Wednesday, December 24, 2008

TBAR: The Texas Banking and Finance Project

I mentioned in an earlier post, "Texas, a New Financial Center," that Texas needs to become a world center for banking and finance. An article in the Tuesday, December 23, 2008 Wall Street Journal, "Two Cities Lose 'Hometown Banks' Today," by Dan Fitzpatrick, describes how towns lose major banks when those banks are purchased by another bank and the headquarters are moved.

Two important lessons from this article:

(1) If we are going to develop a world class bank in Texas, then we need to structure the ownership carefully so our bank is not hijacked by another bank through a hostile takeover.

(2) There is not a city in Texas on the top 10 list. Clearly, this is unacceptable. DFW is the number 5 metroplex in America and we do not have banks to rival Birmingham, Alabama.

Here are the top ten cities for banking in America:
1. New York
2. Charlotte, N.C.
3. San Fransisco
4. Pittsburgh
5. Boston
6. Minneapolis
7. Atlanta
8. McLean, Va.
9. Birmingham, Ala.
10. Winston-Salem, N.C.

We are obviously on the wrong track when it comes to banking. The Texas Banking and Finance Project will make Texas a powerhouse in banking and bring prosperity to Texas.

Robert Canright

Here are other articles that are part of the Texas Banking and Finance Project
Texas, a New Financial Center Saturday, December 6, 2008
Texas, China, and a New Currency, Part 1 Sunday, April 12, 2009
Texas, China, & a New Currency, Part 2 Sunday, April 19, 2009
Texas, China, & a New Currency, Part 3 Tuesday, July 7, 2009
Amherst Holdings and the Texas Banking Project Saturday, July 25, 2009
A Philosophy of Banking Friday, December 23, 2011
Financial Thinking and Bitcoin Valuation September 4, 2017

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