When we consider the Great Depression, modern commentary from the left and right contends that bank failures were one of its major causes.
On Sunday, the Fed quickly approved applications filed over the weekend by Goldman Sachs and Morgan Stanley to convert to bank holding companies, ending the modern era of Wall Street banks that operated largely without accountability.
To the modern chauvinist, having a central bank ranks in importance up there with having a national flag.
The bank, like any modern one, held deposits and made loans, dealt in bills of exchange, changed money and conducted business abroad.
Instead, he is probably being promoted because he understands how to run practically every operation inside a modern bank, including the ones that the bank never should have bought in the first place.
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The modern company that inherited it, Garanti Bank, has funded its conversion into a stunning arts and banking archive known as SALT.
The Tate's modern art collection will be moved to its new development at Bankside, on the south bank of the River Thames.
The suspects - a Russian, a Latvian and a Romanian - ran a "modern-day bank robbery ring, that required neither a gun or a mask", the prosecutors say.
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"No single person or even any single bank created the biggest financial recession in modern times, " he said.
This was unprecedented in modern times for a central bank, the consultancy said.
With modern bank holding companies engaged in both the securities business and the commercial banking business (at its core taking deposits and making loans), how are the regulators going to mesh these laws together in their regulatory activities?
Once you understand that the central bank is really part of the state in modern capitalism, and that the crisis has made it the most important and powerful part, that allows you to understand almost everything else.
A. before joining First Chicago (now part of JPMorgan Chase ), where he helped the bank move from an old mainframe computer system to modern servers.
For one, it has a common central bank that automatically transfers reserves between member states, thereby avoiding the modern equivalent of a country running out of gold.
As China works to make its capital markets more modern and efficient, a system that allows investors to better understand the central bank's policy leanings is becoming more critical.
But it does involve a man and a woman on the road together and a modern-day form of robbery using online scams and bogus bank accounts.
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The good burghers of restoration England, then, understood what many modern politicians do not, or purport not to: a central bank is part of the state.
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