The New Lombard Street: How the Fed Became the Dealer of Last Resort by Perry Mehrling

The New Lombard Street: How the Fed Became the Dealer of Last Resort

Perry Mehrling

174 pages • first pub 2010 (editions)

nonfiction economics history challenging informative slow-paced
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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 ...

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