Five banks control 56% of U.S. economy

FIVE BANKS - JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. - held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS
FIVE BANKS - JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. - held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS
WASHINGTON - Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the nation’s credit markets seized up and required unprecedented bailouts by the government. Five banks - JPMorgan Chase & Co., Bank of America Corp.,…

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