A bank is a company that makes the trade of the money . It can perform various activities: receive and maintain on behalf of his clients their money, offering a variety of investments ( savings ), providing means of payment (check, credit card, etc.). and currency lend money involved financial markets on its behalf or that of its customers and generally be responsible for all financial services. We distinguish commercial banks from investment banks by type of activities they engage.

Banks are subject to strict legislation and exercise of control. In particular, the collection of deposits, the distribution of credit and payment services “bank” (checks, credit cards, transfers, etc..) Activities are reserved for banks and are subject to prior authorization due to the importance of these activities in the economy of a country. They provide for the state traceability of financial transactions and contribute to the fight against trafficking.

Legal definition

In a legal definition banks are financial institutions doing banking transactions as defined by law and subject to the laws and regulations related. In France, Article L311-1 of the Monetary and Financial Code provides the following definition: “The banking operations include the receipt of funds from the public, credit operations, as well as banking payment” .
Types of banks

There are several types of banks according to the activities they undertake (bank deposit, investment banking, banks specialized in one type of loan, bank general etc.), their relationships with their customers (the impersonal relations piecemeal “spot banking”; more personalized relationship to long term).
In addition there is often in a given currency area, a particular bank: the central bank . The bank provides ticketing and sets monetary policy .
The diversification of banks

Financial concentration and development of giant multipurpose financial institutions (bank deposit, insurance, life insurance, asset management, banking, foreign exchange, brokerage firm, etc.). Blur the old distinctions, d especially since the bank now manufactures products sold off-balance sheet and managed by ad hoc companies (such as SPV , Special Purpose Vehicle, and securitization products) are currently not subject to banking laws. Globalization is another force that has substantially changed the scope of traditional banks. Meanwhile the financial disintermediation has seen financing functions formerly carried out exclusively by the banking sector carried out without assistance.
History

The banker Jacob Fugger with his accountant . Records behind them cite the names of branches of the house Fugger truly Rome, Venice, Krakow, Lisbon, Innsbruck, Nuremberg, etc..
The history of the bank follows the major stages in the history of money even if some customary financial transactions of banks, (such as lending at interest) have been reported since ancient times even before the invention of money .

Sketches: Antiquity and Middle Ages

The trapezial Italy are the equivalent of what would later changers. The trapezisti , in Italian, is the table on which settled the exchange of experts who buy and sell tickets the different coins circulating in Italy. These specialists, whose nuclei are protected, receive deposits and can play an intermediary role in the sponsorship including shipping. They may occasionally make loans, but have no monopoly. The temples also store coins and can occasionally lend.
The same situation ppi claims in Rome with monetarii that are associated with mints coins and argentarii who are the financiers of the time. The higher orders have large Roman fortunes and engage in speculative activities and lending. Unable to perform these activities in their own name they use much of nominees who get rich that way and also become practicing financial credit. Commercial law is born which gives force of law to financial practices despite resistance from moralists who swear by the land revenue.
This characteristic of antiquity where there are bankers but no bank in the institutional sense, will continue throughout the period of the Middle Ages. Monetary regression that characterizes this period and the religious prohibition against lending at interest, in Europe reduce the foreign exchange and credit. The remaining circuits of commerce and monetary transactions of kings, allow a small community of financial and generally Syrian Jews, to continue lending, foreign exchange, investment in emissions of coins minted by mints made and speculation on the price differences between gold and silver between different places in Europe and Byzantium.

