21st Century Banking

Topics: Bank, Finance, Banking Pages: 2 (588 words) Published: October 3, 2012

My course project for Money and Banking will revolve around the current banking structure. This research paper will look back on past banking structures and compare it to the current banking industry. Our textbook, Financial Institutions, Markets, and Money will serve as one of many sources in addition to the references below. This paper will also delve into past and present bank failures and its impact on the economy and consumers. History tells us the Federal Reserve was established as a result of past banking failures which and twice tried to present some form of structure before the current system was put into place.

The Economist (2010, November). Is the current banking system the worst possible? Retrieved July 25, 2012 from, http://www.economist.com/economics/by-invitation/questions/current_banking_system_worst_possible This site from The Economist asked this question and received a few responses on both sides of the fence. One response states that banks are not supposed to borrow on their own accounts or make risky investments. The Economist is a global weekly news and international publication first published in 1843.

Gordon Steele, John (2008, October). A Short Banking History of the United States Retrieved July 25, 2012 from, http://online.wsj.com/article/SB122360636585322023.html
This web page details why we are prone to panic in the banking industry. It details the battle between Thomas Jefferson and Alexander Hamilton. Jefferson hated banks, and even went bankrupt himself, while Hamilton had an understanding of the banks and markets and how they worked. The Wall Street Journal website is an offshoot of the newspaper and features up to the minute news on financial activities.

Retrieved from Fair Loan Rate on July 25, 2012

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