The Banking Powerplay is On: Bigger and Bigger Banks

It's clear if there is one thing the TARP money did was prepare the big banks to consume the smaller banks. As information came out about how TARP funds were distributed, we know the big banks were told to purchase other banks according to Wells Fargo CEO Richard K. Davis.

Of course, the world power is often found in currency, and we know the United States government has made it hard for these larger banks to pay back their TARP funds giving the US government more control over the big banks.

Now today, as we add a couple more failed banks making the total of 81 failed banks this year, of Bank United warns a thousand banks will go under in the next two years. He cites these are all smaller banks--their assets will be consumed by the larger banks. Before too long only a handful of banks will exist--all with ties to the Federal Government.

“Government money has propped up the very large institutions as a result of the stimulus package,” Kanus said.

If the federal government has TARP funds hanging over the heads of these larger banks, who have used government money to purchase the smaller banks, we are going to see a system where it will be hard to use money without more interference from what is becoming an increasingly oppressive government. You mix that with the fact that the national patient database will contain your financial information, and it's easy to see financially you are going to have little privacy from the US government.

I think Americans should be concerned about what is going in with banks currently, and today's prediction isn't good news. I have to believe he is probably going to be correct since the government has picked its favorites and is looking to have more control over the entire banking industry. The saddest thing about it, the US government is to blame and we let it happen because of the easy money made possible by the United States government.