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The New Lombard Street: How the Fed Became the Dealer of Last Resort
The New Lombard Street How the Fed Became the Dealer of Last Resort
Author: Perry Mehrling
Walter Bagehot's Lombard Street, published in 1873 in the wake of a devastating London bank collapse, explained in clear and straightforward terms why central banks must serve as the lender of last resort to ensure liquidity in a faltering credit system. Bagehot's book set down the principles that helped define the role of modern central...  more »
ISBN-13: 9780691143989
ISBN-10: 0691143986
Publication Date: 11/28/2010
Pages: 184
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Publisher: Princeton University Press
Book Type: Hardcover
Members Wishing: 1
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