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Essay / Research Paper Abstract
This 3 page paper examines the banking industry in Question and Answer format. The two areas addressed are the dual banking system and the Savings and Loan debacle. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA540bnk.rtf
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Unformatted sample text from the term paper:
two sets of laws: state and federal. The United States is a unique country in that it has this aspect of state and federal law which sometimes coincides and are
sometimes at odds. Bodenhorn (2003) adds that this system, where state and federal banks would operate next to one another, would serve to attract charters. The author goes on to
explain: " In return for a charter, these banks promised to fill the state treasury, sometimes with a onetime payment, sometimes with a promise to lend at preferential rates" (Bodenhorn,
2003, p.15). This is really tantamount to bribery and would occur during the era in which the system was born. 2. What historical developments led to that structure? How
is the structure justified today? The National Bank Act of 1863 would create the structure ("Banking in the United States," 2005). However, in 1865 some banks were taxed by
the federal government and some were exempt, leading to a situation where certain banks would become very different from their federally regulated counterparts ("Banking in the United States," 2005). This
would lead to a scenario where some banks continued under state charters ("Banking in the United States," 2005). It would continue until the federal reserve system was born ("Banking in
the United States," 2005). It seems that to a great extent, the dual system of government would lead to the structure. In other words, the US government is unique
in its historic compromise of state and federal power in government. Without that background, the dual system as it respects banking could not have come about. Of course, there is
more involved than that. The banking system after all could have been only federally supported, but it had been both state and federally operated. Why is this the case? How
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