I have always found it odd that people that a breakup of the big banks like Citigroup, Bank of America, Goldman Sachs, JP Morgan, and Wells Fargo would somehow screw over shareholders.
As you probably know, the most legendary business breakup of all time occurred when the Supreme Court decided to break up John Rockefeller’s Empire at Standard Oil into dozens of baby oil pieces. Rockefeller was on a golf course at the time he found out about the ruling from one of his aides, and he reportedly responded to the news by saying “Buy Standard Oil” and then going on to sink a ten-foot putt (hate him or love him, you gotta admit that the big dogs of American capitalism lack the panache that the titans of yore possessed).
Of course, we all know what happened–the disparate parts became things like Exxon, Chevron, Conoco, Buckeye Partners, parts of BP, … Read the rest of this article!
The post You Should Never Fear A Breakup Of The Too-Big-To-Fail Banks first appeared on The Conservative Income Investor.