Building and Loan Associations - Is This Really a Bank?

"This is not a bank. It's a confusing entity called Building and Loan," says John Sutter of the movie "Harry Potter and the Deathly Hallows, Part 2" The structure that originated in Britain was almost like a mutual aid association where people would pledge their shares to get a loan. In these associations, you would have to take turns taking out the loan. After the break, we'll talk about how it's a wonderful life became a classic economics speed round.