Banks and Other Financial Institutions Speech or Presentation

Banks and Other Financial Institutions - Speech or Presentation Example The insurance company AIG’s main services include General Insurance which include insurance for fire, marine, motor vehicles and miscellaneous things. They also provide health insurance, claim payments. The bank and insurance company are similar in the form that both provide customer benefits in terms of securing their money where banks can be used for saving money while the insurance company can be used to make health treatments secured, property and other valuable items secured through insurance. Both types of financial institution are also huge benefit to the economy as the world economy relies heavily on these institutions. Both firms differ in terms of the different types of services that they offer such as banks can be used for saving money and then earning interest on them whereas in a financial institution lease payments are made to insure something. Financial institutions of today are huge and are everywhere and the world economy cannot survive without them as most of the money is given out through them and the business rely on these firms hugely. The savings and loans crisis could have been avoided if there was not overregulation in the industry by the government. The high regulation prevented different firms from experimenting with different ways to adapt to changing market trends. Neither owners nor depositors had anything to lose, and both groups encouraged escalating risk-taking as a result. The disaster could have been avoided if there was more consideration on the part of the owners of these