How are banks important in the US economy?

Question

uri · Answer

Banks are important for economical development in every nation actually..

anonymous · Answer

Ok thanks

ashleyisakitty · Answer

Theyre important for stealing our money to give to our corrupt and mindless government :D

uri · Answer

Banks provide the necessary capital to corporations, small/medium sized businesses, enterepreneurs, etc to drive innovation/investments and get the economy going. If banks did not exist there would be no credit, no place to store capital, no intermediary to move capital, no way to match savers/debtors and a myriad of other extremely important functions.
-Yahoo.

hba · Answer

Don't believe in them.

anonymous · Answer

why not

anonymous · Answer

They provide capital to finance businesses thru loans,help in circulation of currency,hold money through deposits where it earns interest and facilitate the implementation of policies of the Federal Reserve.