It is from these bases as the expansion hesitant economic, political and commercial xiii th century century goes to affirm the role of private capital and build the first banks in the movement of religious authorities, state and commercial. Finance and the first Italian banks Changer box (1655) The word bank appears in the French language in the middle of the xv th century 1 . In the late Middle Ages , the activity of changer of money had developed over the proliferation of currencies . The bankers Lombard then bring two innovations fundamental to the base of the rise of capitalism West: the current account , made ​​possible by the invention of concurrent double-entry bookkeeping and the letter of credit . Now, merchants can move and trade more calmly, without having to carry large sums of money on the roads unsafe even in Europe. Banks are the first family include the Medici in Italy, the Fuggers in Germany that open banks in major Vietnamese translation cities. As stated Jean Favier , “the bank was born trade, needs as its opportunities” 2 . But the great financiers enrich their relationship with government. The Medicis were the financiers of the Church of Rome for the benefit of which they collect and centralize the ecclesiastical tithe. Christian dogma, Joann Fabric coupons which considered the usury as a sin, is no longer respected, the introduction of the new concept of “purgatory” for the theological laxity. This is not about to let the Jews exclusive of the pension credit. The Fugger play their part to Charles V as he is the main banker of the Germanic Europe. The failure of Fugger follow that of imperial failure of Charles V. The Bank of Amsterdam is closely monitoring the political fortunes of Orange. The expansion of bank XIX th century During the industrial revolution, banks also play their role in promoting industrialization through savings accounts. Some bankruptcies, such as the system of Law at the xviii th century , impose prudential principles essential to the functioning of this activity based on trust. Thus the bankers of the High Bank of xix th century were convinced that their strength lies in strong equity clients who put their confidence and enable them to obtain deposits. They accumulate and invest in the development of trade and industry. During booms, they realize, by selling their investments, substantial gains and further increase their capital. Family dynasties of high finance to development banks in Europe with Rothschild , Lazard and Stern . But a loss of depositor confidence can occur and the inability to liquidate assets reasonably then causes the bankruptcy of the banker unable to return the deposits of its customers. Jacques Laffitte is so, despite the accumulation, in 1825, more than seven million francs of capital, threatened with bankruptcy and must liquidate part of its heritage. The Credit Mobilier of France , brothers Pereire , with a capital of 120 million francs, and whose support to the most innovative of the era is undeniable, does not stand up to the crisis of 1867. Credit Lyonnais to be almost take during the crisis of 1882. Henri Germain , the founder, noting that capital ensuring the solvency ratio was not enough, invented the modern French bank in determining the “golden rules” of Liquidity: The availability of the bank’s assets must match the liability of its debts: “We must now, wrote the Paris headquarters of the bank, we have always in the form of cash, of London, bankable 3 , reports of an amount equal to that of our deposits and our accounts payable ” . Its assets are immediately available between 1884 and 1893 from 88% to 100% of liabilities instead of 34.5% in 1881 4 . The acceleration of motion is the fact that Napoleon reorganized the banking and enables the widespread use of the check. The first half of the XX th century.The banking crisis of 1907 and two world wars and the crisis of 1929 does not support the expansion of the banking sector. Experience shows that the generalization of the central banks’ lender of last resort “does not guarantee financial stability if the rules do not provide minimum banking prohibitions in terms of financial speculation. In the U.S. almost 10,000 banks that go bankrupt before 1935. In France they are hundreds of them.

