Word: gellman
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Dates: during 1970-1979
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Landmark. The battle of the banks is causing headaches in Washington. Bennett Gellman, staff member of the House Banking and Currency Committee, explains: "There's no 'right' answer. The best policy is to lean toward independent units because they offer more competition. But you need some of the big banks down there, too, as a spur." Says an official of the Federal Reserve: "This problem of big banks and small banks is one we debate day by day in board meetings...