Many thanks to a friend for passing along this chart from JP Morgan showing how much the world's largest banks have seen their equity collapse in recent months. This illustration not only shows how much the landscape has changed from the recent crisis, but also how universally banks have been crushed.
The tragedy is that by propping up these banks that are languishing under their a perpetually shrinking net worth, the federal government is jamming up the capital that could be lent out by other, smaller institutions.
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