Thanks, Bill

Just a reminder of three major events under President Clinton. 

1. Repeal of Glass-Steagall.
2. Enactment of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which allowed bank holding companies to acquire banks anywhere in the nation and invalidated the laws of 36 states which had allowed interstate banking only on a reciprocal or regional basis.
3. Enactment of the Commodity Futures Modernization Act of 2000, which allowed trillions of dollars of OTC derivatives on Wall Street to escape regulation, 

These led to today's world. The number of FDIC-insured commercial banks has declined from 14,417 to 6,172. The 6,172 banks hold a total of $15.9 trillion in assets; just four banks (JPMorgan Chase, Bank of America, Wells Fargo and Citibank) hold 41 percent of those assets.