Look who's buying up the largest chunks of our "cherished" US banks.

Here's some quick reading (which creates a quick tutorial if read in totality) well worth anyone's time:

Wealth leaving the US

$9 billion - Mitsubishi (buys 21% ownership of Morgan Stanley)

Banco Santander (Spanish) is <A HREF="http://www.marketwatch.com/news/story/banco-santander-sa-acquire-sovereign/story.aspx?guid=%7BAB31606E-9B6E-453D-BE5F-BA03B1497427%7D&dist=hppr"">going to own Sovereign Bancorp
with an undisclosed (firesale) investment.

Every American would do well to also learn about the big players in the Hong Kong financial empire which has been like a huge magnet attracting and consolidating US & Asian wealth over the past two decades and in many ways by facilitating Chinese-US manufacturing, shipping, etc.

HK Tycoons

R. Li

Ka-shing & Facebook

Ka-shing & influence

And here is a great statistic & article to help one see the sheer scope of Asian investment in the US:

Central banks, mainly Asian, did continue buying American securities in July. But they did so at a slower pace than usual. They made net purchases of $18.2 billion, compared with an average monthly purchase of $22.3 billion in the first half of this year, according to the latest Treasury data

Think about that - 22.3 billion per MONTH.

The past decade we have seen increases in trillions of dollars of US wealth being held by Asian banks. And even though the smaller investors will be rattled, the bottom line is this market meltdown will simply shift more US wealth to the far east even faster.

A lot of glint-in-the-eye folks are rooting for a near total meltdown in the US with firesale prices on everything from real estate to banks and established companies.

The way to look at it positively is to be happy that the wealth is at least staying on Earth and the US is not being bought up by a hostile planet somewhere out there.

In the future, Earth might not be so lucky.

;-)