Unit banking means banks were constrained by regulation to operate in only one location, producing over 20,000 highly undiversified banks unable to coordinate responses to shocks, which made agricultural shocks systemically destabilizing.
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Speaker
Charles CalomirisEvidence Quote
“what that meant was that you had highly undefined so shocks to agricultural markets could cause you know lots of problems in the system”
Created: 6/15/2026, 9:20:15 AM
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