It happened sometime after the crisis of 1847.
A bank charter has been granted to The Narrow Bank in Connecticut. But the idea of narrow banking is not new.
Expectations of government bailouts drove the increase and decline of American banks’ market value to book value, according to a new NBER working paper.
Americans spend $400 billion dollars per year to comply with the tax code. Americans also dedicate 9 billion hours of labor to comply with the current tax code. Beyond costly compliance, the current tax code distorts investment and work decisions in the economy. Something needs to be done to simplify the tax code and make it pro-growth.