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But the priests of Córdoba fought hard to maintain the banking powers they had held since 1864, even after a merger with a secular competitor created the current CajaSur 15 years ago.
That law was passed after the 2008 financial crisis and seeks to systematically curb the excesses of behemoth banking powers.
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Without question, banking power has diminished compared with its level at the height of the bubble.
Nonetheless, "13 Bankers" is persuasive penance — a well-documented appeal to embrace once again Thomas Jefferson's skepticism of concentrated banking power.
UBS, Switzerland's largest bank and an international banking power, said its third-quarter profit fell 44percentt as transaction fees and investment earnings declined.
Mr. Jonsson devotes the first half of the book to a recounting of the nation's history and its rapid-fire evolution into a modern banking power.
Bank of America, itself a product of a string of several big deals to create a retail bank that stretched from coast to coast, has long desired to be an investment banking power.
Check out the investment banking Power Page on wetfeet.com.
"13 Bankers" is persuasive penance -- a well-documented appeal to embrace once again Thomas Jefferson's skepticism of concentrated banking power.
The irony today is that their arguments are bolstered by people's unrealistic expectations of central banks' powers.
Even though the European Commission's proposal for a banking union is a big leap, it does not grant the central bank powers on a par with those of United States banking authorities like the Federal Deposit Insurance Corporation.
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