quote:Explain why? I don't think you can articulate anything near a reasonable explanation.
If Goldman goes down, they all go down.
quote:Factually incorrect if you're trying to claim that about JPM.
A majority of these investment banks income comes from commodity trading
Then why can't orange farmers for instance, join together, work with manufacturers who use oranges to determine needs, and collective agree to prices that allow the orange farmers to profit.
I would rather see manufacturers who have the means temporarily absorb this risk cut these banks out.
Here are the top six and their total assets:
1. Bank of America Corp., $2.264 trillion
2. J.P. Morgan Chase & Co., $2.246 trillion
3. Citigroup Inc., $1.957 trillion
4. Wells Fargo & Co., $1.260 trillion
5. Goldman Sachs Group Inc., $937 billion
6. Morgan Stanley, $831 billion
Together, the top six companies’ assets were $9.495 trillion.
For the second part of the equation -- gross domestic product -- we turned to the U.S. Commerce Department’s Bureau of Economic Analysis.
Though the time spans don’t line up perfectly, we decided to use the GDP figure for 2010, the most recent full year. That figure is $14.527 trillion.
Dividing these top banks’ assets by the national GDP produces a result of 65 percent -- which is actually a slightly larger percentage than Sanders had indicated, but certainly in the ballpark.
They don't need to be regulated - they need to be busted up.