After the Liberation the Bank of France is largely marginalized in favor of the Treasury , as a sanction for its passivity and ineffectiveness. Until the reforms of Michel Debré in the mid- 1960 , the Treasury shall conduct the credit policy. chiropractic marketing Banks have primarily involved the collection. At the end of World War II all the banks are not nationalized (as in France for commercial banks) but all the laws are very restrictive. The legislation separates the different types of institutions and strictly credit. Innovation is the development of the checking account explodes in France from the time the law requires the payment of wages in bank accounts and credit card. Begun in the United States in the 1950s credit cash loans card massively developed in France from the 1970s.
Exchange control is the rule. The states are responsible for their exchange rates. The bank does the rest nationalism: international banking is growing very slowly mainly from the U.S. bank and English.
The big bang of finance since the 1980s
With the advent of floating exchange rates and a care to keep its exchange rate, the states relaxed their grip on the far hcg diet drops bank. Party of the United States, relayed by the funds in London, a vast movement of deregulation of the banking industry was born. The distinctions between mandatory deposit banks and investment banking are removed. The banking and insurance can mingle. Banks can become a stockbroker. The concept of universal banking is gaining ground along with concentrations occur. Financial practices are also changing. Floating exchange rates offer the opportunity for banks to hedge currency risks. The speculation is widespread including on interest rates, currencies, and all forms of assets. There has been movement in all directions: financial disintermediation on one side, hyper-technical nature of the other. The hedge funds are emerging in the 1990s. At first reserved for large fortunes in a lot of profit on, they open banks in the 1980s. UBS for example will have its hedge fund and an internal department with which he is competing. The fees are becoming increasingly important in the net banking income, largely replacing the benefits of credit. Bonuses are spreading along with the activity of trading room. The internationalization is accelerating largely constrained by national considerations. The bank in Europe remains largely ” balkanized . ”
The XXI th century and its first blu cigs coupon major crisis
The crisis in subprime in 2007-2009
Main article: Financial crisis of 2007-2009 .
The major financial Medigap Plans crisis that began with the glaciation of the market for CDOs and by blocking the interbank market calls into question a widely economy became too much financial and speculative [ref. needed] . The majority of Anglo-Saxon banks is found in a state of near bankruptcy and must be partially nationalized or reinforced by public capital. Deregulation is disputed. Everywhere “credit is dead” in the words familiar causing the blockage in many markets. International trade for the first time since the end of World War II between declining. The fall is extremely brutal. The rush to widespread deposits shall free ipad be eliminated soon. The banks most affected are those that are most heavily exposed to the risks of modern finance: Citigroup, Lehman Brothers , RBS or UBS … The race for size, versatility, internationalization and high-tech all-out, have had serious consequences for some players.
The severe financial crisis that develops from the auction block on the CDO in July 2007 [ref. needed] and has grown with the bankruptcy of many banks during the year 2008 until September 2008 crash and the collapse of Lehman Brothers, calls into question all the structures of the banking sector as a whole. This results in a massive and unexpected return of state intervention in their capital, up to the nationalization of fact in many cases.
Activities of a bank

