Commercial Banks & Underwriting Securities Essay by The Research Group

Commercial Banks & Underwriting Securities
History, trends, & legislation in banking, focusing on commercial banks & underwriting securities.
# 20763 | 2,475 words | 11 sources | 1994 | US
Published on Mar 02, 2003 in Business (Finance, Investment and Banking)

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"Commercial Banks and Underwriting Securities

Historically, banks in the US were relatively unregulated and control was exercised mainly by the states (Trescott, 1963). In contrast, in Europe and other developed lands, banking has been relatively centralized and controlled by the national government and/or was not a stable business, making big profits in boom times through speculation in land and industry, but often going bankrupt in recessions when "financial panics" force the calling in of loans because uneasy depositors wanted or needed to convert their savings into cash. The result invariably was a large contraction of the US money supply in the aggregate, which exacerbated any economic recession. Rural, small institutions, called "wildcat banks," were.."

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