What alot of you guys don't realize (or at least haven't mentioned) is that almost all major banks are controled by the same very small group of people. This is their way of combining them into one large bank. Not only that but those few people who are in charge of the banking system, are also pushing to get Canada, Mexico, and the United States, using the same currency.
If you do some research you will find that almost 95% of all banks in this country are run by the same group of people. They are the major stockholders, or officers in almost all banks. The board of directors of Chemical Bank are also on the board of directors on: JP Morgan Chase, Citigroup, Capital Group, Chase Manhattan, Federal Reserve Bank of New York, Exxon Mobil, Verizon, NYNEX, CBS, Federal Reserve Bank of Dallas, Federal Reserve Bank of Chicago, British Petroleum, Microsoft, Pepsi, Merck, At&t, Comcast, and there's a lot more. Too many to list.
The point to all this? These "failures" are not failures at all. This is the strategy of the very wealthy. Bear Stearns ended up selling for $60 per share less than it was trading a week before. That's no accident. It was a way for the gov't to allow a merger that it would have never allowed if Bear Stearns wouldn't have been in so much "financial trouble". Not only did they ALLOW it, they FINANCED it!
Keep this in mind also. 5% of Americans hold 95% of American dollars.
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