The Great Texas Banking Crash
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The Great Texas Banking Crash
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Author : Joseph M. Grant
language : en
Publisher: University of Texas Press
Release Date : 1996-01-01
The Great Texas Banking Crash written by Joseph M. Grant and has been published by University of Texas Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-01 with Business & Economics categories.
During the decades from 1982 to 1992, Texas banks failed at a rate unprecedented in United States history, even including the Great Depression of the 1930s. In all, 506 Texas commercial banks failed (accounting for 36% of all failures nationally), including seven of the ten largest banks in Texas. In this fascinating insider's account, Joseph M. "Jody" Grant, former chairman and chief executive officer of Texas American Bancshares, Inc. of Fort Worth (the seventh largest), tells the story of the collapse of Texas' major banks. He vividly re-creates the three-year struggle to save his own organization, Texas American Bancshares. This sobering account makes a compelling case against the FDIC's handling of Texas' financial crisis. In Grant's view, the bank failures have deprived Texas of the engine of capital that spawned the nation's third largest industrial economy, built Texas' major cities, bankrolled its entrepreneurs, and provided a pool of talented business and civic leaders. Grant's book will be thought-provoking reading for everyone in the financial community, as well as for students of Texas history and of business and government relations.
Panic In The Loop
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Author : Raymond B. Vickers
language : en
Publisher: Lexington Books
Release Date : 2011
Panic In The Loop written by Raymond B. Vickers and has been published by Lexington Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Relying on a broad array of records used together for the first time, Panic in the Loop reveals widespread fraud and insider abuse by bankers--and the complicity of corrupt politicians--that caused the Chicago banking debacle of 1932. It provides a fresh interpretation of the role played by bankers who turned the nation's financial crisis of the early 1930s into the decade-long Great Depression. It also calls for the abolition of secrecy that still permeates the bank regulatory system, which would have prevented the Enron fiasco and the financial meltdown of 2008. This book focuses on the recurrent failures of the financial system--the savings and loan crisis of the 1980s, the Enron debacle of the early 2000s, and finally the financial collapse of 2008. Because of regulatory secrecy, knowing what happened in Chicago in 1932 is critical to understanding the glaring problems in the regulation of American finance, in particular the lack of transparency, the abuse of financial institutions by insiders, and the capture of public institutions by insiders going through the revolving door between the private and public sectors. Eight decades later little has changed. The regulatory failures of the 1930s--especially the pervasive system of secrecy that allowed the fraud and insider abuse to flourish--were repeated during the collapse of 2008. Transparency would strike at the alliance between the executives of financial institutions and public officials, who caused the worst economic upheaval since the Great Depression.
The Banking Panics Of The Great Depression
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Author : Elmus Wicker
language : en
Publisher: Cambridge University Press
Release Date : 2000-12-04
The Banking Panics Of The Great Depression written by Elmus Wicker and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-12-04 with Business & Economics categories.
This is the first study of five US banking panics of the Great Depression. Wicker's findings challenge many of the commonly held assumptions about the events of 1930 and 1931, and will be of use to monetary and financial historians and macroeconomists.
Banksters Bosses And Smart Money
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Author : Timothy Messer-Kruse
language : en
Publisher: Ohio State University Press
Release Date : 2004
Banksters Bosses And Smart Money written by Timothy Messer-Kruse and has been published by Ohio State University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Banksters, Bosses, and Smart Money uncovers the causes of one city's economic collapse by tracing the interlocking directorships, political machines, and insider deals that made quick fortunes for the well-connected while jeopardizing the savings of tens of thousands of depositors. It documents how the power of the city's financial elites continued even after the calamitous bank crash of 1931, skewing the liquidation of insolvent banks in their favor and shielding those responsible from criminal prosecution.
Borrowed Time
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Author : James Freeman
language : en
Publisher: HarperCollins
Release Date : 2018-08-07
Borrowed Time written by James Freeman and has been published by HarperCollins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-07 with Business & Economics categories.
The disturbing, untold story of one of the largest financial institutions in the world, Citigroup—one of the " too big to fail" banks—from its founding in 1812 to its role in the 2008 financial crisis, and the many disasters in between. During the 2008 financial crisis, Citi was presented as the victim of events beyond its control—the larger financial panic, unforeseen economic disruptions, and a perfect storm of credit expansion, private greed, and public incompetence. To save the economy and keep the bank afloat, the government provided huge infusions of cash through multiple bailouts that frustrated and angered the American public. But, as financial experts James Freeman and Vern McKinley reveal, the 2008 crisis was just one of many disasters Citi has experienced since its founding more than two hundred years ago. In Borrowed Time, they reveal Citi’s history of instability and government support. It’s not a story that either Citi or Washington wants told. From its founding in 1812 and through much of its history the bank has been tied to the federal government—a relationship that has benefited both. Many of its initial stockholders had owned stock in the Bank of the United States, and its first president, Samuel Osgood, had been a member of the Continental Congress and America’s first Postmaster General. From its earliest years, Citi took massive risks that led to crisis. But thanks to private investors, including John Jacob Astor, they survived throughout the nineteenth century. In the twentieth century, Senator Carter Glass blamed Citi CEO "Sunshine Charlie" Mitchell for the 1929 stock market crash, and the bank was actually in violation of the senator’s signature achievement, the Glass-Steagall law, in the late 1990s until then U.S. Treasury Secretary Robert Rubin engineered the law’s repeal. Rubin later became the chairman of the executive committee of Citigroup, helping to oversee the bank as it ramped up its increasing mortgage risks before the 2008 crash. The scale of the financial panic of 2008 was not, as the media and experts claim, unprecedented. As Borrowed Time shows, disasters have been relatively frequent during the century of government-protected banking—especially at Citi.
