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Talking about breaking up the big banks is officially trending, with sources indicating Bank of...

Talking about breaking up the big banks is officially trending, with sources indicating Bank of America (BAC) execs and officers discussed the idea but decided against it. In the meantime, "Fast Eddie" Crutchfield, who M&Aed First Union into a sizable player in the 90s, joins Sandy Weil and Phil Purcell: Putting "gargantuan, completely unrelated businesses under one roof is probably not a good idea."
Comments (12)
  • Jason Tillberg
    , contributor
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    Seems all the efforts put forth by the folks at LaRouche have finally paid off.
    30 Jul 2012, 01:10 PM Reply Like
  • bbro
    , contributor
    Comments (9160) | Send Message
     
    We wouldn't be talking about this if residential investment to GDP hadn't soared to a 55 year high and then proceeded to drop to a 64
    year low....
    30 Jul 2012, 01:12 PM Reply Like
  • Eighthman
    , contributor
    Comments (212) | Send Message
     
    Perhaps investors and the markets ( what's left that isn't manipulated) can achieve what a corrupt government can't:

     

    Break up the Too Big To Jail Banks.
    30 Jul 2012, 01:16 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2427) | Send Message
     
    This is how M&A advisory work. Build companies up touting economies of scale, then break them apart to unlock value. Each time they collect a nice fee. Its how the business works.
    30 Jul 2012, 01:31 PM Reply Like
  • SuperDock
    , contributor
    Comments (4) | Send Message
     
    'Fast Eddie'Crutchfield ran a blue-collar bank that always was regarded as being.on the fringes of banking. Crutchfield's successor, Ken Thompson, was in my opinion a moron and he, in essence, bankrupted what Crutchfield and John Medlin at the original Wachovia Bank in Winston-Salem, NC had built up over the years. There are many people who wish that Ken Thompson would serve several years in a federal prison.
    30 Jul 2012, 02:03 PM Reply Like
  • frankjg
    , contributor
    Comments (9) | Send Message
     
    The big guns are after Bank America. If it would be broken up there would be a line up to see who gets the pieces. BAC is aware of this!
    30 Jul 2012, 04:05 PM Reply Like
  • MexCom
    , contributor
    Comments (3042) | Send Message
     
    The only problem is that the last time I broke up a bank - some of the pennies got lost rolling all over the floor. My reward was also finding a dime! Silver one at that! I went to town and bought an ice cream cone for 8 cents and a pretzel stick for a penny keeping the change for good luck.
    30 Jul 2012, 04:17 PM Reply Like
  • msphar
    , contributor
    Comments (147) | Send Message
     
    Yawn, nonstarter.
    30 Jul 2012, 06:17 PM Reply Like
  • bigTTT
    , contributor
    Comments (257) | Send Message
     
    Big bank, little bank, they all got in trouble in the past. The big ones survived, the little ones didn't! The stress test takes care of the banks now. Well, except for the little ones. Nothing on earth can help them. No one cares! Let the Govt decide what to do in business. Yeah, that's a good idea. I mean, they can balance a budget!!!
    30 Jul 2012, 07:16 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    (BAC) execs and officers discussed the idea but decided against it.

     

    ... you bet they decided against it. They want to be TBTF and get another bailout if that is needed. From their perspective the bigger and badder, the better.
    30 Jul 2012, 08:50 PM Reply Like
  • bernie 1
    , contributor
    Comments (491) | Send Message
     
    With the European banks tied up for who knows how long in the Libor scandal,So. American & African banks are non-starters. Will the North American banks (TBTF) be allowed to break up & leave the Chinese & Russian banks to do all of the international deals. If IBM,G.M.,EXXON etc.also include most nations want to do business anywhere in the world does anyone out there think they will call the Dime or ALLY for the deal ?
    It's just amazing that we all laughed when Chairman Mao said that they could wait for a 100 years to win. Break up the big banks in the States & the CNOOC offshore oil deal will just be chump change.
    31 Jul 2012, 05:52 AM Reply Like
  • bigTTT
    , contributor
    Comments (257) | Send Message
     
    We had small banks in Ga go bust. One guy at the bank was a crook. The FBI is after him. Some of these depositers lost everything. Some of their bank investments were not FDIC insured or they were over the limit. The Govt. is not going to rescue small banks! They will and did, close them down in a heartbeat! You'er a small fish in a big pond, just screwed! Give me a big bank any day, the bigger the better. If they go out of business I want it to be a sad day for everybody! lol
    1 Aug 2012, 09:10 AM Reply Like
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