Banking consolidation continues apace

After months of speculation of its weakest elements, the global banking sector has undergone what many are calling a long overdue consolidation within the space of a few days. Here's a summary of what has happened, its happening - and may happen next.

The first major step towards the restructuring of the global banking giants came through the emergency sale of Bear Stearns, an investment bank, to JPMorgan, an American financial conglomerate, in March. The strong hand of the Federal Reserve in