Too-big-to-fail bank concentration worsened after the 2008 crisis

Evidence

According to many analysts, the “too big to fail” problem is far worse than it was in 2008. “The six largest banks in the nation now have 67% of all the assets in the U.S. financial system, according to bank research firm SNL Financial. That amounts to $9.6 trillion, up 37% from five years ago.” — Wendy Brown, Undoing the Demos, 736

Categorization

• XREF: Reinforces the reader’s underlying concern with corporate concentration; pairs well with Milgrom/Bernstein material on market self-governance failing at scale. — connects to: Eurozone banking integration outpaced national resolution, producing too-big-to-bail systemic risk — Mark Blyth, Austerity: The History of a Dangerous…, 227; Post-2008 financial reforms left the system’s core infrastructure unchanged — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 25; The Day of Reckoning narrative collapsed when bankers were bailed out and prospered — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 468 (+2 more)