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Robert B. Anderson Quotes:

Robert B. Anderson quotes

Ocupation: Former United States Secretary of the Treasury

Life: June 4, 1910 - August 14, 1989

Birthday: June 4

Death: August 14

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When a bank makes a loan, it simply adds to the borrower's deposit account by the amount of the loan. It does not take this money from anyone else's deposit; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower.

Topics: Use, Doe, Add, Borrowers

quote when a bank makes a loan it simply adds to the borrower s deposit account by the amount robert b anderson Quotes

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