Ask The Business Lawyer

I had never really thought about the symbiosis between business and banking, but here's an interesting tidbit by Shaun Parker on the history of how it came about.  According to Parker, banks themselves owe their standing in the economic world due to the entrepreneurship of middle age traders.  The first to take advantage of the new financial houses were those who wanted the capital to embark on grand expeditions!  Given the great disparity betwen rich and poor in those times, you either had no savings to speak of, or you had armed sentries guarding the gold you kept under your mattress!