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Essay / Research Paper Abstract
This 10 page paper discusses changes in the banking industry and what people have to look forward to in the twenty-first century. The Y2K problem is noted. Bibliography lists 10 sources.
Page Count:
10 pages (~225 words per page)
File: D0_21bank.rtf
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Unformatted sample text from the term paper:
if ATMs go down and the bank suddenly has no record of everyones funds? What then? The fear is real. But Y2K is merely one problem the banking industry will
face in the twenty first century. In fact, while the computer problem is certainly large, and affects banking and financial institutions just as much or even more than the average
business, one should not lose sight of other trends which will take the industry into the next century and beyond. II. Banking Trends of the Recent Past The past
quarter century or so had contained a great many changes in financial markets and institutions (Goldstein 719). Neoclassicists, along with other mainstream economists, have seen greater market efficiency in terms
of the growth of the speed, diversity, and amount of financial flows (719). There is a tendency to subscribe crises to excessive and misguided regulation but others have looked at
the same history as producing instability, or have speculated that such was unhinged from real economic activity (719). Critics have often attributed speculative destabilization to such things as greed
or poor planning in respect to deregulation (Goldstein 719). The environment with respect to financial institutions underwent significant changes after the fifties (719). Rising inflation and interest rates turned bankings
regulatory strictures into a tight vise; growing streams of institutionalized savings along with emerging data transfer technologies opened new types of financing for businesses (719). The heightened competition led banks
towards more risk taking (719). This historical change is something the average consumer would know, although perhaps not consciously. They realize that ten or twenty years ago a bankruptcy or
other significant financial mar on a credit record would ruin them for at least a decade. Today, lenders of various types are taking significant risks. Banks are still on the
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