Future Now

Here we go...

"Almost lost in the smoke-bomb of Lehman Brothers’ epic fail Sunday was Bank of America’s historic takeover of Merrill Lynch for $50 billion. Over the last seven years, B of A has made $100 billion in acquisitions that have expanded its service in core banking (Fleet and LaSalle banks), credit cards (MBNA), and mortgage lending (Countrywide). Now, it’s investment services’ turn.

Soon, Bank of America will touch nearly every aspect of your financial life. It will be able to provide a bank account to save your money in, a mortgage to spend it on, a credit card to splurge with it, and now advice about how to invest it. It’s a real life, fiscally concentrated version of Wall-E’s Buy ’n’ Large."

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