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Banking and Monetary Policy_Butkiewicz_Date__032310

Banking and Monetary Policy_Butkiewicz_Date__032310 -...

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Chapter 8 - Route 66 1950s—silver diners; today—fast food chains - Banking industry historically $10 to connected, like diner 5: money center bank example: Citigroup 7: super example: Bank of America—took over MBNA - Branches everywhere - More into traditional banking 8: single bank, within state with a few branches in state, operates in a few states—small bank - Reason to acquire a firm: want portfolio of assets and or labor 10: deposits were known as shares 11: key to a credit union= must be a common bond example: military, school district credit unions 13: lending institution, raise funds through borrowing 15: McFadden Act prohibited interstate bonding - Limited area
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Unformatted text preview: feared concentration of monetary power historically-PE- home of corporate charters 18: Nicholas Bittle—president of the 2 nd bank 21: consolidation will continue 23: if one part of industry process suffers, all the businesses in community suffer-Ken Lewis wanted empire/to be king of empire 24: concern: institutions are so big that if fail will really hurt the economy “too big to fail”-Why we have the Riegle Neal Act 28: asset backed securities—often look like bonds 30: 0= different people; buy for income stream they provide 34: problem list (FDIC)= banks in danger of failing 36: many finance companies owned by major banks...
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