Commentary - 10/30/2007

Who Controls The Ten Largest Money Center Banks?

It has been a year now, and who controls today's money center banks has been updated. The list came from here. Nothing much has really changed in a year, and not much has essentially changed since 1889 when the Great Red Dragon book was published. Except that a greater amount of power has been concentrated into fewer hands. Clicking on the bank's name will show in detail the Major Holders.

Largest Money Center Banks
[By Market Capitalization - As of 10/30/2007]
Bank of America$212.9 B
Citigroup$212.4 B
JP Morgan Chase$156.8 B
Wells Fargo & Co$113.5 B
Wachovia Bank$88.0 B
Royal Bank of Canada$72.8 B
Bank of New York Mellon$54.6 B
Bank of Nova Scotia$54.2 B
Toronto Dominion Bank$52.5 B
SunTrust Banks$25.2 B

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 earlier, such as retirement benefits, health care and pensions. And why are they doing this? To "own the earth in fee simple."

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

While doing this, remember that it takes only 10% of the stock to "control" a large 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 will simply be removed, then replaced, by another, more "aggressive leader."

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2007 by Edward Ulysses Cate
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