Commentary - 09/19/2006

Who "Controls" The Largest U.S. Money Center Banks?

It seemed an interesting exercise to determine who really controls the largest U.S. money center banks, according to market cap. It is also interesting that there is such a group called the Financial Services Forum. I can't help but think that nothing has really changed since 1889, when the Great Red Dragon book was published, except that a greater amount of power has been concentrated into fewer hands since then.

The point is, control of American companies is rapidly being consolidated into a few foreign hands, and they are also doing so at "frantic" pace. Damn any of the promises that had been made, such as retirement benefits, health care and pensions. And why is this being done? To "own the earth in fee simple."

You can do the same lookup on any public corporation and see for yourself who controls what. You will also see that some of the major holders are hardly nothing more than a "front" for another, more powerful group. Simply find out who the major holders of the major holders are and you will see for yourself. This is simply to make it easier to deceive the public.

While doing this, remember that it only takes 10%, sometime less, sometimes more, of the stock to "control" a widely-held corporation. Especially when management and insiders show little or zero ownership. They, as hirelings, simply take their marching orders and their large paychecks, and everybody else be damned. If they show any conscience about what happens to their employees or customer base, they are simply replaced by another "aggressive leader." Be sure to click on the company's stock letters to check on these "Key Executives," the sums they were paid last year, and the stock options they cashed.

Another problem we're facing now is the growth of private-equity groups, which don't have to make the same disclosures as the publicly-held groups. This is why they keep gaining up on the SEC to "prevent" disclosure and accountability. This story appeared September 1, 2006:
Buyout Firms Join Lobbying Efforts.

I have no illusions that they are simply another type of "Snakes In Suits." One last thing: If you found this information valuable, please help support this site. With that being said, here goes:

Largest Money Center Banks (as of 30-JUN-2006)  
Symbol Name Of Corporation
C

Major
Holders
1. Citigroup Inc. [$247.49B]
Barclays Global Investors UK Holdings Ltd4.70%
Capital Research And Management Company3.59%
AXA (Paris, France)3.43%
State Street Corporation3.11%
Vanguard Group, Inc.2.55%
Wellington Management Company, LLP2.39%
FMR Corporation (Fidelity Management & Research Corp)1.42%
Morgan Stanley1.28%
UBS Global Asset Management1.28%
Northern Trust Corporation1.26%
Total percentage of Barclays and "associates"10.35%
BAC

Major
Holders
2. Bank of America Corp. [$237.25B]
Barclays Global Investors UK Holdings Ltd4.15%
FMR Corporation (Fidelity Management & Research Corp)3.35%
State Street Corporation2.99%
Wellington Management Company, LLP2.82%
AXA (Paris, France)2.65%
Vanguard Group, Inc.2.58%
Capital Research And Management Company2.03%
Mellon Financial Corporation1.39%
Northern Trust Corporation1.29%
Deutsche Bank Aktiengesellschaft1.17%
Total percentage of Barclays and "associates"10.43%
JPM

Major
Holders
3. JP Morgan Chase & Co. [$163.92B]
Barclays Global Investors UK Holdings Ltd5.05%
AXA (Paris, France)3.91%
Capital Research And Management Company3.32%
State Street Corporation3.12%
Vanguard Group, Inc.2.54%
Legg Mason Inc.2.20%
Davis Selected Advisers, LP2.05%
FMR Corporation (Fidelity Management & Research Corp)2.00%
Mellon Financial Corporation1.28%
Morgan Stanley1.25%
Total percentage of Barclays and "associates"12.90%
WFC

Major
Holders
4. Wells Fargo & Co. [$122.13B]
Berkshire Hathaway, Inc5.66%
Capital Research And Management Company3.90%
FMR Corporation (Fidelity Management & Research Corp)3.66%
Barclays Global Investors UK Holdings Ltd3.16%
State Street Corporation2.78%
Vanguard Group, Inc.2.49%
Davis Selected Advisers, LP1.87%
UBS Global Asset Management1.80%
State Farm Mutual Automobile Insurance Co.1.62%
Northern Trust Corporation1.43%
Total percentage of Barclays and "associates"7.37%
WB

Major
Holders
5. Wachovia Corp. [$88.28B]
Barclays Global Investors UK Holdings Ltd5.62%
FMR Corporation (Fidelity Management & Research Corp)3.03%
State Street Corporation2.93%
Vanguard Group, Inc.2.59%
AXA (Paris, France)2.39%
Dodge & Cox Inc.2.13%
Capital Research And Management Company1.28%
Northern Trust Corporation1.24%
Mellon Financial Corporation1.16%
State Farm Mutual Automobile Insurance Co1.05%
Total percentage of Barclays and "associates"10.95%
FDC

Major
Holders
6. First Data Corp. [$31.72B]
Goldman Sachs Group Inc4.55%
Wellington Management Company, LLP3.99%
Capital Research And Management Company3.94%
FMR Corporation (Fidelity Management & Research Corp)3.81%
State Street Corporation3.11%
Barclays Global Investors UK Holdings Ltd3.00%
Vanguard Group, Inc.2.55%
General Electric Company2.51%
Morgan Stanley1.92%
American Century Companies, Inc.1.88%
Total percentage of Barclays and "associates"15.09%
STI

Major
Holders
7. SunTrust Banks Inc. [$28.12B]
Capital Research And Management Company4.32%
Suntrust Banks, Inc.3.52%
Barclays Global Investors UK Holdings Ltd3.20%
State Street Corporation2.87%
Vanguard Group, Inc.2.44%
State Farm Mutual Automobile Insurance Co1.99%
AXA (Paris, France)1.90%
Massachusetts Financial Services Co.1.85%
Mellon Financial Corporation1.63%
T. Rowe Price Associates1.57%
Total percentage of Barclays and "associates"9.27%
BK

Major
Holders
8. Bank of New York Co. Inc. [$27.00B] (GLD trustee)
Capital Research And Management Company7.68%
Barclays Global Investors UK Holdings Ltd2.84%
Lord Abbett & Co.2.83%
Massachusetts Financial Services Co.2.68%
Vanguard Group, Inc.2.59%
State Street Corporation2.57%
Franklin Resources, Inc2.47%
Primecap Management Company2.09%
FMR Corporation (Fidelity Management & Research Corp)1.97%
Morgan Stanley1.86%
Total percentage of Barclays and "associates"9.74%
BBT

Major
Holders
9. BB & T Corp. [$23.64B]
Barclays Global Investors UK Holdings Ltd3.07%
State Street Corporation2.95%
Vanguard Group, Inc.2.66%
Branch Banking And Trust Company (North Carolina)1.55%
Northern Trust Corporation1.10%
Mellon Financial Corporation0.78%
TIAA-CREF Investment Management, LLC0.73%
AXA (Paris, France)0.50%
Janus Capital Management, LLC1.17%
CALPERS (California-Public Employees Retirement System)0.47%
Total percentage of Barclays and "associates"7.90%


© 2006 by Edward Ulysses Cate
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