Types of Banks

With a global banking crisis going on, you might wonder about all the different types of banks. What's an investment bank, and what's a retail bank?

Different types of banks do different types of things, so it may be helpful to review what these firms do.

Of course, the list is always changing. Some people say that there's no such thing as an investment bank anymore after Lehman failed, and Morgan Stanley and Goldman became 'bank holding companies'. The fact is that the world is changing, but we'll still have investment banks - even if they're small boutique operations that look a lot different than the 800 pound gorillas we had a few months ago.

Take a look at various types of banks and how they work.