Genealogy of American Finance

Genealogy of American Finance

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In this unique, gorgeously illustrated book, readers learn how fifty financial corporations came to dominate the U.S. banking system and their impact on the nationA•s political, social, and economic growth. A story that spans more than two centuries of war, crisis, and opportunity, this account reminds readers that American banking was never a fixed enterprise but has evolved in tandem with the country. More than 225 years have passed since Alexander Hamilton created one of the nation's first commercial banks. Over time, these institutions have changed hands, names, and locations, reflecting a wave of mergers, acquisitions, and other restructuring efforts that echo changes in American finance. Some names, such as Bank of America and Wells Fargo, will be familiar to readers. OthersA‘including Zions Bancorporation, founded by Brigham Young and owned by the Mormon Church until 1960A‘surprise with their origins. Exploring why some banks failed and others thrived, this book wonders, in light of the 2008 financial crisis, whether recent consolidations have reached or even exceeded economically rational limits. A key text for navigating the complex terrain of American finance, this volume draws a fascinating family tree for projecting the future of a nation.But the Bank of Montreal pushed on, picking up the Merchants Bank of Canada in 1921. ... When the stock market broke in 1929, therefore, the bank, which by then had an authorized capital of $CA50 million and assets of ... In the 1980s, however, deregulation shook the old establishment by allowing banks to expand into new areas of finance, including insurance, investment banking and trust services.


Title:Genealogy of American Finance
Author: Robert E. Wright, Richard Sylla
Publisher:Columbia University Press - 2015-03-10
ISBN-13:

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