I agree with Cramer. Ergo the Cara 100 financial companies list is now going to undergo a radical make-over. I am adding Bank of America, Morgan Stanley and Merrill Lynch and dropping E*Trade, and two of Banco Bradesco, Kookmin and Westpac Banking to a lower tier.

That's not to say I think any less of these banks. But I have to believe the global dynamics are such that the major full-service North American banks are going to dominate.

The whole financial services game has changed, and I got that sense last Wednesday evening at dinner with some very senior executives at Citigroup. I started passing that message through for the last several days.

Trading is never going to be free actually. These bankers will simply trade against the customer's order-flow as they have done in the past. They'll just make it easier for us to give them our money. From our pockets to theirs.

Once we have paid our dues " we'll be allowed to join their respective armies. We'll be provided the best technology, the best research, the best IPO product, and so forth, and the Generals will use our capital to fight their battles in the War To Control Global Assets.

Soon all of us will become regimental troop numbers in the Goldman army or the Citi army or the HSBC army.

Choose your army wisely.