The Danske Bank , Danish bank in Copenhagen (Denmark)
The money management and services provided to individuals and households
Banks provide to depositors a range of services:
Security: the bank is a safe place where money is normally more protected than private homes. It provides boxes for storing Wire Shelving values. Note, however, that a deposit is in fact a free loan to the bank using the cash received immediately to finance its activities. In case of bankruptcy of the bank deposits are lost subject to the safeguards provided by the State.
means of payment: bank mobilizes its deposit account in several ways:
It provides checks and ensure the settlement via the system of compensation .
It provides payment card type Monéo which will be kept in electronic money
It allows transfers to other bank accounts.
It provides on request of the species , the central bank notes and coins.
It provides an account of movement of funds.
It provides travelers checks .
It provides bank checks for certain transactions secure.
It provides foreign exchange.
It provides the means of transferring funds abroad allowed in other banks.
It can collect cash (retail), and the record count.
The vast majority of these operations are not free. The state, by imposing, for example, the payment of wages by bank transfer to bank accounts, has mandated the use of banking.
The banks created in the last thirty years a very tight network of branches to provide these services to individuals. This presence has radically changed the physiognomy of cities [ref. needed] . The trend is to perform most operations either by tellers but by the user himself. Many banks no longer provide tickets at their counters and require to go through ATMs or ATMs. They involve the provision of a credit card charge, allowing a double gain (charge cards and personal economy). Even the provision of account statements is now self-service in banks such as BNP. cheap car insurance The thrust of spa cover the Internet has allowed the establishment of bank branches but without referral to the Internet via secure procedures, most of the transactions relating to the operation of the checking account: consultation on the position and movements, transfers, request check books etc.. Internet services are stretch mark cream also charges by the bank earns twice [ref. required] : economy of personnel and billing fees.
In France, checks have long been free, reputation management such as implicit compensation for non-payment of deposits.
Some authors such as Nobel Prize French Maurice Allais , have long fought for the loans are 100% covered by longer term deposits ( 100% change ) and that banks charge to market their services as the provision of means of payment, including checks. This solution would prevent account holders fear for their ave every crisis of confidence. The steady decline in the share of bank deposits in the resource makes this suggestion less difficult to accept by banks.
The provision of credit and investment instruments
Companies
The first specific service banking business is the management of drafts ( LCR , promissory note ). The discount of bills is one of the historical activities of banks. It is still important in France where trafficking was tenacious of life, less in others. The discount of bills of credit is k2 incense relatively short.
The documentary credit is a credit document shall in general commercial transactions with foreign countries.
The overdraft has gradually become the primary mode of short-term loan. It is generally given in exchange for obtaining collateral and guarantees on the assets of the company or its management.
With the de-specialization, banks generally can practice all forms of credit or long term, prudential rules and different techniques according to economic sectors. Leasing , financing working capital, inventory, purchases equipment, real estate transactions, all compartments of the assets of a company can benefit from the support of banks.
Operations on the liabilities that were the preserve of investment banks are now being implemented by all universal banks.
This may be of IPO , the LBO , the issuance of obligation , to sell or buy other companies, equity, debt restructuring, bridge financing, securitization customer debt, etc..
Companies are now able to directly fund various markets, the banking industry has responded by reducing its role as lender and increasing that of service provider, no longer dependent on his salary and commissions under the credit activity itself [ref. needed] .
In fact, banks are placed in all phases of business life: birth, expansion, IPO, mergers, acquisitions, restructuring, side exit, disposal, etc..
They may also act on credit to customers of businesses they free iPhone ringtones serve. This applies to real estate sectors (we ready simultaneously to developers, businesses and buyers), aviation (we finance the construction and purchases by large customers), automotive (on finance stocks and same time the purchase of fleets by companies and car loans to individuals through specialized subsidiaries).
One of the most common challenges for these activities comes from SMEs, which unlike the major groups in general very difficult to get financing including recession or bad business climate. The overdraft is systematically removed causing severe cash flow difficulties exogenous and independent of the health of the companies in question.
Individuals
It offers a range of short-term investments such as accounts or savings plans, cash market funds and other investment instruments almost liquid.
It makes financial products more or less complex they provide asset managers. They can have their own asset management department
Inbreeding between asset management and production of investment funds has often been denounced as a source of conflicts of interest, the bank can use the management mandates for asset management to support its own investment products in which could be placed products more or less toxic.
The massive introduction of CDO in money market funds called dynamic demonstrated the dangers of the asymmetry in knowledge between risk managers and individuals. The bank received an extremely important part of the commissions and the other introduced non risk perceived by customers.
Similarly, the introduction of products of different scam like Madoff funds in the accounts managed under contract in return for very high commissions is the subject of severe criticism, especially for customers of Swiss bank UBS. It is generally expected some caution and audits of the reality of titles included in the portfolios. Experience has shown that this hope could not be exactly valid, the appeal commission to outweigh all other considerations.
The bank may also make payments to place securities in such an IPO and earn commissions on portfolio mandates that feeds on these securities not for the better care of the customer but for his own. The most grotesque is that of action Wanadoo introduced by some very high during major French banks and withdrawn at half price some time later. Discretionary portfolios were gorged with these titles and have lost 50% of their value without that investors can react. The bank has won twice on a losing operation for its customers.
These excesses are voices explain that to ban double dipping by the asset managers. Affect both management fees and commissions and also fees on securities distributed is it acceptable? Even Crossfit Denver if the reality of these operations is partially masked by the fact that these are different parts of the bank or subsidiaries that provide these different double payments?
Another aspect of this is due to management activities for own account of the bank may acquire securities speculation and dangerous that it is easy to pass accounts in asset management. It was noted in the U.S. that much of securitized products at high risk and high commissions were first mounted in the management framework for its own account before being sold to investors with commission. Ongoing trials in Switzerland against the UBS for similar operations (creation of ABS and then transfer to small savers.
At the State
Since the central bank can not directly fund the Treasury through the creation of currency, a standard that has become increasingly widespread and is particularly used by trottinette freestyle the ECB under Article 104 of the Maastricht Treaty, it is commercial banks and money markets that finance public deficits. Of countries like France are in a state of almost couette constant deficits since the 1974 crisis saw their debt soar and represent a growing share of net banking income. In France the credit to local governments has also significantly increased in proportion to the considerable extension of their budgets for decentralization.
Again, many voices against a virtually captive lending bank paleo diet lifestyle sees benefit for its own account of the retirement money creation at the expense of the state, while the seigniorage of funding would be acquired in notes the State. Indeed, bank lending to the State only increase the deficit. Thus, increasing taxes for shareholders of banking institutions.
The provision of guarantees, sureties, and various protections
This section is empty, insufficiently detailed or incomplete. Your help is welcome!
guarantees change.
The life insurance.
The insurance on deposit balances.
the bond.
Bancassurance
Main article: Bancassurance .
Type

