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RE: [Pen-l] Bank Stocks & History

Selling stocks raises funds and makes more people become political supporters of the bank.

 

Michael Perelman

Economics Department

California State University

Chico, CA

95929

 

530 898 5321

fax 530 898 5901

 

http://michaelperelman.wordpress.com

 

From: pen-l-bounces@xxxxxxxxxxxxxxxxxx [mailto:pen-l-bounces@xxxxxxxxxxxxxxxxxx] On Behalf Of Jayson Funke
Sent: Thursday, December 18, 2008 1:39 PM
To: 'Progressive Economics'
Subject: [Pen-l] Bank Stocks & History

 

I have been doing some preliminary research on the origins of the US stock market (Buttonwood Agreement 1792), and I’ve noticed that along with government bonds, banks (along with insurance companies) have been historically among the first private firms to issue stocks in the market. Anyone know why? To raise capital? Spread risk? The answer is probably obvious, but I’m unsure.

 

Thanks

 

Jayson

 

Jayson Funke

Graduate School of Geography

Clark University

950 Main Street

Worcester, MA 01610

 

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