Introduction to the Banking Law Symposium: A 200 Year Journey from Anarchy to Oligarchy

Each of the five articles in this symposium deals in one way or another with a single question: In what ways and to what end should banks be regulated? Although banks and bankers are the very symbols of a capitalist economy, banks and bankers are not free. No banker may set up business on his own; he must have a charter. With insignificant exceptions no bank or bank holding company can operate a steel mill, sell grass seed, manufacture snowmobiles, or engage in any other activity that is not related to banking. There are rules that limit the geographic scope of a bank\u27s activity, the places it may open an office, and even the amounts it may lend and the prices it may charge. Each of the five articles in this symposium examines a different legal problem and discusses a form of bank regulation. In some cases the regulation is found in federal statutes or administrative rules. In other cases it is found in court decisions or in state laws