FIN 311 Lecture 5: Day 5
Document Summary
Bank critics: entire nance industry has become criminalized (ex. 2008 mortgage bubble: charles fergueson, director of inside job:since the short of ownership of banks had been for the worst. Pro banks: we are doing god"s work, lloyd, ceo of goldman sachs. History overview: long history of in us fear of banks. Long standing ght between money centers (philly and ny) and the hinterlands. Deep resentment of bankers": very deep debate. Debate over banking and control of banking goes all the way back in the us. Hamiltons view: that a national banks is an institution of primary importance to the prosperous administration of the nances, and would be greatest utility. The early years: hamilton prevails in his view. Established the rst bank of us (1791) Attempts to control in ation and provide a steady money supply: but, the battle is on. The jeffersonians have won the war; the banking industry grows very atomistically.
