BiblioVault - Books about Banks

Better Bankers, Better Banks

Promoting Good Business through Contractual Commitment

Claire A. Hill and Richard W. Painter

University of Chicago Press, 2015

Taking financial risks is an essential part of what banks do, but there’s no clear sense of what constitutes responsible risk. Taking legal risks seems to have become part of what banks do as well. Since the financial crisis, Congress has passed copious amounts of legislation aimed at curbing banks’ risky behavior. Lawsuits against large banks have cost them billions. Yet bad behavior continues to plague the industry. Why isn’t there more change?

In Better Bankers, Better Banks, Claire A. Hill and Richard W. Painter look back at the history of banking and show how the current culture of bad behavior—dramatized by the corrupt, cocaine-snorting bankers of The Wolf of Wall Street—came to be. In the early 1980s, banks went from partnerships whose partners had personal liability to corporations whose managers had no such liability and could take risks with other people’s money. A major reason bankers remain resistant to change, Hill and Painter argue, is that while banks have been faced with large fines, penalties, and legal fees—which have exceeded one hundred billion dollars since the onset of the crisis—the banks (which really means the banks’shareholders) have paid them, not the bankers themselves. The problem also extends well beyond the pursuit of profit to the issue of how success is defined within the banking industry, where highly paid bankers clamor for status and clients may regard as inevitable bankers who prioritize their own self-interest. While many solutions have been proposed, Hill and Painter show that a successful transformation of banker behavior must begin with the bankers themselves. Bankers must be personally liable from their own assets for some portion of the bank’s losses from excessive risk-taking and illegal behavior. This would instill a culture that discourages such behavior and in turn influence the sorts of behavior society celebrates or condemns.

Despite many sensible proposals seeking to reign in excessive risk-taking, the continuing trajectory of scandals suggests that we’re far from ready to avert the next crisis. Better Bankers, Better Banks is a refreshing call for bankers to return to the idea that theirs is a noble profession.

[more]

Breaking the Banks

Representations and Realities in New England Fisheries, 1866-1966

Matthew McKenzie

University of Massachusetts Press, 2018

With skillful storytelling, Matthew McKenzie weaves together the industrial, cultural, political, and ecological history of New England's fisheries through the story of how the Boston haddock fleet—one of the region's largest and most heavily industrialized—rose, flourished, and then fished itself into near oblivion before the arrival of foreign competition in 1961. This fleet also embodied the industry's change during this period, as it shucked its sail-and-oar, hook-and-line origins to embrace mechanized power and propulsion, more sophisticated business practices, and political engagement.

Books, films, and the media have long portrayed the Yankee fisherman's hard-scrabble existence, as he faced brutal weather on the open seas and unnecessary governmental restrictions. As McKenzie contends, this simplistic view has long betrayed commercial fisheries' sophisticated legislative campaigns in Washington, DC, as they sought federal subsidies and relief and, eventually, fewer constricting regulations. This clash between fisheries' representation and their reality still grips fishing communities today as they struggle to navigate age-old trends of fleet consolidation, stock decline, and intense competition.

[more]

Enterprising America

Businesses, Banks, and Credit Markets in Historical Perspective

Edited by William J. Collins and Robert A. Margo

University of Chicago Press, 2015

The rise of America from a colonial outpost to one of the world’s most sophisticated and productive economies was facilitated by the establishment of a variety of economic enterprises pursued within the framework of laws and institutions that set the rules for their organization and operation.

To better understand the historical processes central to American economic development, Enterprising America brings together contributors who address the economic behavior of American firms and financial institutions—and the associated legal institutions that shaped their behavior—throughout the nineteenth and early twentieth centuries. Collectively, the contributions provide an account of the ways in which businesses, banks, and credit markets promoted America’s extraordinary economic growth. Among the topics that emerge are the rise of incorporation and its connection to factory production in manufacturing, the organization and operation of large cotton plantations in comparison with factories, the regulation and governance of banks, the transportation revolution’s influence on bank stability and survival, and the emergence of long-distance credit in the context of an economy that was growing rapidly and becoming increasingly integrated across space.

[more]

Finance Capitalism Unveiled

Banks and the German Political Economy

Richard Deeg

University of Michigan Press, 1999

If we are moving toward one global financial market, will all national financial systems that determine how businesses raise money look the same? Richard Deeg argues that, despite financial market integration and considerable harmonization in the regulation of financial markets, the traditional structure and economic functions of national financial systems are not inevitably undermined. Using the case of Germany--a country with a strong and distinctive financial sector that is at the center of the pressures of economic integration--the author shows how the unique aspects of the German financial sector and its relationship to the German economy have persisted notwithstanding powerful pressures to change. Posing the German model of coordinated capitalism in which banks play an important role in shaping both firm behavior and the possibilities for state intervention in the economy against the liberal model of the United States and Britain in which the securities markets play a much greater role than banks, Deeg shows how the German model has survived competitive pressures in the international economic system that have pushed Germany--and other countries--toward the liberal model.
This book will appeal to political scientists and economists interested in international financial markets, globalization, and the comparative study of domestic financial markets, as well as in German politics and the German economy.
Richard Deeg is Assistant Professor of Political Science, Temple University.

