By Rocky Vega
11/06/09 Stockholm, Sweden – After sucking the easy pickings value out of corporations in the “regular” economy the financial services firms turned on one another, and to the victors go the spoils.
The end result…the too big to fail are now even bigger.
Rocky Vega is a regular contributor to The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
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It seems the cartoon left out one last level on all of the big banks.
The Federal Reserve should be shown at the bottom under the last three big banks showing it swallowing the last of Goldman Sachs.