Those are the times when the dual banking system works best. Without the competitive incentive, banking and bank supervision would likely have become complacent. The virtue of having both state and federal charters is that it allows banks a greater degree of freedom to decide what they are going to do and how they are going to do it. That, too, is the American way. Most of all, in encouraging competition and innovation, the dual banking system benefits the public.
Dual banking brings out the best.
Americans deserve nothing less.