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 3 Superbanks Now Dominate Industry

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3 Superbanks Now Dominate Industry Vide
PostSubject: 3 Superbanks Now Dominate Industry   3 Superbanks Now Dominate Industry Icon_minitimeThu Nov 06, 2008 9:25 pm
The financial crisis that has been sweeping the globe has reshaped nearly every corner of the economy, but no industry has been altered more radically than banking.

Several of the nation's biggest banks have failed or been absorbed by healthier institutions, leaving three giant "superbanks" with an unprecedented concentration of market power: Bank of America, JPMorgan Chase and Wells Fargo.

While that may be good news for emerging giants and the failing companies they helped rescue, the new oligopoly raises troubling questions about regulation and competition, analysts and consumer advocates say.

http://www.msnbc.msn.com/id/27441147/
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