Potomac, Md. - To say that there have been dramatic changes to the banking industry over the last forty years might be an understatement to those in the U.S. and international banking industries. Author Arnie Danielson, responding to the needs that business people, bankers and corporate officials have in understanding how the banking landscape has changed, especially after 2008, is contributing to this discussion in American Banking through Crises and Consolidation.
Describing how the banking industry has indelibly changed from a local industry during the 1970s to one in which four large banks now hold nearly 50 percent of the bank assets in the United States, Danielson talks candidly about what spurred the changes, how the banking industry has changed, the current banking landscape and what may happen in the future.
"My book takes into account the startling events of 2008 and 2009 and puts these events in context of the long-term trends in American banking. It is my goal to show both how much and how little has changed," said Danielson. Within the pages of American Banking through Crises and Consolidation, readers will comprehend how during times of financial crisis the number of banks decreases and the biggest banks get bigger, and how the ripple effects of the latest crisis has not only taken their dominance beyond traditional banking, but has also assured their dominance of international banking as well.
Danielson's perspective is that of a banking insider who has taken time to see the trends within a historical context. Disconcerted by the damage done during the 2008 crisis, Danielson is optimistic that banking within the United States will have a brighter future. Readers will appreciate his candor as he shares his experience in banking, and his analysis should encourage those interested in the future of America's financial service business.
American Banking through Crises and Consolidation can be purchased through SDP Publishing, Barnes & Noble or Amazon.
About the Author:
The impact of economic crises and consolidation on banking is something that Arnold G. Danielson witnessed beginning in the early 1970s from inside a bank holding company and from 1977 to 2007 at his firm, Danielson Associates, which was an advisor to banks and thrifts attempting to adjust to a continually changing banking environment. From 1985 to 2007, he wrote the regional and national Danielson Reports that described what was happening in the industry at the time. In 2007, he published his book Consolidation of Banking: or How Five Banks Bought 50% of America's Biggest Business American Banking through Crises and Consolidation is a revision of this book, which has been updated to include the period from 2008 to 2013 and place a greater emphasis on the impact of economic crises on banking.
Today, Mr. Danielson is retired, and he and his wife, Vivian, split their time between homes in Potomac, Maryland, and Nice, France. His time in France and love of history are reflected in a book far removed from banking, A Traveler's History of Cote d'Azur, published in 2012.