Probably most of you have already read David Cho’s Washington Post article on how the Big Four banks
- have gotten bigger through the crisis,
- have increased market share (now one of every two mortgages and about two of every three credit cards),
- are using their market clout to increase fees (while small banks are lowering fees), and
- enjoy lower funding costs because of the nearly-explicit government guarantee.
That said, I’m glad that Geithner says that undoing this situation is “the dominant public policy imperative motivating reform”.