From Mother Jones:
The nation’s 10 largest financial institutions hold 54 percent of our total financial assets; in 1990, they held 20 percent. In the meantime, the number of banks has dropped from more than 12,500 to about 8,000. Some major mergers and acquisitions over the past 20 years:
It might look like a sports bracket, but competition requires competitors and 33 of these players aren’t coming back next season. The object is to best other companies, not eat them.
For a similar look at the investment banking game, see the New York Times’ Wall Street Vanishing Act chart.