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The Global Conglomeration

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Global Conglomeration, United States Megaholding Companies, Japanese Megaholding Companies-Zaibats/Keiretsu, German Megaholding Companies/ Combine of Interest-Groups, and Supradominance and Opportunities

By

James A. Harris, Sr.
January 10, 2000

President William Clinton, on November 12, 1999, signed into law the historic Gramm-Leach-Bliley Act, Public Law 106-102 (1999), Stock Number 869-03700102-4, (known also as the Financial Services Modernization Act), a framework for the advancement of financial services modernization and the acceleration of the convergence and huge consolidation of holding companies, banks, insurance companies, securities firms, and other financial service providers.

This Gramm-Leach-Bliley Act is recognized by many knowledgeable people as the best and most significant piece of banking and financial services legislation enacted in more than 66 years, and as one member of congress said "we have a new century coming and we have an opportunity to dominate that century the same way we dominated this century."

This article is an assessment of the United States megaholding companies, Japanese megaholding companies - Zaibatsu/Keiretsu, German Megaholding Companies combine of interest-groups, and supradominance that fuel massive financial services, industrial consolidations, and global conglomeration.