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Banking disaster has detrimental effects on the rest of the economic system. The Fed trimmed its key fee by 50 foundation overnight, two weeks earlier than its scheduled meeting on March 17 and 18, as Chairman Jerome Powell mentioned he saw a risk to the economy, and selected to act.” The move was the primary inter-assembly fee action, as well as the largest cut in a single fell swoop, for the reason that collapse of Lehman Brothers Holdings in 2008 roiled international monetary markets. We, as a nation,are no more than slaves to the worldwide banking neighborhood. And our legislators have abdicated their accountability to protect the American people. In a word, shameful. Banks shall be too massive to fail until America ultimately repudiates all Republicans and Democrats as being professional defenders of the people.

Sweden is an important case for examine, as its commercial banking system was an integral a part of financial modernisation and should in most respects be deemed to have been fairly successful (see as an illustration Hansson & Jonung, 1997 ; Ögren, 2009 ). Sweden was certainly one of Europe’s latecomers in terms of economic improvement, but there are several vital lessons to be learnt …