Quote:
Originally Posted by Braincase
(Post 5100564)
Economic power is being consolidated. Smaller independent banks that took too many risks are being absorbed by the uberpowerful banks (families) that have the reserves.
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Actually a lot of the smaller, independent banks are doing quite well. Most of them couldn't afford to get involved in the sub-prime mess. They had to do business the old-fashioned way, and so for them it's business as usual, only all the big guys who usually take all their business are closing their doors. |
