Good Banks, Bad Banks

31 Pages Posted: 29 Sep 2017

See all articles by Richard Christopher Whalen

Richard Christopher Whalen

Whalen Global Advisors LLC; Mortgage Bankers Association; National Mortgage News; FINRA

Date Written: September 27, 2017


This paper examines the factors which contribute to banks being perceived as being “good” or “bad” in terms of their impact on the political economy and society as a whole. We first review some of the historical antecedents for public approbation against banks, then consider how changes in ownership affect bank behavior, then examine the financial performance of different sized banks, and then finally discuss the particular examples of off-balance sheet transactions and incomplete sales as indicia of cheating by “bad banks.” We conclude with a discussion of financial conflicts as prohibited by the Volcker Rule and the larger question of corruption and crony capitalism between the largest banks, elected officials and their regulators.

Keywords: Banks, Federal Reserve, True Sale, Capital, Fraud, off-balance sheet, crony capitalism, regulation, Louis Brandeis, JP Morgan, Walker Todd

JEL Classification: G00, G18, G2, G21, G23, G38, G32, N00, N2

Suggested Citation

Whalen, Richard Christopher, Good Banks, Bad Banks (September 27, 2017). Available at SSRN: or

Richard Christopher Whalen (Contact Author)

Whalen Global Advisors LLC ( email )

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BRIARCLIFF MANOR, NY New York 10510-8903
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