The Financial Times has put together a very interesting interactive chart that shows you how dramatically things have changed in the financial industry in the past 10 years. Citigroup was the largest financial institution by far from 1999 through 2007. Then it fell to 8th place in 2008, and now is not even among the top 20. Note that 5 of the top 20 institutions are now Chinese, whereas only three are from the U.S. Schumpeter's creative destruction is alive and well.
HT: Yashpal Agrawal