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Banking & Finance history
Banking & Finance company history timeline
Depositors began to scramble for cash: by December 1825 there were bank runs.
1825: The first emerging-markets crisis
Together they would create what this newspaper, writing in 1857, called “a crisis more severe and more extensive than any which had preceded it”.
In late spring 1857, railroad stocks began to drop.
By 1907 they were almost as big as the national banks, having grown by nearly 250% in ten years.
But the economy started to slow a little in 1907, depressing the prices of raw materials, including metals.
Ford was making 9,000 of its Model T cars a day, and spending on new-build homes hit $5 billion in 1925.
In the end the market-watchers won and the central bank raised rates in 1928.
A new government body was set up to deal with bank runs once and for all: the Federal Deposit Insurance Commission (FDIC), established on January 1st 1934.
His response, as described in a 2007 paper by Richard Sylla of New York University, was America’s first bank bail-out.
The IMF recently estimated that the world’s largest banks benefited from implicit government subsidies worth a total of $630 billion in the year 2011-12.
Richard S. Grossman is Professor of Economics at Wesleyan University in Middletown, CT, a Visiting Scholar at the Institute for Quantitative Social Science at Harvard University, and a 2013-14 Fellow of the John Simon Guggenheim Memorial Foundation.
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Banking & Finance competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Credit Suisse | 1856 | $3.1B | 47,860 | - |
| Deutsche Bank | 1870 | $26.8B | 84,389 | 417 |
| BNP Paribas | 1848 | $47.4B | 193,000 | 25 |
| AIG Global Investment Group | 1996 | $30.0M | 50 | - |
| Northern Trust | 1889 | $820.2M | 20,000 | 205 |
| ABN AMRO Asset Management Holdings | 1991 | $4.1M | 50 | - |
| Arch Capital Group | 1995 | $7.0B | 4,500 | 413 |
| Nomura Securities | 1989 | $10.8B | 800 | 206 |
| Cetera Financial Group | 2010 | $1.6B | 1,300 | 80 |
| First Republic Bank | 1985 | $2.3B | 6,295 | - |
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