Universal Banking in the United States: What Could We Gain? What Could We Lose?

By Anthony Saunders; Ingo Walter | Go to book overview

1
Introduction: Banking
Structure and Global
Competition

Few topics in economics and finance have been as hotly debated as the "optimum" structure and regulation of the banking system. The objective is always the same: maximum static and dynamic efficiency within a politically and economically tolerable framework of stability and equity. Gains in efficiency often come at a cost in terms of stability and equity. More stable and equitable financial systems often require sacrifices in terms of efficiency. Coupled to these basically national considerations is global competitiveness -- of the national financial services industry and of the national economy more generally. The four benchmarks against which the ultimate performance of national financial systems must invariably be measured are stability, equity, efficiency, and competitiveness.

Financial services as an industry has become one of the most rapidly changing sectors of the global economy, with massive shifts in information transmission and processing, financial innovation in products and processes, and intense competition among institutions -- and between them and many of their clients. As the industry and its role in the economy changes, it stands to reason that the regulatory structure ought to be reexamined periodically as well. In the United States, major pieces of the regulatory structure -- such as the McFadden Act and Glass-Steagall Actwere put in place some six decades ago, and despite the dramatic reconfiguration of the financial intermediation process little change has occurred in the legislative overlay. Decades of political lethargy, coupled with powerful vested interests capable of suppressing national welfare considerations, has left it to the regulators and the courts to bend the regulatory

-3-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Universal Banking in the United States: What Could We Gain? What Could We Lose?
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 276

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.