I enjoyed this graph in the financial times.
Here’s the best part. At the bottom of the graph is a a slider, so you can see how the listing changes over a 10 year period.
Fun games you can play:
- Look at Citigroup’s capitalization over time. Notice anything peculiar about the most recent year?
- Look at HSBC (the company I am suing). It seems to have ups and downs.
- Look at the biggest banks in 1999. See how it compares with the biggest banks in 2009. Can you draw any conclusions about the world economy from it?
- Look at Fannie Mae (did you even know it was a bank?) Track its rise and fall.
- Look at how the color bars grow and decline over time (the color bars represent the wealth of all humanity).
- Wow, look at how great a year 2007 was for banks!
- Wow, where did Bank of America go?
Essay question: is the better performance of Asian banks in 2009 a result of 1)China’s modernization or 2)China’s cautious investment
policy or 3)incompetence of US banks or d)all of the above.
Update: Darn, it looks like this fun graph is now behind a pay wall. Last time I link to FT!
See also: Tyler Cowen’s New York Times piece about why the AIG bailout costs more taxpayer money than those oft-talked about corporate bonuses.
Is it just me or does the whole world eagerly await Robert Reich’s blogposts? Friday he said we need to recognize a depression for what it is and just a few minutes ago he complains that Geithner’s threat to fire CEO’s dependent on government handouts is essentially empty. He writes:
All told, about one out of every five large American companies depends on government contracts, and a majority of these firms are losing money right now. So … off with their heads.
Simon Johnson notes that the prescription for rescuing the US economy is similar to that the IMF gives to developing nations: stop coddling your corporate fat cats! Simon Johnson writes for Baseline Scenario, a great recession blog.