National City

noun

1. a city in SW California, near San Diego.

Example Sentences

The book is crowded with characters, but “Sunshine Charlie” Mitchell, the head of National City Bank of New York, provides a sort of leitmotif.

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When Mitchell started his career at the bank’s stock-and-bond subsidiary, National City was already the largest bank in the country.

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When the Federal Reserve tried to squelch the rise of the stock market in early 1929, Mitchell announced that National City would instead lend money to support the market.

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Glass and Henry Steagall, his sometime rival in the House, passed their eponymous bill, which broke up National City and other banks that had stock-trading operations.

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It later came out that National City’s efforts to lend money on stocks had the Federal Reserve’s internal approbation, not its opposition.

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