Review
Jeremy Taylor argues that banking change in the U.S. is most often driven by crises that occur due to lack of timely action by the legislature and government. His three-part treatise begins with a discussion of the process of change in American banking, highlighting the five major bank crises since 1779. A middle section discusses the problems caused by changes in banking, with emphasis on the current savings ad loan situation. Possible solutions are set forth in the last section: the creation of a new financial instrument that would allow investors to share in the ownership of bank loans, the amendment of the Glass-Steagall Act, and the creaton of debt-reduction summits for the major debtor nation of the Third World.Business Information Alert

Book Description
Taylor focuses on the recent changes in the U.S. banking system, analyzing the underlying reasons for these changes and proposing solutions to problems plaguing the industry. The author examines the current banking crisis against the background of historical changes in U.S. banking, demonstrating that banking change in this country is most often crisis driven--due primarily to the failure of the legislature and the government to solve major problems before they become major crises. The considerable influence of politics on the U.S. banking system is also explored in depth.

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