Big 6 Banks Worth 64% of Nation’s GDP

[osoab]

Big 6 Banks Worth 64% of Nation’s GDP…up from 17% in 1995 (http://www.allgov.com/Where_is_the_Money_Going/ViewNews/Big_6_Banks_Worth_64_Percent_of_Nations_GDP__up_fr om_17_Percent_in_1995_110117)


The latest financial data from the third quarter of last year shows the assets of the six largest banks—JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley—were worth 64% of the gross domestic product. Fifteen years ago, these banks represented only 17% of GDP.

JPMorgan Chase alone controls 46% of all bank deposits in the U.S. Here is the approximate asset value of each of the Big 6 Banks:
· JPMorgan Chase--$2 trillion
· Bank of America--$2 trillion
· Citigroup--$2 trillion
· Well Fargo--$1 trillion
· Goldman Sachs--$880 million
· Morgan Stanley--$820 million.


Going back to the thread where the Chinese put the U.S. GDP @ 5 Trillion not 15 trillion. You take these 6 banks out, you get pretty close.

[k-os]

Too big to fail?

[palani]

Before discussing trillions of the things can anyone define one dollar for me?

[po boy]

371.25

[Mouse]

What are the liabilities valued at? You can have assets all day long, but if you also owe money? NAV, bitches. If you put these guys on a true MTM without all the FASB-allowed Non transparency through accounting BS - they are likely underwater.

[Mister_Pennyweather]

That's good news. Much lower than I thought. ;D

[Awoke]

Big 6 Banks Worth 64% of Nation’s GDP


I suppose that depends on your interpretation of "worth"...