FAMILY-DYNASTIC TRADITIONS IN U.S. BANKING
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FAMILY-DYNASTIC TRADITIONS IN U.S. BANKING
Annotation
PII
S268667300000616-7-1
Publication type
Article
Status
Published
Authors
Mikhail Vasil'ev 
Nataliya Vasil'eva
Edition
Pages
41-55
Abstract
The article is devoted to the analysis of Morgans, Rockefellers and Mellons family-dynasties in American banking which was formed at the end of the 19th and the beginning of the 20th centuries. The «Founding Fathers» of the family banks had played the decisive role in establishing such traditions which determined the longevity of their family banking businesses. Particular emphasis is placed on the fact that the creation of the Federal Reserve System (FRS) was an important step on the road to strengthen - not to weaken - the family-dynastic traditions in American banking, which were the basis for federal policies to bail-out the largest American banks and banking institutions in 2008-2011.
Keywords
banking house of Morgans, banking house of Rockefellers, banking house of Mellons, Federal Reserve System, 2007 2009 world financial crisis, federal bail-out of the American largest banks
Date of publication
09.01.2016
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0
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83
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0.0 (0 votes)
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