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Reorganization and clarification of the content are needed. Discuss areas for improvement in discussion page .
The typology of banks, strong when the law imposed in the contours, has released many from the 1980s, in favor of a universal banking and insurance giants in the form of electronic cigarette limits misidentified. What we now call “bank” is usually a financial conglomerate that does not support the business of banking in the legal sense.
By business

Block diagram of parts of the financial
All banks, headed by the central bank, as the banking sector of a currency area . We can distinguish different types of banks according to their role.
A central bank ‘s role is to regulate and supervise the operations of individual banks to lit ensure their solvency in respect of depositors, supervising the production of currency by banks, and to regulate the use through the interest rate . The economic theory sees a way to regulate growth through the encouragement of savings or consumption , and act on the inflation .
The deposit banks (in English: commercial banks ) work mainly with clients, individuals, professionals and businesses, receive deposits, make loans and are traditionally separated from the retail banking (in English, retail banking ) to individuals, professionals and small and medium enterprises , or investment bank (in English, wholesale banking ) for medium and large businesses. The investment bank (in English, investment banking ) is active in the financial markets , undertaking financial transactions such as bond issues, How to Lose Weight Fast sales of shares in initial public offerings, mergers and acquisitions, etc. .
Increasingly, retail banks and investment are mere subsidiaries of diverse groups that include sometimes the insurance , management of investment funds or other financial activities. Frequently, they relate to the subsidiary investment banking activities banking .
In the U.S. , the Banking Act of 1933 , better known as the Glass-Steagall Act , imposed a strict separation between the activities of retail banking , which receives deposits and makes loans and investment banking , which conducts securities transactions and securities. Adopted at the height of the crisis of 1929 , this law was to prohibit the repetition of what, at the time, was perceived in public opinion as home loans south africa one of the causes of the stock market bubble and speculation in shares retail banks. Undermined since the deregulation of U.S. financial markets on 1 st May 1975 , the Glass-Steagall Act fell gradually [ref. needed] into disuse and eventually car insurance disappeared in the fall of 1999 ( Gramm-Leach-Bliley Act Financial Services Modernization Act of 1999 ) to allow the constitution to the United States of large universal banks , like Citigroup .
There are banks that specialize in no no hair removal a specific segment, usually from a previous regulation or, in France, the distribution in the past of some subsidized loans :
Banking experts in consumer credit,
or conversely, bank specializing in asset management,
Banks specializing in mortgages,
banks specializing in leasing business,
specialized banks in the financing of a particular economic activity (agriculture, coffee shops, art trade, oil, etc.).
By form of ownership
It also distinguishes banks according to how their capital (and therefore their governance) is organized.
A cooperative bank (sometimes called mutual) is controlled by its members who hold shares and often its customers. This is a regime that comes from the cooperative spirit initiated including the agricultural (see cooperative , mutual ). Cooperative banks may be partially listed (in the case of some Regional Banks farm that opened a part of their capital in the form of cooperative investment certificates, capital securities without voting rights). A cooperative bank may also invest in listed subsidiaries (holdings or otherwise), such as the ICC in the case of Crédit Mutuel, Natixis for the People’s Banks and Savings and Credit Agricole SA to Credit Agricole .
Commercial banks are corporations whose capital is owned by shareholders and are generally listed on stock exchange
A bank can be owned by the state. In Germany , the Landesbank are a Carpet Cleaning London shareholder Land .
In each country, there are one or more professional organizations that represent the banks, sometimes depending on their type. The French Banking Federation is the trade organization representing all banks operating in France: commercial, cooperative or mutual, French or foreign.
How a bank makes money

