Monthly Archives: March 2010

Geography Can Provide Better Banking Services

Our Failed Financial Institutions Need to Meet Their Community Covenant

We dodged a bullet. The global economic meltdown, which saw 140 banking organizations closed in the U.S. in 2009, has affected every industry and sector of life. Governments spent billions trying to correct systemic failures that began with the subprime mortgage crisis and led to a vicious cycle of reduced credit, business bankruptcy, and soaring unemployment. A 1930s-style depression was avoided at great cost to our public and private financial systems, but it could have been much worse. Continue reading

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