Years of Plunder a Financial Chronicle of Our Times
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In our eReader you can find the full English version of the book. Read Years of Plunder a Financial Chronicle of Our Times Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Years of Plunder a Financial Chronicle of Our Times
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, had acquired ownership of twenty-three Michigan banks, including the big Guardian National Bank of Commerce, of De- troit, which failed in February, 1933, owing its deposi- tors upwards of $90, 000, 000. Among those who were identified with its management were men who were prominent in the motor car industry, including Edsel Ford and a brother-in-law. In common with other bank- ing institutions the group had felt the pressure of steady withdrawals and their situation was further compli- cated... by an excessive quantity of bad loans in addition to defalcations which in one instance ran up to $1, 600, - 000. The banks in the group carried large loans secured by collateral consisting of the holding company stock, which made it doubly necessary to keep up a good front. In order to do this it was essential to maintain dividends at a substantial rate and as it developed in testimony before the Senate Banking and Currency Committee the banks in the group were deliberately "milked" for this purpose, in the language of Mr.
What to read after Years of Plunder a Financial Chronicle of Our Times?
You can find similar books in the "Read Also" column, or choose other free books by Proctor W Hansl to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
, had acquired ownership of twenty-three Michigan banks, including the big Guardian National Bank of Commerce, of De- troit, which failed in February, 1933, owing its deposi- tors upwards of $90, 000, 000. Among those who were identified with its management were men who were prominent in the motor car industry, including Edsel Ford and a brother-in-law. In common with other bank- ing institutions the group had felt the pressure of steady withdrawals and their situation was further compli- cated... by an excessive quantity of bad loans in addition to defalcations which in one instance ran up to $1, 600, - 000. The banks in the group carried large loans secured by collateral consisting of the holding company stock, which made it doubly necessary to keep up a good front. In order to do this it was essential to maintain dividends at a substantial rate and as it developed in testimony before the Senate Banking and Currency Committee the banks in the group were deliberately "milked" for this purpose, in the language of Mr.
What to read after Years of Plunder a Financial Chronicle of Our Times?
You can find similar books in the "Read Also" column, or choose other free books by Proctor W Hansl to read onlineMoreLess
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