The net banking income of banks is the difference between revenues and operating expenses. It comes from:
billing financial charges (the bank charges ) on operations
commissions on financial services (credit cards, etc.).
interest earned by placing and paying the money deposited by their customers
the seigniorage associated with the creation of money : commercial banks are allowed to pay about fifty [How?] [ref. needed] times that their customers deposit with it
activities of investment bank
billing expenses related to asset management activities
Regulation

Apart from the central banks already mentioned above, financial institutions are subject to the authority of different bodies and regulatory supervision, according to the country and regulations. The European Union has set up the CESR , Committee of European Securities Regulators and the CEBS Comittee of European Banking Supervisors .
In France , the Financial Markets Authority (AMF) includes the former Securities and Exchange Commission and the Capital Markets Board . The AMF represents France in the CESR of the European Union . The Committee of Credit institutions and investment firms (CECEI) depends on the Banque de France and is responsible for issuing licenses for new establishments. Prudential supervision and control of credit institutions is entrusted to the Banking Commission whose secretariat is provided by the Banque de France . The CECEI and the Banking Commission were merged with the ACAM (Insurance Supervisory Authority and mutual) buy backlinks and CEA (insurance companies) in the bad credit auto loans ACP, the catalogues supervisory authority, by Ordinance n o 2010-76 of 21 January 2010 merger with the authorities for approval and HDMI switch control of banking and insurance.
In the U.S. , the Securities and Exchange Commission (SEC) is equivalent to the French AMF.
Internationally, the International Organization of Securities Commissions (IOSCO, IOSCO, as its name stands for English, International Organization of Securities Commissions ) includes market authorities (AMF in France, the SEC states United …). The Bank for International Settlements (BIS or BIS, in its name stands for English Bank for International Settlements ) is “the central bank of central banks” and is the source of the Basel agreements .
The consumer associations can support bank customers to help them assert their rights, such as overdraft without warning and for non-compliance procedures (such as Scrivener Law in France). Notably, they can prepare the consumer before the courts and assign a bank before these same courts. The main consumer associations deal with banks the French Association of users of the bank (AFUB) 5 or the Association against the abuses of European banks (CABO) 6 .
Reviews

