"The whole financial industry is consolidating in the United States"

This quote by Sanford I. Weill recommends that the monetary market in the United States is undergoing a period of debt consolidation. This suggests that the variety of financial institutions is reducing as larger business acquire smaller ones. This debt consolidation is most likely due to the increasing complexity of the financial industry, which needs larger companies to have the resources and competence to manage the dangers related to the industry. Furthermore, the consolidation of the monetary market might be due to the increasing competition in the market, as larger business are better able to take on smaller ones. Ultimately, this consolidation of the monetary market in the United States is most likely to lead to a more effective and efficient financial system, as larger business are much better able to handle the threats associated with the market.