Leadership Simplified: Doug Van Dyke

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New Banking Bill Will Limit United States World Cache

Remember when U.S. banks were the largest banks in the world? Over that past century American based banks have held a lofty position when world banking giants were listed. Seeing U.S. banks atop the financial industry listings filled the nation with a sense of pride. It appears that those days are gone. The new banking bill will not allow a U.S. bank to hold more than 10% of the nation’s deposits. This will dramatically limit the potential size of U.S. banks. While the size limitation may provide extra safety to the financial system in the United States, it will also truncate U.S. banks from competing (in a free-market manner) on the world stage. By handcuffing large commercial banks, the new banking bill will exacerbate the power shift of the international financial market from the U.S. and Western Europe to Asia. This comes at a time when the U.S. could use all the international cache it can muster. 

Posted by Doug Van Dyke on 2010-10-14 at 06:47 AM
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