History Of The Eighties An Examination Of The Banking Crises Of The 1980s And Early 1990s
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Author :
language : en
Publisher:
Release Date : 1997
History Of The Eighties An Examination Of The Banking Crises Of The 1980s And Early 1990s written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Bank examination categories.
A study by the FDIC staff to examine and analyse the banking crisis of the 1980s and 1990s.
Panic In Paradise
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Author : Raymond B. Vickers
language : en
Publisher: University of Alabama Press
Release Date : 1994
Panic In Paradise written by Raymond B. Vickers and has been published by University of Alabama Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
Even when lawsuits disclosed the chicanery, state and federal regulators misled the public. Despite the official denials, the public panicked. The ensuing runs caused the banking crash.
A Banking History Of Texas 1835 1929
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Author : Avery Luvere Carlson
language : en
Publisher: Copano Bay Press
Release Date : 2007
A Banking History Of Texas 1835 1929 written by Avery Luvere Carlson and has been published by Copano Bay Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
The history of banking in Texas from the Republic era through the Great Depression is a tale of uncertainty, distrust and confusion, but it is not without a cast of heroic figures. This is the story of the pioneering institutions and individuals that laid the foundation for the current system of banking in Texas, despit enormous legislative and economic obstacles. The Texas Revolution, repeated constitutional prohibitions on banks, civil war and unstable economic conditions hampered the development of an established system of dependable institutions. From the embattled history of the first bank chartered in Mexican Texas (The Commercial & Agricultural Bank) to far more obscure firms, the essential facts are here. The product of years of research drawing on primary documents, this work has been cited extensively in subsequent works relating to Texas and southern banking. Originally published in 1930 by the Fort Worth National Bank upon the death of the bank's founding father, this title has been out-of-print since. This new edition has been wholly revised and re-designed for improved readability.
Ben Love
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Author : Ben F. Love
language : en
Publisher: Texas A&M University Press
Release Date : 2008-06-20
Ben Love written by Ben F. Love and has been published by Texas A&M University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-20 with Business & Economics categories.
In a city known for powerful business leaders, Ben Love towers as one of the most influential. Serving as CEO of Texas Commerce Bancshares in the 1980s, during the collapse of the Texas banking industry, Love had an inside view of the debacle. His story, told here in detail for the first time, provides an insightful perspective on the Texas banking industry’s evolution after World War II, its decline, and its subsequent recovery. It also offers a glimpse into of the kind of character that creates men of power. Love grew up with his family during the Great Depression. Their farm outside Paris, Texas, taught him hard lessons about opportunity and financial security lessons that would serve him well in the future. After Americas entry into war in 1941, Love flew 8th Air Force B-17 combat missions over Europe, then settled in Houston with his business degree in the late 1940s. His entrance into the world of banking began as a member of the board of directors for River Oaks Bank & Trust. Houston was rapidly growing into a metropolis, and he accepted an offer to leave River Oaks to join Texas Commerce Bank in 1967. As president of Texas Commerce Bank (TCB) in 1969 and CEO in 197289, Love cultivated change from single banks to holding companies, garnering a national reputation for his banking organization. In 1984, Texas Commerce was the twenty-first-largest bank in the country. Under his competent management, TCB was the only Big Five Texas bank to survive the economic downturn. One reason for its continued success lies with Loves successful merger in 1987 with the Chemical Bank of New York, now J. P. Morgan Chase. When he retired at the close of the decade, he turned his formidable energies to full-time civic and humanitarian work. Ben F. Love’s memoir is one of only a few available in financial literature and history. Not only does it reveal an inside look at the evolution of banking in Texas, but it will serve as an instructional guide to future business leaders and managers. The final chapter summarizes the experiences and lessons sprinkled throughout eighty years of a powerful and productive life.
The Banking Crisis Of 1933
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Author : Susan Estabrook Kennedy
language : en
Publisher: University Press of Kentucky
Release Date : 2014-07-15
The Banking Crisis Of 1933 written by Susan Estabrook Kennedy and has been published by University Press of Kentucky this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-15 with History categories.
On March 6, 1933, Franklin D. Roosevelt, less than forty-eight hours after becoming president, ordered the suspension of all banking facilities in the United States. How the nation had reached such a desperate situation and how it responded to the banking "holiday" are examined in this book, the first full-length study of the crisis. Although the 1920s had witnessed a wave of bank failures, the situation worsened after the 1929 stock market crash, and by the winter of 1932-1933, complete banking collapse threatened much of the nation. President Hoover's stopgap measures proved totally inadequate, the author shows, and by March 4, the day of Roosevelt's inauguration, thirty-four states had declared banking moratoriums. Of special interest in this study is Ms. Kennedy's examination of relations between Herbert Hoover and Franklin D. Roosevelt.