I have railing for two decades over the massive consolidation of banking in the US. This is the result.
It's about to consolidate a whole lot more.
We will be hearing a bunch of psycological babble over the coming days and then the government (through instruction from the Fed) will move in and take controlling interest in a few of the largest banks. We will then see a patterned reduction in smaller banks that are deemed to be 'under performing'.
I'm guessing that we'll see 600-700 banks closed (not branches - banks). This number could go over 1,000.