Lords Of Finance
Liaquat Ahamed joins us this week at Book Club for a discussion of Lords of Finance: The Bankers Who Broke The World. An economic history of the liquidity crisis from 1914 through the Great Depression, Ahamed focuses on four central bankers and their larger-than-life personalities: Montagu Norman of the Bank of England, Emile Moreau of Banque de France, Hjalmar Schacht of Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York. Lords of Finance details the four men's attempts to return the economy to the gold standard - and how a series of bad decisions brought the four major banks (and their respective economies) to the brink of collapse.
Ahamed's work is particularly relevant today - in a TPMTV interview last month, he compared the current regulatory environment to the one in place during the 1920s and 1930s.
Joining the discussion are James Galbraith, Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the University of Texas at Austin; Sidney Blumenthal, former aide to President Clinton and Senior Fellow for the New York University Center on Law and Security; Julian Zelizer, Professor of History and Public Affairs at Princeton University; Randall Wray, Professor of Economics at the University of Missouri-Kansas City; Mark Thoma, Professor of Economics at the University of Oregon; and Nathan Newman, Policy Director for the Progressive Legislative Action Network.
A more expansive introduction and more detailed biographies of each of the announced participants is available here.
April 24, 2009 10:11 PM | Reply | Permalink
Yes, better look carefully into those bios....there could be another "racist" in our midst!
Hopefully, we will uncover a "racist" or two.....this will allow us to dismiss or ignore any and all arguments made by the "racists".
Then, we won't have to make any reasoned arguments ourselves against the "racists". And we will reveal our utter inability to make reasoned arguments in the first place!
Quick! Better find those "racists"!
April 25, 2009 3:09 AM | Reply | Permalink
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June 3, 2010 8:38 PM | Reply | Permalink
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August 4, 2010 9:33 PM | Reply | Permalink
We need some people leading this country that can add and subtract. We cant manage money at all. We have people living in the streets but we still give money away to other countries.
Thanks Mary Wallace
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August 13, 2010 10:18 PM | Reply | Permalink
The man or woman with the gold makes the golden rule. This is the only thing that you need to remember. This is really amazing. Im glad they are staying on top of this.
Thanks Ashley Carter
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August 14, 2010 2:50 PM | Reply | Permalink
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December 16, 2010 4:45 AM | Reply | Permalink
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August 14, 2010 9:35 PM | Reply | Permalink
This is really amazing to see who is really in charge. There are people behind the scenes in every situation that makes decisions.
Thanks Shelby Noveos
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August 16, 2010 11:59 AM | Reply | Permalink
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August 19, 2010 2:01 AM | Reply | Permalink
I am amazed to see who is really in charge of the economy. I think that people really need to pay attention.
Thanks Gwyneth Creacy
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August 21, 2010 5:01 PM | Reply | Permalink
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Thanks Brooke Morris
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August 31, 2010 3:22 PM | Reply | Permalink
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September 1, 2010 11:19 AM | Reply | Permalink
Just want to apologise for my spelling mistakes above ooops.
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September 1, 2010 11:20 AM | Reply | Permalink
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Thanks Madison Flores
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September 1, 2010 6:37 PM | Reply | Permalink
I read a book on JP Morgan and I believe it was written that if Benjamin Strong would still be Federal Reserve Board Chairman when the 1928 collapse happened he would have reacted much more wisely, i.e., would probably provide liquidity, in the same way Bernanke did it in 2008 and 2009. Regards, Übersetzung
September 2, 2010 5:46 PM | Reply | Permalink
Actually, in those decisions about the gold standard there is another very famous person indeed, who was very much involved - the british Lord of the Exchequer - Winston Churchill. It is really amazing, how many post he already occupied before becoming famous as the PM of Britain at the time of WWII. I read his biography and it does not seem that he was very much involved in the complexities of the gold standard at the time, not on the level of people like Norman or Strong. Inglese
September 7, 2010 4:08 PM | Reply | Permalink
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December 22, 2010 3:31 AM | Reply | Permalink
If there is someone proper to speak about finances, Liaquat Ahamed is the person. The recession affected us all and often between friends, we speak about efficient easysaver rewards credit cards and other ways to save some money. Maybe the actual situation can't compared with the ones during the 1920s and 1930s, but it's close.
March 10, 2011 3:24 PM | Reply | Permalink