American commercial banks in corporate finance, 1929-1941
Subtitle: a study in banking concentration
By: Go, Tian-Kang.
Series: Financial sector of the American economy
Publisher: Garland
Published: 1999
Place of publication: New York
Language: eng
Number of pages: 440
Subjects: Term loans -- United States -- History -- 20th century.; Corporations -- United States -- Finance -- History -- 20th century.; Bank loans -- United States -- History -- 20th century.
Description: "Through a systematic study of historical data, this book argues that a small group of New York banks, by means of term loans and working in close collaboration with their affiliated life insurance companies, exerted a strong influence over the supply of money and credit, and thus over the entire economy throughout the years of the depression.

The book analyzes the growth of term loans under the depression, the concentration of the loans in a handful of powerful New York banks, the interplay between these banks and large life insurance companies in the capital market, and the resulting economic consequences. It also details the changes that took place in the leadership within the financial heirarchy during the depression: the J. D.

Rockefeller interests replaced the Morgan-First National interests as the country's dominant financial power - a change that has escaped previous scholarly notice."--BOOK JACKET.
Notes: Includes bibliographical references (p. 413-419) and index.