Economics of Money, Banking and Financial Markets, The, Business School Edition (5th Edition) (What's New in Economics)
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Chapter 11, Problem 2WE
To determine

How many bank failures occurred in the United States during the most recent complete calendar year? What were the total assets held by banks that failed? How many banks failed in 1937?

Concept Introduction:

The United States economy has been through several stages − from experience, a severe depression in the 1930s decade with almost 9000 banks failing, to have a strong banking industry with numerous branches and two banks in the top ten banks of the world.

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