Twenty years later the new edition of this book reads like a a new book even to those readers who have read previous editions. So much new material has been added one scarcely finds any familiarity with prior edtions of the book. This is a sign of the immense changes that have occurred in the economy of the nation and the world over the last twenty years. In this respect a new edition of the book was long over due.
Mayer's writing style is such that it draws the reader into a complex subject and walks you around briefly until the reader is familiar with the jargon and then leads you to his particular point easily. In this way the new edition retains all the original value of the prior editions as a primer on banking procedures for a wide audience of readers.
Nonetheless, there were times during the reading of the new edition that this author wished we could have spent more time on particular subjects to thoroughly answer all questions on that subject before moving on to the next topic. This author is still looking for a more comprehensive explanation of the role of cash cards and ATMs in the economy as a whole. Perhaps we will have to wait until the next editions of this book to be published.
Brian W.Wells
Attorney at Law
Charleston, West Virginia
If you learn well through anecdotes, you will find this book both informative and easy to read. If, on the other hand, you are considering this book thinking it will be information about the modern banking industry given in a straightforward way, you're out of luck. In order to understand the industry (or what pieces of it this book explores, anyway) you have to extrapolate larger themes from nearly 500 pages of amost exclusively history and anecdotal examples. In addition, Martin has a habit of describing people in the industry, e.g., "Mr. X, a swarthy fellow I knew while still a fencer at Penn and something of a womanizer besides..." For some, I'm sure this keeps the book from being too dry. I, on the other hand, found these descriptions annoying and diversionary.
In sum, if you're looking for information about the modern banking industry, just read chapters nine and ten, which are well-written, relatively complete, and exceptionally easy to understand. If, instead, you are looking for the story of how banking has evolved, or you just like to read businessmen's tales, then this is the book for you.