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The New Lombard Street | Session 3

Reading Group

Start time:

March 23, 2022 @ 4:00 pm - 5:30 pm

Virtual Project Virtual Project
project Series Event Series (See All)

EDT

Location:

Online

Type:

Other

project Series Event Series (See All)
Virtual Project Virtual Project

Description

This is the last of three sessions on Perry Mehrling's 2011 book The New Lombard Street: How the Fed Became the Dealer of Last Resort

https://www.amazon.com/Money-Interest-Public-American-1920-1970/dp/0674584309/

In this book, Mehrling applies his Money View framework to interpret the history of the Fed and to make sense of the global financial crisis of 2007-2009.

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 banks, particularly in times of crisis–but the recent global financial meltdown has posed unforeseen challenges. The New Lombard Street lays out the innovative principles needed to address the instability of today's markets and to rebuild our financial system.

This week, we discuss chapters 5 and 6 as well as the conclusion.

Attendees

Alex Howlett

Win Monroe

Iván Weigandi

Andrea Puggioni

Ramon Gimenez

alison touhey

Jay Pocklington

Giacomo Rella

Mateusz Urban

Ryan Pan

Ádám Kerényi

Kosal Nith

Raphaele Chappe