Bank consolidation not a good thing....tinfoil hat time!

[berettafan]

Suggest the more concentrated the money supply becomes via consolidation of banks the more dangerous a situation we are all in. Both from a tinfoil hat 'new world order' pov and from a 'big banks don't reinvest in their communities and encourage new business growth' pov.

Adding to this a recent conversation i had with a coworker regarding a new gig whereby employers pay their staff via auto-loading debit cards. Lots of issues with this the most obvious being local banks will no longer be getting those deposits as presumably one major national bank would service the cards.

Then there is the likelihood of said banks extending credit to generally non-worthy debit card holders and getting them on the hook for outrageous rates.....

Perhaps this banking bailout should've had a 'build and support new community banks below $xxxxxxxx in deposits' part.

Discuss