1. Briefly describe the basic operations of—and the products and services offered by—each of the following financial institutions: (a) commercial bank, (b) savings and loan association, (c) savings...

1. Briefly describe the basic operations of—and the products and services offered by—each of the following financial institutions: (a) commercial bank, (b) savings and loan association, (c) savings bank, (d) credit union, (e) stock brokerage firm, and (f) mutual fund.

2.  What role does the FDIC play in insuring financial institutions? What other federal insurance program exists? Explain.