Investment banks came into being, in the words of Lord Rothschild, to move “money from point A, where it is, to point B, where it is needed”?. In Babylon 3,000 years ago, in ancient Greece and in Rome, in the rolling hills of Renaissance Tuscany, bankers followed this simple principle, pooling funds and investing them where capital was required. The sophisticated financial machine of the modern investment bank, however, was a product of the 19th century. A specific historical moment, the 1803 Louisiana Purchase, brought high finance on to the stage of world politics, and gave financiers a first taste of the power they would enjoy over the coming centuries.
http://www.newstatesman.com/business/bu ... nt-banking
(Scroll down to the second part.)
Gumby, if you're reading, what is the relationship between the primary dealers, the investment banks and the shareholders of the Fed?
The Birth of the Investment Banks
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The Birth of the Investment Banks
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Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!