On September 30, 2008, what percentage of bank assets did the smallest 40 percent of banks control? What percentage of bank assets did the largest 7 percent of banks control? Briefl y discuss the...

On September 30, 2008, what percentage of bank assets did the smallest 40 percent of banks control? What percentage of bank assets did the largest 7 percent of banks control?

Briefl y discuss the incentives that have led to a rapid pace of fi nancial innovation in the last 45 years.