TABLE OF CONTENTS: Acknowledgments xi
Introduction 1 A Money View Perspective 2
Lessons from the Crisis 6
Chapter One: Lombard Street, Old and New 11
The Inherent Instability of Credit 12
The Old Lombard Street 18
The New Lombard Street 23
Chapter Two: Origins of the Present System 30
From National Banking to the Fed 30
From War Finance to Catastrophe 37
Noncommercial Credit in Depression and War 43
Chapter Three: The Age of Management 48
Monetary Policy and the Employment Act 52
Listening to the Academics 57
Monetary Walrasianism 60
A Dissenting View 65
Chapter Four: The Art of the Swap 71
Currency Swaps and the UIP Norm 72
Brave New World 79
From Modern Finance to Modern Macroeconomics 85
Chapter Five: What Do Dealers Do? 92
Inside the Money Market 93
Funding Liquidity and Market Liquidity 98
Anatomy of a Crisis 103
Monetary Policy 107
Chapter Six: Learning from the Crisis 113
The Long Shadow of Jimmy Stewart 116
A Stress Test of Moulton-Martin 123
Dealer of Last Resort 132
Conclusion 136
Notes 141
References 149
Index 159
Return to Book Description File created: 4/25/2013 | 
