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

Perry Mehrling

Published by Princeton University Press, 2010
ISBN 10: 0691143986 / ISBN 13: 9780691143989
Used / Hardcover / Quantity Available: 0
Available From More Booksellers
View all  copies of this book

About the Book

We're sorry; this specific copy is no longer available. AbeBooks has millions of books. We've listed similar copies below.

Description:

We ship International with Tracking Number! May not contain Access Codes or Supplements. Buy with confidence, excellent customer service! L. Bookseller Inventory #

About this title:

Book ratings provided by Goodreads:
4.14 avg rating
(87 ratings)

Synopsis:

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.


Revealing how we arrived at the current crisis, Perry Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America's unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis. Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers' "money view," which looks to the money market to assess risk and restore faith in our financial system.

From the Inside Flap:

"The global financial system is badly broken. Many institutions and individuals share responsibility for the development of pathologies in and around our largest banks, but the buck stops, literally and figuratively, with the Federal Reserve. If you would like to understand how this happened--and how we (and the Fed) might inch back from the precipice--read this book."--Simon Johnson, coauthor of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown


"Informed by history, a model of clear thought and lucid prose, The New Lombard Street is by far our best guidebook to the changed structure of financial markets and the new role of the Federal Reserve. It also charts a new path for monetary policymakers and--given the scale of the crisis--not a minute too soon."--James K. Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too


"In Lombard Street, Walter Bagehot laid out the financial market lore and central banking wisdom of his day--the 1870s. Today's markets are different, and so is what constitutes useful policy. In The New Lombard Street, Perry Mehrling blends his rich historical knowledge with an acute analysis of current-day markets to suggest what constitutes sound central banking and financial regulation for our time. The result merits close attention from policymakers, and the rest of us too."--Benjamin M. Friedman, author of The Moral Consequences of Economic Growth


"No one else has come close to the achievement of this book in relating the crisis to the prior history of monetary thought and central bank practice. A masterful, original, and beautifully constructed work."--Charles A. E. Goodhart, London School of Economics and Political Science


"The New Lombard Street makes a serious and successful effort to deepen our understanding not just of the last century or more of U.S. monetary history, but also of the way in which economic analysis has evolved alongside that history. I very much enjoyed reading this book. It is timely, provocative, and well written."--David Laidler, professor emeritus, University of Western Ontario


"This is a wonderful book that offers a fresh understanding of the role of the central bank in the world of modern finance."--Roger E. Backhouse, University of Birmingham


"About this title" may belong to another edition of this title.

Bibliographic Details

Title: The New Lombard Street: How the Fed Became ...
Publisher: Princeton University Press
Publication Date: 2010
Binding: Hardcover
Book Condition: Used: Good

Top Search Results from the AbeBooks Marketplace

1.

Mehrling, Perry
Published by Princeton University Press
ISBN 10: 0691143986 ISBN 13: 9780691143989
Used Hardcover Quantity Available: 1
Seller
Hawking Books
(Lake Arrowhead, CA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Book Condition: Very Good. 0691143986 Very Good Condition. Tight and Neat. Five star seller - Buy with confidence!. Bookseller Inventory # Z0691143986Z2

More Information About This Seller | Ask Bookseller a Question

Buy Used
US$ 22.49
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

2.

Mehrling, Perry
Published by Princeton University Press (2010)
ISBN 10: 0691143986 ISBN 13: 9780691143989
Used Hardcover Quantity Available: 1
Seller
TTPDC
(Washington, DC, U.S.A.)
Rating
[?]

Book Description Princeton University Press, 2010. Hardcover. Book Condition: Acceptable. Possibly some shelf wear. Some highlighting and/or notes inside. Bookseller Inventory # mon0000150839

More Information About This Seller | Ask Bookseller a Question

Buy Used
US$ 18.80
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

3.

Mehrling, Perry
Published by Princeton University Press, Princeton (2011)
ISBN 10: 0691143986 ISBN 13: 9780691143989
Used Hardcover Quantity Available: 1
Seller
BISON BOOKS - ABAC/ILAB
(Winnipeg, MB, Canada)
Rating
[?]

Book Description Princeton University Press, Princeton, 2011. Hardcover. 8vo. Light shelfwear; very good, in very lightly shelfworn, very good dustjacket. Bookseller Inventory # 044018

More Information About This Seller | Ask Bookseller a Question

Buy Used
US$ 20.00
Convert Currency

Add to Basket

Shipping: US$ 7.50
From Canada to U.S.A.
Destination, Rates & Speeds

4.

Mehrling, Perry
Published by Princeton University Press (2010)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Quantity Available: 2
Seller
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description Princeton University Press, 2010. HRD. Book Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Bookseller Inventory # BB-9780691143989

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 30.43
Convert Currency

Add to Basket

Shipping: US$ 11.54
From United Kingdom to U.S.A.
Destination, Rates & Speeds

5.

ISBN 10: 0691143986 ISBN 13: 9780691143989
New Quantity Available: 5
Seller
Speedy Hen
(London, United Kingdom)
Rating
[?]

Book Description Book Condition: New. Bookseller Inventory # ST0691143986. Bookseller Inventory # ST0691143986

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 34.71
Convert Currency

Add to Basket

Shipping: US$ 24.36
From United Kingdom to U.S.A.
Destination, Rates & Speeds

6.

Perry Mehrling
Published by Princeton University Press (2010)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Hardcover Quantity Available: 1
Seller
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description Princeton University Press, 2010. Hardcover. Book Condition: New. book. Bookseller Inventory # M0691143986

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 34.79
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

7.

Perry Mehrling
Published by Princeton University Press 2010-11-08 (2010)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Hardcover Quantity Available: 2
Seller
Chiron Media
(Wallingford, United Kingdom)
Rating
[?]

Book Description Princeton University Press 2010-11-08, 2010. Hardback. Book Condition: New. Bookseller Inventory # NU-BER-00113665

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 32.33
Convert Currency

Add to Basket

Shipping: US$ 3.83
From United Kingdom to U.S.A.
Destination, Rates & Speeds

8.

Perry Mehrling
Published by Princeton University Press, United States (2011)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Hardcover Quantity Available: 1
Seller
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description Princeton University Press, United States, 2011. Hardback. Book Condition: New. Language: English . Brand New Book. 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. Revealing how we arrived at the current crisis, Perry Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America s unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis. Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers money view, which looks to the money market to assess risk and restore faith in our financial system. Bookseller Inventory # AAU9780691143989

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 35.56
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

9.

Perry Mehrling
Published by Princeton University Press 2010-12-10, Princeton, N.J. |Woodstock (2010)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Hardcover Quantity Available: > 20
Seller
Blackwell's
(Oxford, OX, United Kingdom)
Rating
[?]

Book Description Princeton University Press 2010-12-10, Princeton, N.J. |Woodstock, 2010. hardback. Book Condition: New. Bookseller Inventory # 9780691143989

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 35.65
Convert Currency

Add to Basket

Shipping: US$ 3.85
From United Kingdom to U.S.A.
Destination, Rates & Speeds

10.

Perry Mehrling
Published by Princeton University Press, United States (2011)
ISBN 10: 0691143986 ISBN 13: 9780691143989
New Hardcover Quantity Available: 1
Seller
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Princeton University Press, United States, 2011. Hardback. Book Condition: New. Language: English . Brand New Book. 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. Revealing how we arrived at the current crisis, Perry Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America s unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis.Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers money view, which looks to the money market to assess risk and restore faith in our financial system. Bookseller Inventory # AAU9780691143989

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 36.48
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

There are 33 more copies of this book

View all search results for this book