[more]

Food Waste, Food Insecurity, and the Globalization of Food Banks

Daniel N. Warshawsky

University of Iowa Press, 2023

Food banks—warehouses that collect and systematize surplus food—have expanded into one of the largest mechanisms to redistribute food waste. From their origins in North America in the 1960s, food banks provide food to communities in approximately one hundred countries on six continents. This book analyzes the development of food banks across the world and the limits of food charity as a means to reduce food insecurity and food waste.

Based on fifteen years of in-depth fieldwork on four continents, Daniel Warshawsky illustrates how and why food banks proliferate across the globe even though their impacts may be limited. He suggests that we need to reformulate the role of food banks. The mission of food banks needs to be more realistic, as food surpluses cannot reduce food insecurity on a significant scale. Food banks need to regain their institutional independence from the state and corporations, and incorporate the knowledge and experiences of the food insecure in the daily operations of the food system. These collective changes can contribute to a future where food banks play a smaller but more targeted role in food systems.

[more]

Oil, Banks, and Politics

The United States and Postrevolutionary Mexico, 1917–1924

By Linda B. Hall

University of Texas Press, 1995

Mexico was second only to the United States as the world's largest oil producer in the years following the Mexican Revolution. As the revolutionary government became institutionalized, it sought to assure its control of Mexico's oil resources through the Constitution of 1917, which returned subsoil rights to the nation. This comprehensive study explores the resulting struggle between oil producers, many of which were U.S. companies, and the Mexican government.

Linda Hall goes beyond the diplomacy to look at the direct impact of a powerful, highly profitable foreign-controlled industry on a government and a nation trying to recover from a major civil war. She draws on extensive research in Mexican archives, including both government sources and the private papers of Presidents Alvaro Obregón and Plutarco Elías Calles, as well as U.S. government and private sources.

Since the North American Free Trade Agreement has expanded United States business ties to Mexico, this study of a crucial moment in U.S.-Mexican business relations will be of interest to a wide audience in business, diplomatic, and political history.

[more]

On the Banks of the Ganga

When Wastewater Meets a Sacred River

Kelly D. Alley

University of Michigan Press, 2002

In this rich ethnographic study, Kelly D. Alley sheds light on debates about water uses, wastewater management, and the meanings of waste and sacred power. On the Banks of the Ganga analyzes the human predicaments that result from the accumulation and disposal of waste by tracing how citizens of India interpret the impact of wastewater flows on a sacred river and on their own cultural practices.
Alley investigates ethno-semantic, discursive, and institutional data to flesh out the interplay between religious, scientific, and official discourses about the river Ganga. Using a new outward layering methodology, she points out that anthropological analysis must separate the historical and discursive strands of the debates concerning waste and sacred purity in order to reveal the cultural complexities that surround the Ganga. Ultimately, she addresses a deeply rooted cultural paradox: if the Ganga river is considered sacred by Hindus across India, then why do the people allow it to become polluted?
Examining areas of contemporary concern such as water usage and urban waste management in the most populated river basin in the world, this book will appeal to anthropologists and readers in religious, environmental, and Asian studies, as well as geography and law.
Kelly D. Alley is Associate Professor and Director of Anthropology at Auburn University. In addition to being a prolific writer, she has conducted research on public culture and environmental issues in northern India for over a decade. Alley is currently overseeing a project to ameliorate river pollution problems in India.

[more]

Trust in Troubled Times

Money, Banks, and State-Society Relations in Republican Tianjin

Brett Sheehan

Harvard University Press, 2003

This timely book traces the development of banking and paper money in republican Tianjin in order to explore the creation of social trust in financial institutions. Framing the study around Bian Baimei, a conscientious branch manager of the Bank of China, Brett Sheehan analyzes the actions of bankers, officials, and local elites as they tried to overcome political and financial crises and instill trust in the banking system.

After early failures in promoting trust, government authority as a regulator of the financial system gradually increased, peaking in 1935, when the state unified the money supply for the first time in several hundred years. Concurrently, when local elites proved unable to develop successful strategies to make people trust the system, their influence declined. The need for trust in increasingly complex financial arrangements redefined state-society relations, simultaneously enhancing state power and creating new constraints on the actions of both elites and governments.

Trust in Troubled Times is a valuable new perspective on the economic, social, and political history of modern China.

[more]