According to an info graphic from Face the Facts, since 1970 the top five banks in the U.S. — J.P Morgan Chase & Co., Bank of America Corp., Citigroup Corp., Goldman Sachs and HSBC Bank (the top five in 2011) — have more than tripled their share of the banking market. Holding 17 percent of the market in 1970, as of 2011 the top five now own 52 percent of the market.
To match the massive increase in the top five banks, smaller banks have seen a drastic decrease since 1970. In 1970 there were 12,500 small banks holding approximately 46 percent of the market. In 2011, that number was down to just 5,700, holding 16 percent of the market.
The massive amount of wealth held by a handful of banks has caused some to question the safety of relying on banks considered “Too Big to Fail.”
For more interaction with the graphic, go to Face the Facts U.S.A.
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