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These Charts Prove it is Time to Break Up the Big Wall Street Banks

by Pam Martens and Russ Martens
Wall Street on Parade

According to a statistical release from the Federal Reserve, as of March 31, 2018 there were 1,812 commercial banks in the United States holding consolidated assets of $300 million or more. Of those 1,812 banks, just four banks (JPMorgan Chase, Bank of America, Wells Fargo and Citigroup’s Citibank) held 45 percent of the consolidated assets of those 1,812 banks.

But looking at data at the Federal Deposit Insurance Corporation (FDIC) the situation is even more extreme. The FDIC shows there are 5,606 insured banks in total holding $17.531 trillion in assets. JPMorgan Chase, Bank of America, Wells Fargo and Citigroup’s Citibank are holding 40.42 percent of the assets of all the insured banks in the country.

Continue Reading at WallStreetOnParade.com…

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