Word: bankes
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Dates: during 1930-1939
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...smoothly as surgeons, cut open the $2,490,000,000 Spend-Lend Bill and extracted $500,000,000 for toll roads, tunnels and bridges, $350,000,000 for RFC railroad equipment loans, knifed $25,000,000 from a proposed increase in the loan authorization of the Export-Import Bank, then passed it, sending the emaciated Rabbit to the House. The bill, once totaling $3,860,000,000, now stood at $1,615,000,000. California's bulky oldtimer, Hiram Johnson, took the floor to characterize the New Deal's spending philosophy as that of the cow-camp cook...
...Federal Deposit Insurance Corp. Chairman Leo T. Crowley. FDIC's own figures looked good enough at first glance. In five years the corporation has had to pay out $21,000,000 to cover expenses and to make good average losses of 16% of the deposits of 252 insured banks that closed or were taken over. Meantime FDIC has taken in $167,400,000 ($124,200,000 of it from ½ of 1% assessments on bank deposits, $43,200,000 from its investments and profits). Result: FDIC has a surplus of $131,244,960, of which...
...this surplus is no comfort to Chairman Crowley. He wrote an indictment of the present state of the U. S. banking business: for 75 years the ratio of bank capital to assets and to deposits has declined. Now the number of banker-owned dollars which protect the public's deposit dollars is at a new low-about...
Naming no names, Bank Overseer Crowley let off a blast against the things he believes are responsible for this condition: against the views of Federal Reserve Chairman Marriner Eccles that bank credit and investment policies should be liberalized to suit Administration policy; against banks which have increased dividends (from $187,595,000 in 1934 to $221,904,000 in 1937-38) faster than earnings warranted. In December 1934 when commercial banks' deposits amounted to $38,996,340,000, capital stood at $6,151,567,000. At the end of last year when de posits had increased...
Certainly no new capital is now going willingly into the banking business, which can hardly earn a living at present interest rates. Chairman Crowley proposed to prepare against future crises by boosting its rate of assessment against insured bank deposits. This would of course further reduce bank earnings, further reduce the chances of getting any new capital into the banking business...