One of the major points discussed after the financial crisis of 2008-09 was the asset concentration in the banking system in the United States. However, little has been done on that front with the “too big to fail” in 2007 becoming “too bigger to fail” by 2015.

In the near-term, I don't see any major crisis or liquidity issues for the banking system in the United States. However, I do believe that the financial system is setting up for a bigger crisis in the next 5-10 years as total credit market debt continues. Further, artificially low interest rates encourage banks and financial institutions to speculate across asset classes and this involves substantial risk.

In January 2007, Dr. Marc Faber, author and publisher of the Gloom Boom Doom report, wrote an article titled – Irreparable Cracks In The Financial System. In my view, this article is as relevant now as it was in 2007. The excellent article is worth a read.