Criticism of the customer service
Among the criticisms, there are those arguing:
An unfavorable attitude toward Denver Divorce Attorney smaller customers and the uncertain response of microcredit and the disservice to SMEs – SMIs .
The bank overcharging acts and simultaneous removal of executions carried out by customers.
Punitive interest rates, according to critics, the revolving credit .
The risk to the deposit in case of bankruptcy of banks (in the limit of the guarantee of 100,000 euros provided by Seattle physical therapy the French / the Deposit Guarantee Fund ) 7 . Rules for the guarantee of bank deposits in Europe, visit the English Forum European Insurers bank deposits (EFDI) 8 and especially their comparison chart (in English) the limits of guarantees in Europe 9 .
Criticism of the role the diet solution diet plan in the economy
Among the criticisms, there are those arguing:
The gregariousness leads a spirit herd without limit to finance the same area causing damaging bubbles.
The surfinanciarisation which leads to a disproportionate share of net banking income in the GDP of a country. The rise in debt to 300 and 400% of GDP implies that part of the massive growth is captured by the banks. This has been particularly strong Plastic Bins in the U.S. and the UK, not to mention countries such as Switzerland, Iceland and Austria.
The abuse of dominant position and agreements especially in France where the tradition of centralized management of the banking sector since Petain, reinforced by periodic nationalizations, and bachelorette party supplies habits have created a significant inbreeding between banks, government and politics. See the contested appointment of Mr. Pérol adviser to the president of the republic at the head of a new banking conglomerate formed by credit unions and savings banks.
Conflicts of interest and many massive universal banking and bank assurance.
The inability of entrepreneurs to succeed without banks and almost absolute dependence of duration on the goodwill of the banks.
The over-compensation of executives and senior managers as a result of excessive risk-taking or safe operation of pension situation (size pension, annuity issuing credit money, annuity loans to the State and local governments). The regulation of bonus now seen as scandaleurs is on the agenda of the G.20.
The excesses of the proprietary asset management resulting in abysmal losses (Case Leeson and Barings bankruptcy; Kerviel affair for society generally).
The lack of control of complex products with high leverage ( leverage ) by directions overwhelmed by the complexity of the products.
No independent analysts and rating agencies.
The race for size. Credit Lyonnais (” Crazy Cell Phone Accessories Lyonnais “), Natixis, UBS, RBS, Lehman Brothers, Citigroup are examples of management teams concerned about the rapid gains in size and harvesting a large share of bad risks.
The destabilizing effect of money creation by the credit : in times of crisis-in-progress credit drop and therefore the money is missing.
The appropriation of seigniorage , and as a result of all the fruits of economic growth , by the banks.
The confusion between “jobs bank” that led to the formation of entities called too big to fail, too big to lease , that is to say, too big to be allowed to fail (to because of the consequences on the real economy), but too big for even a state to bail them out without putting itself in a catastrophic situation. Solutions existed ( Glass-Steagal Act ) or are proposed by economists ( 100% change ).
The debate on the role of financial activities, mainly carried out by banks, the economy appears every financial crisis. In France, the debate and shaken the intellectual world, after the first wave of market liberalization. The World Affairs from February 28, 1987 as well, sick industry finance . The idea web hosting will be included in the controversies concerning the stock market crash of October 1987. Among its critics are liberal economist Bertrand Jacquillat 10 and the banker Gerard Worms 11 .
After the explosion denver accident lawyer of the subprime crisis of 2007-2008, many observers have questioned again, throughout the world, the weight of the banking and financial sector in the economy. acne treatment Some studies suggest that imbalances too important for the financial sector are harbingers of crises:
Regarding wages, the economist Thomas Philippon (University of New York and Paris School of Economics ) has calculated that by 2008 wages in finance were 40% above “what would be expected,” the largest gap since 1929 12 .
Concerning the employment of graduates, according to economist Esther Duflo ( MIT , Paris School of Economics), 15% of graduates of Harvard of 1990 working in finance in 1975 against 5% in 13 . She believes that “What the crisis reveals a brutal (and expensive) is that all this intelligence is not used in a particularly productive. ” 14 .
Regarding the weight in the economy, economist Thomas Philippon has calculated that the financial sector accounts for 8% of GDP in 2006, probably at least 2 points or 33%, above the size it should have to exercise its normal task of financing the economy 15 . The deepening banking crisis since the summer of 2007, which led from the bankruptcy of Lehman Brothers in September 2008 in the near bankruptcy of a large number of institutions, many of which had to be nationalized in whole or in party, including in Britain, caused a great acceleration of Malaysia Property the challenge of banks and their practices that may lead to important reforms and in any case at the end of deregulation set up in the 1980s. Banks have benefited from recovery plans to ensure a major share of loans to SMEs, through organizations such that OSEO in France and the establishment of a credit mediator. Various controversies The documentary of Actual Prod entitled banks: the interest your money and released in 2006 on the show “Monday investigation” shows the most controversial practices of banks. He received a rather favorable criticism 16 . Laffont released shortly after a book of the same name 17 . Rising Bank is a shell bank illustrating Belgian bank transparency 18 . Finansol is an association of certified professional banking products.Banks in some countries Banks in the United States. End of 2007 , there were 7,282 commercial banks, 1,251 savings banks and 8,101 credit unions 19 . Banks in France In France, in 2001, there were 1,068 credit institutions 20 . Half of the credit institutions are banks 21.