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Financial Services and the United States Economy: A Matter of Trust & Size

It’s the trust in the American economy, and the confidence in our system of government that has spurred individuals and governments both here and abroad buy into the dollar. In the same way that the dollar is a trusted promissory note of value, so too is the Financial Services Industry in the United States a pillar of this trust and a vital part of what allows for belief in the system. From the processing of loans, to the issuance of stocks and bonds, the financial services industry acts as the go between. They have to stay organized, properly track all transactions, and follow the rules set forth by the government and the rules of the market which determine how profitable they will be. Like any other industry / business, the Financial Services Industry has a vast array of products and service that they are trying to sell – trying to properly package and tailor to the consumer. If it were not for this private enterprise fostering all these transactions and investment in a manner that is efficient and trustworthy, the United States Economy would not function, and therefore would not exist.

Another aspect of what makes the American Financial Services Industry the most successful and trusted in the world is its size. It is by far the largest and most valuable network of companies and intuitions, worth more on its own than most countries. Accounting for over 20% of the S&P 500 index, the United States Financial Service Industry makes up the largest single industry in the United States, and is also the most liquid and robust industry in the world, which is why so many foreign governments and companies use American firms to conduct major financial dealings and why the American people have allowed this industry to function almost as though the intuition itself is the government, and in some cases this line is certainly blurry at best, especially when the government barrows money to function, or mandates its citizens purchase a financial product like healthcare.   There is virtually no aspect of an average American citizen’s life that is not effected by or connected to the financial services industry. You name it, and there is a connection. 

The industry encompasses a wide variety of activities and service including:

  • Banking
  • Credit Cards
  • Home loans
  • Home Equity Lines of Credit.
  • Car loans
  • Retirement Plans
  • Insurance
  • Securities Brokerage
  • Investment Banking
  • Securities Trading
  • College Funds
  • Investment Management
  • Securities Analysis
  • Financial Planning
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