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Antitrust: Difference between revisions
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Suddenly, scale was much less of a limiting factor, because so much of it could be achieved with software. | Suddenly, scale was much less of a limiting factor, because so much of it could be achieved with software. | ||
A similar thing was happening in banking. Banks started scaling back branches, and reaching customers electronically. Previously, banks had grown (like Citi) through acquisition. Now not just the regulatory barrier to entry but a scale one. As we rolled into the 2000s we became aware of a bigger Most investment banks are well and truly past that point. | A similar thing was happening in banking. Banks started scaling back branches, and reaching customers electronically. Previously, banks had grown (like Citi) through acquisition. Now not just the regulatory barrier to entry but a scale one. As we rolled into the 2000s we became aware of a bigger problem: [[too big to fail]] and [[systemically important financial institution]]: banks that are so big, and so interconnected, that if they collapse they can trigger Armageddon. Most investment banks are well and truly past that point. | ||
nor for that matter Vanguard, Blackrock, Goldman, Citigroup, PIMCO | nor for that matter Vanguard, Blackrock, Goldman, Citigroup, PIMCO | ||
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