By Michael J. Hightower,Frank Keating
via meticulous study 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 kingdom legislature used to be to assure that depositors in state-chartered banks might by no means lose a penny. in the meantime, land and oil speculators and the bankers who funded their desires have been raising get-rich-quick (and usually get-poor-quick) schemes to an artwork shape. In protection of state banks, the Oklahoma Bankers organization dispatched armed vigilantes to forestall robbers of their tracks.
next advancements in Oklahoma banking contain version to rules spawned via the nice melancholy, the post–World warfare II growth, the Nineteen Eighties melancholy within the oil patch, and alterations fostered via rapid-fire advances in expertise and verbal exchange. The dying of Penn sq. financial institution bargains considered one of history’s few unambiguous classes, and it warrants chapters—one at the upward push, and one at the fall. expanding law of the banking undefined, the survival of relatives banks, and the resilience of neighborhood banking are constant issues in a kingdom that's just a couple of generations faraway from the frontier.
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