Question

why are bank so important and why the federal government should you credit

Answer 1

Banks are important because they are intermediaries. They allow people who can use extra money and want to borrow to find people with extra money to lend. The also provide transaction services allowing payments to be made by check or wire.

Note that the current financial crisis didn't really have anything to do with banking proper, but became a mess because banking companies got more involved with trading operation rather than their traditional functions.

Banks are very important since they help in maintaining and restoring the economic status of any nation. They also lend out loans to people thus helping people to invest in different sectors and uplift their living standards.

Answer 2

thanks for helping me

Answer 3

But Banks are essential to the economy aswell. As lending institutions, they loan money to business's that open to the consumer for spending. This generates income that gets put back into the economy. This is only a small part of what banks do that is important to the economy.

Answer 4

No problem may I have a medal :D

Answer 5

thx