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Commercial banks are among the oldest and most familiar financial institutions. When they work well, we hardly notice; when they do not, we rail against them. What are the historical forces that have shaped the modern banking system? In Unsettled Account, Richard Grossman takes the first truly comparative look at the development of commercial banking systems over the past two centuries in Western Europe, the United States, Canada, Japan, and Australia. Grossman focuses on four major elements that have contributed to banking evolution: crises, bailouts, mergers, and regulations. He explores where banking crises come from and why certain banking systems are more resistant to crises than others, how governments and financial systems respond to crises, why merger movements suddenly take off, and what motivates governments to regulate banks. Grossman reveals that many of the same components underlying the history of banking evolution are at work today. The recent subprime mortgage crisis had its origins, like many earlier banking crises, in a boom-bust economic cycle. Grossman finds that important historical elements are also at play in modern bailouts, merger movements, and regulatory reforms. Unsettled Account is a fascinating and informative must-read for anyone who wants to understand how the modern commercial banking system came to be, where it is headed, and how its development will affect global economic growth.

Private finance --- World history --- anno 1800-1999 --- Banks and banking --- Bank failures. --- Financial crises. --- Banques --- Crises financières --- History. --- Government policy. --- Histoire --- Politique gouvernementale --- Faillites --- AA / International- internationaal --- 331.162.20 --- 336.71 <09> --- -Banks and banking --- -Bank failures --- Financial crises --- 332.1 --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Business cycles --- Failure of banks --- Business failures --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Geschiedenis van de banken: algemeenheden. --- Bankwezen--Geschiedenis van ... --- History --- Government policy --- Banks and banking - Government policy. --- Banks and banking - History. --- Bank failures --- Bailouts (Government policy) --- Business & Economics --- Bailouts (Government policy). --- 336.71 <09> Bankwezen--Geschiedenis van ... --- Crises financières --- Bankruptcy --- Intervention (Federal government) --- Prevention --- Geschiedenis van de banken: algemeenheden --- Bankwezen--Geschiedenis van .. --- E-books --- Bankwezen--Geschiedenis van