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The problem with traditional banks
The main problem with banks nowadays is that many have abandoned their traditional role as providers of long-time financial products in favour of short-time gains that carry much higher risks.
For example, back in 2008, banks like Leeman Brothers gave credit to nearly anyone who wanted to buy a house, putting the bank in a risky position. It led to the collapse of the housing market in the US and parts of Europe, causing stock prices to plummet, eventually leading to a global banking crisis.
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Traditional banks
There are more than 30.000 different banks worldwide, and they hold unbelievable amounts of assets. The top 10 banks alone account for roughly 25 trillion US-Dollars.
Banks are, in essence, in the risk management business. People keep their money in banks and receive a small amount of inter...
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Other finance models
- Credit union systems range from a few members to organisations with hundreds of thousands of members. They focus on benefits for their members, which influences the risk that credit unions are willing to take.
- Crowdfunding platforms enable people t...
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Investment banks are gaining in popularity
Today, other models of providing finance are gaining ground fast. For example, new investment banks charge a yearly fee and do not get commissions on sales. This motivates them to act in the best interests of their clients or credit unions. They provide the ...
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Financial crisis examples
- The Stock Crash of 1929. On Oct. 24, 1929, share prices collapsed after a period of wild speculation and borrowing to buy shares. It led to the Great Depression, which was felt worldwide. One trigger of the crash was a drastic oversupply of commodity crops, which led to a ...
The Great Depression
.. was a devastating economic collapse which started in the US in 1929, lasting a decade. Europe was already struggling post the WWI recession, while the US was thriving. As borrowings and stock purchase increased, Wall Street went into a meltdown as soon as the share prices nosedived. This l...
What led to the Great Depression
While the USA proved to be by far superior to Europe both financially and industrially, after having got its independence, it did know a huge economic crisis in 1929, through the crash of the Wall Street stock market.
Everything started on the 18th of October, when prices fell sharply, res...
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