA imo is the WORST! I can't stand them.

I use to work for First Union while it was changing to Wachovia and I didn't like what I saw at all.

Where i use to live we had a small local community bank and there were three branches across two towns. They drove around in little yellow VW Bugs with their logo on the side. They would PICK UP your deposits if you wanted and they never over drafted your account. They would call you and let you wait til the next pay period if needed. Anything under 5 dollars over was put through any way. Their banking was free too! They were the best bank til the big banks ran them out of town!

I like smaller banks. I am not a bank fan and anyone who knows me knows this but I don't mind the smaller community banks. They are always more personable and will work with you unlike BOA or Wells Fargo who you are just a number to. The smaller banks know your name, kids names and pets if you have any! They knew we had cats and gave us cat toys (little mice) for Christmas one year. I mean who does that?! Thanks to big banking they are no longer....

Well at least I don't see my bank in that list so I assume it hasn't been bought out yet. Lol. Then again.....this is kinda old. To the point, yes this is truly disturbing. To think that your bank wouldn't have any connection with the top 3 only to find out it has already been bought and paid for......We need some SERIOUS REFORM NOW!

Originally posted by litterbaux

Nice try, Bank of America and Citigroup are separate entities. Even today.

Not sure why I even try with people like TDawgRex commenting on stuff.

TDawgRex shoud be BANNED for saying things that are lies.

Staff??????

So everyone who posts something false should be BANNED?

There would be nobody left.

Respect for other members is not optional here btw.

That is a scary chart and sadly representative across the board of nearly every single economic or public interest.

A chart showing the consolidation of TV and Radio stations along with print media would be even worse, starting with thousands in the 80's down a couple of dozen today.

That is a scary chart. I can actually remember a lot of the smaller banks. I'm really glad I'm I member of a credit union. It's a small one and the only requirement is to either live or work in this county.

Like others here, I would love to see one of these for other industries.

Maybe a bit off topic but related .... You know I watched that Decoded TV show and they were discussing GOLD manipulation. Does the USA still have the gold Reserves we once had.... most felt the answer was no. If this was true you'd see a destabilized banking system...like we are now. an expert said it was a matter if it was a crash and burn or a slow decent for the american people.

The old addage follow the money is more true today than ever ... problem is most likely there is a point where nobody will get any answers....

BTW - The graph looked like a tournament board - and as the finals draw closer I wonder what that game will be like.

reply to post by Djdoubt03


"The bigger they are, the harder they fall."

many of these mergers/acquisitions have been pushed/directed by our govt. as part of the bailout program. A prime example on a smaller scale in my region was the directed takeover of National City Bank by PNC Bank.

PNC got $7.7 billion of the $750 billion bailout chunk. National City received $0. So PNC gets a gift from the govt. and PNC gives the govt a %15 stake of PNC Financial over the next 10 years or so.

The bailout funds were attached to some pretty long puppet strings being controlled by the Federal govt.

PNC got the gift because National City Bank was bogged down in the bad mortgages that got us into this mess to begin with. It was a pick and choose game and still is.

How many banks have been closed by The Fed in the years since the bailout?

Here is a comprehensive list. Note the institutions that have acquired these failed Banks.
www.fdic.gov...

Originally posted by visualmiscreant
Karl Marx talked about this a long time ago. I can't remember word for word, but paraphrased it goes something like this...
Capitalism inevitably becomes Communism, because it produces monopolies, and balances unemployment with inflation. Probably nowhere near right, but maybe somebody knows the quote. Gosh, I'm slipping...

from what i understand capitalism eventually becomes communism because, when the majority find out that a small percent run the show and have all the wealth, they will want to spread that wealth (democrats).

I would like to say in regards to governments, having lived in a real communism and now in this capitalism/fascism,
that no matter where you live one thing always applies and that is if you work hard you will get what you want. So do not pay too much attention to governments because they will not spoon feed you.

reply to post by Asktheanimals

All these bank threads lol

I posted on a different one and mentioned that a hundred years ago when I worked for Fleet Bank and of course being in the executive office we knew that BofA was coming long before anyone else did. I told everyone to get in on BofA (investment wise) and then get out ASAP.

You can jump banks all your life, it all ends up in the same hands at the end of the day.

Mergers, aquisitions, making a profit...

It's really simple and I'm not sure why people don't understand... if you are a consumer working a regular 9-5, put your green in a "consumer" friendly bank i.e., small community bank, credit union, etc.

If you're a business person who owns/operates a company with a substantial bottom line... then throw your funds into a commercial bank i.e., BofA... buy some shares, attend the shareholder meeting and have a say in the operational changes and general direction of the bank.

It's a simple matter of doing some research before you open the account. People should take responsibility for their own finances.

It's like someone building their house on stilts on the beach, then a big storm comes and they're on TV crying because their house is floating away... really?

It's not rocket science

Here's one about the corporate media for ya: [atsimg]http://files.abovetopsecret.com/images/member/1701014bd084.jpg[/atsimg] Ah it seems that sonny beat me to it.