Free PDF The Bankers: The Next Generation The New Worlds of Money, Credit and Banking in an Electronic Age, by Martin Mayer
Free PDF The Bankers: The Next Generation The New Worlds of Money, Credit and Banking in an Electronic Age, by Martin Mayer
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The Bankers: The Next Generation The New Worlds of Money, Credit and Banking in an Electronic Age, by Martin Mayer
Free PDF The Bankers: The Next Generation The New Worlds of Money, Credit and Banking in an Electronic Age, by Martin Mayer
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From Publishers Weekly
Twenty-two years after his bestseller, The Bankers, Mayer returns with another kaleidoscopic look at the world of banking. While much is interesting here, the zigzag narrative can be tough to follow and seem oddly chatty. First, Mayer discusses the nature of money, the rise of checking?and perhaps its demise, because Europeans pay most of their bills through a central agency such as the post office?the emergence of credit cards and the potential for cash-value "smart cards." Then he reaches back to chart the history of banks and their civic role, the recent wave of bank mergers and banks' dicey ventures into computer-based trading, devoting a chapter to the demise of the British bank Barings. Next he examines the role of government, focusing on the S&L fiasco, in which banks were free to make bad loans while deposits were insured. Finally, Mayer looks at the future, where he sees traditional banks cutting jobs as they consolidate, relying on computers and plastic, and an increasing number of nonbanks (brokerage houses, etc.) performing banking duties. He suggests reforms to aid the poor, who are now shunned by banks, and predicts that new finance companies will take over some of banks' traditional lending roles; yet he does not offer specific proposals for regulation of banks' investment practices. Copyright 1996 Reed Business Information, Inc.
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From Library Journal
Mayer, a noted financial journalist, revisits the banking industry, which he covered over 20 years ago in a seminal book that was also called The Bankers (LJ 2/1/75). The world has changed since then, and Mayer acknowledges that the role of banks has likewise altered. Now banks offer myriad nonbanking services ranging from insurance to mutual funds. Technology has dramatically affected banks, so much so that Mayer questions why we even need them, when an automated teller machine (ATM) can dispense cash and even loans, and a computer allows for transactions in cybercash over the Internet. Still, Mayer cogently argues for the need for banks and their role as an intermediary that can help Americans with simple or complex financial transactions as we enter the 21st century. Mayer's useful, carefully researched guide is recommended for large business or financial collections.?Richard S. Drezen, Washington Post News Research Ctr., Washington, D.C.Copyright 1996 Reed Business Information, Inc.
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Product details
Hardcover: 528 pages
Publisher: Dutton Adult (January 1, 1997)
Language: English
ISBN-10: 0525938656
ISBN-13: 978-0525938651
Product Dimensions:
20 x 20 x 20 inches
Shipping Weight: 1.8 pounds (View shipping rates and policies)
Average Customer Review:
3.8 out of 5 stars
8 customer reviews
Amazon Best Sellers Rank:
#375,905 in Books (See Top 100 in Books)
Did you know your Discover card came from Sears? Or that retailers in America--now derided as "old economy"--controlled the gateway to consumers and therefore once held the most power over banks? What if I were to tell you Bitcoin and privacy issues are nothing new, and the same issues of exchanging convenience for a loss of privacy existed in the 1990s? ("This privacy feature is a crusade for [David] Chaum, who feels any payment system which permits people to trace who bought what opens the door to fascism.")I'm not recommending this book to a casual reader with no interest in economics; however, if you enjoy reading finance books for fun, you will enjoy Mayer's considerable expertise. He is *not* the most scintillating writer, but like James Grant, he presents ideas with historical context and in ways that make you think. (July 2017)
The financial services industry has always been something of an enigma to me. After reading THE BANKERS, it still is. Perhaps the lush reviews garnered by this book instilled unrealistic expectations: I expected a carefully researched, scholarly treatment of the banking business past-to-present. For better or worse, this book reads more like a quirky monologue by someone who knows the banking business well, but who prefers to deliver his knowledge by free association rather than by cogent and orderly description. The anecdotes are sometimes very entertaining, and the reader does pick up some valuable insights. But the return on effort extended is less than excellent. What's especially ironic is the book's chapters ARE cogently organized...it's only the follow-through that's lacking.The book's high point is Chapter 3 (Paying Bills). Here the author does an admirable job of describing the excruciatingly convoluted process of check clearance. It would seem to be the dullest subject imaginable, but Mayer brings it to life -and I suspect he does such an admirable job because he has a flair for showing the quirkiness in any subject under the sun. The biggest disappointment of the book is how Mayer is compelled to entangle his journalistic prominence with whatever other point he wants to make ("A team of television journalists came from a Japanese network to visit me in Washington..."). Once again, there are some terrific insights, and some entertaining one-liners. It's just that the perspective one receives seems indulgently biased, and not particularly comprehensive.
I wouldn't say that this is a casual read for the "general" reader. To really understand what this author has to say you have to have more than a casual interest in money and banking.But that being said, I read it and I'm no banking major. I won't say that I understood everything that the author tried to explain. It was all very interesting and often very confusing. Often though I understood all the words, I couldn't fathom the sentence. Anyone who says that they understand "money" and how it works, I think is kidding themselves. Understanding the workings of what we call "money" is a logical paradox; it is a philosophical inquiry; it is much ado about something.Understanding money is another project that I have taken on intellectually. Galbraith wrote a great book about "Money" From Whence It Came and Where It Went. He claimed in the intro to that book that anyone with the requisite desire has the ability to understand money. I don't think so.Richard Edward Noble - The Hobo Philosopher - Author of:"Hobo-ing America: A Workingman's Tour of the U.S.A.."
The scope of this book is fantastic. I wanted to enjoy it, but Mayer plays too fast & loose with the facts. His descriptions of banking principles is muddy, leaving me to wonder if he's a sloppy writer, a bad economist, or so presumptuous to think his readers all have finance PhD's and don't need clear explanations. Among his factual errors: He mistakenly put Citicorp's card processing center in Fargo, North Dakota (instead of Sioux Falls, SD) and Reno. First Chicago was bought by National Australia Bank; it did not merge with Michigan National. Midlantic was bought by PNC, not City National of Cleveland. What happened to editors?
Excellent book on modern day banking industry, extremely informative with lots of information, but easy to digest even for those who just wanted to learn a little more about the business.It is well written and easy to understand overall. Making it unexpectedly enjoyable.
I just got hired as the Webmaster for a large .COM financial services firm and wanted to give myself a crash course on the history of banking as well as the various elements related to modern financial services. I found the book to be clear, concise, and very well written. I would recomend this book to anyone interested in expanding their knowledge of banking or financial services in general.
First I believe this book should be a ten star. I am a crinimal justice major @ I.U. and also a victim of white collar crime. I have read three other books written by Mayer and have found them all useful for an independent study that I am doing on banking crime by insiders. I fell that if a person wanted to ask a banking question and get an educated answer Mayer is the person to ask.
This is the first and only book I've ever read on banking. But it is very well written, clear, concise, and filled with interesting bits of history. The author shows extreme mastery of the topic. If you read any book about the industry, this should be it.
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