By Michael J. Hightower,Frank Keating
via meticulous examine and private interviews with bankers statewide, Hightower has crafted a compelling narrative of Oklahoma banking within the 20th century. one of many first acts of the recent nation legislature was once to assure that depositors in state-chartered banks could by no means lose a penny. in the meantime, land and oil speculators and the bankers who funded their goals have been raising get-rich-quick (and frequently get-poor-quick) schemes to an paintings shape. In security of state banks, the Oklahoma Bankers organization dispatched armed vigilantes to prevent robbers of their tracks.
next advancements in Oklahoma banking comprise variation to rules spawned via the good melancholy, the post–World battle II increase, the Eighties melancholy within the oil patch, and alterations fostered through rapid-fire advances in expertise and conversation. The loss of life of Penn sq. financial institution deals considered one of history’s few unambiguous classes, and it warrants chapters—one at the upward thrust, and one at the fall. expanding legislation of the banking undefined, the survival of relations banks, and the resilience of neighborhood banking are constant subject matters in a kingdom that's just a couple of generations faraway from the frontier.
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