First here’s the story: PNC to buy Royal Bank of Canada unit, card assets
Ok first of all I bank with PNC and I’ll just say I’ve very happy with them but they are the 5th largest bank in the country and this will help make them bigger. The problem I have with banks getting so big is the whole TO BIG TO FAIL issue, we’ve been though this once already and it almost destroyed the country! Seriously are we so fucking short sighted that we can’t remember the biggest financial disaster since the great depression that happened less than three years ago!
What needs to happen is the government needs to step in and say that’s enough, you’ve gotten far to big and we are telling you that you can not buy or merge with any other banks. In fact what they really need to do is say you can’t do this because your already to big to fail and so we will mandate that you be broken up with in one years time. But we all know damn well that the fucks in Washington D.C. would never do that because if they did then the banks wouldn’t pay for their little golf outings and buy 10,000 copies of their books if they vote for what ever their told to vote for. It’s fucking bull shit!