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> Our banking sectors are insanely large. Aren't they supposed to be efficient? Why such a large % of the economy?

Are they? What is the appropriate size of a nation's banking sector as a % of GDP (or whatever)? Who decides this?

This is still a free(ish) market. Anyone who can provide the same services/capture the same opportunities with fewer resources is rewarded.

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Nope, we have a series of too big to fail banks which have exclusive issuance of debt as $, unconstrained by any limits other than demand now we are off the gold standard:

https://bankunderground.co.uk/2015/06/30/banks-are-not-inter...

They use this privilege to capture all benefits of wealth creation via usury against land.

Just go outside. Why are banks like the new churches in the middle of the most expensive real-estate in the world? They are supposed to be the oil of real industry. The tail is wagging the dog.

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