As we see more banks fail, the concern by the media and talking heads is misguided in that they focus on the deposits of the citizens in the failed banks. Of course the deposits are protected by the FDIC and most Americans do not have more than $250,000 in liquid deposits.
The long term concern should be the lack of competition for financial products and the costs to Americans for those products going forward. With less competition prices will go up for us further padding the banks profits. Also the relationships between the remaining banks and financial services companies will cause pain to consumers.
The Federal Reserve will ultimately be controlled by just a few mega size members and this will also cause problems for Americans in the future.