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The Bank of the U.S:
This bank was established as it needed to create a form of united payment to cover the Revolutionary War debts and connect the states. All of their orders were meant to fix those problems as instructed by Alexander Hamilton, the Secretary of Treasury. As influenced by Greeks they created the system of bills that will unify the country, and even used the eagle as the main symbol. The Eagle was the national bird for only 14 years at the time. http://www.ushistory.org/tour/first-bank.htm -
Second Bank of the US
This proved that a national bank was necessary to fund the cost of a war, like the most recent at the time: The War of 1812. Since, the currency was already agreed upon, the functions of the bank were just mandatory to prevent a nationwide debt. It worked well, until Andrew Jackson disbanded it in his revolt against the system. http://www.ushistory.org/gop/tour_secondbank.htm -
Civil War (Printing Currency)
Throughout the Civil War time period of about 1861-1862 the currency was changing in the United States. The Greenbacks that were used after the Revolutionary War was making a comeback. Greenbacks are paper money, and were used negatively as everyone opposed to changing. They would be similar as to what we use now, and were used by the Union. Confederate dollars failed as a result of the war. These concepts were based off face value. http://www.investopedia.com/terms/g/greenback.asp -
National Banking Act
This was the first national bank that was given a charter from the federal government, instead of the state, which gave full power to the feds. They proceeded to put in a string of laws to give the federal system even more authority and benefit their participants. The two main goals of this act was to provide money to pay for the Civil War, and then make a currency that everyone agreed upon. This made a first draft of the current dollar bill, or note.http://www.let.rug.nl/usa/essays/general/a-br -
Federal Reserve Act
The Federal Reserve Act was meant into gain an access to stability to the American citizens when the recession towards the Great Depression. The point of the act was to allow the federal government the ability to print extra money to compensate to the economic situation. This was the timer era where the discount rates and bond/bill procurements were made to produce manipulation among national banks. http://www.investopedia.com/terms/f/1913-federal-reserve-act.asp -
Great Depression (Regarding and Banking):
During the Great Depression, that occurred throughout the 1930's, posed multiple threats to banking system in the United States. Hundreds of the state banks shut down, and lost their investor's money. It almost turned off the citizens from banks for good, along with the stock market after it collapsed. The money, trust, and need for banks diminished as thousands of people went into poverty, daily. http://www.livinghistoryfarm.org/farminginthe30s/money_08.html -
Glass-Steagall Banking Act
The Glass-Steagall Act was originally an aspect of Roosevelt's New Deal, but made it into the economy later on. It's purpose was to prevent another Great Depression affecting the banking system, and allowing them to lose tons of cash. It banned commercial banks engaging in investments. That made it a fundamental part of the system that prohibited the citizens from losing their money if they bank collapsed. http://legal-dictionary.thefreedictionary.com/Glass-Steagall+Banking+Act -
1982 (Regarding Banking)
The 1982 scandals in relation to banking was called the S&L Crisis which led to global credit lose and massive debt for taxpayers.The insurance towards the banking system erratically changed, which prevent the government from manipulating the economy. That made it impossible for it to rise and fall with the time, and posed a problem. It made credit seem desirable, but very few people understood that they still had to pay. http://www.investopedia.com/articles/financial-theory/banking-crisis-1980s -
Gramm-Leach-Bliley Act
This Act created the opportunity to take out a loan, and find financial advice from the bank company itself. Instead of going blindly through the system the Gramm-Leach-Bliley Act promoted assistance to the up and coming youth. This also made loans available if you couldn't immediately afford a product, but this led to a decrease in a housing crash that occurred in the 2000's. https://www.ftc.gov/tips-advice/business-center/privacy-and-security/gramm-leach-bliley-act
