The local monopolies of banking -- especially in rural areas -- also tended to make the risks of banking failure more local. Sort of like an electricity grid. When it is more local, failures are more common, but localized. When a more national system goes down ....
On Wed, Sep 18, 2002 at 08:36:14AM -0700, Devine, James wrote: > On the consolidation of banks: > > It should be mentioned that the trend does not always mean increased > monopolization of banking services. One thing is that with the breaking down > of barriers to interstate banking in the U.S., a lot of local monopoly power > was undermined. Further, the banks have been suffering from competition from -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
