In 1921, America had more than 30,000 banks. As recently as 1984, it had almost 15,000. Despite their vast number, they hold less than 14% of all assets and deposits. In Britain, for instance, there are 325 banks. There are about 80 banks in Canada.
Tomorrow, Syria’s president will be welcomed back into the Arab League as regional leaders meet in Jeddah. Is this the dictator’s first step in a journey to restore ties with the rest of the world? America’s small banks are capturing rural communities in a way that the big ones can’t. And, the world’s largest sporting tournament features some rather niche events.
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