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The problem
The natio has no reliable medium of exchange. Federalists and Antifederalists disagree about a banking system. -
A Proposition
Hamilton proposed a national bank that could issue a single currency for the entire nation. -
The First Bank
First Bank of U.S. established -
A fatal Duel
in 1804 the bank lost its main backer Vice president Aaron Burr to a duel -
A Fatal Duel
In 1804 the bank lost its main backer Vice President Aaron Burr to a duel -
Period: to
The Fall of an Idea
Period of instability follows expiration of first bank -
It is Overcome
Second Bank of the U.S. reestablishes stability -
Banks constitutional
Supreme Court had ruled a national bank constitional -
Another Leader
Nicholas Biddle was the second Banks President. -
Another Leader
Nicholas Biddle was the second Banks President. -
Period: to
Destroy one thing to bring rise to another
President Jackson vetoes recharter of second bank, in 1832 giving rise to free banking era. -
Papel por dinero
the U.S. issued its first, paper currency. -
Period: to
Let War Bring problems
Cicil War makes clear the need for a better monetary and banking system. -
Period: to
To Acts
National Banking Acts of 1863 and 1864 established national banking system and uniform national currency -
Oro
gold standard adopted -
Panic to solutions
Panic of 1907 leads to creation of the federal Reserve system -
The Presidents signature
President Wilson signs the Fied. -
Being Robbed without knowing
Banks lown money to many high-risk businesses. -
Depresion
Great Depression begins and Stock Market crashes -
A savior from Depresion
President Roosevelt helps restore confidence in the nations banks by establishing FDIC. -
Period: to
Regulation=stability
Period of government regulation and long term stability -
Period: to
The Law of Clarity
New Laws make clear the rights and responsibilities of Banks and consumers -
a Rupture in the system
Period of deregulation, S&Ls face bankrupteres -
"Congresses Finest"
Congress passed the (FIRREA) -
Seagulls, its a federal law dont feed them
Congress repealed the 1933 Glass seagull -
A Journey succesful
After two decades of mergers, the banking system emerges stable and healthy.
