The American Monetary System: An Insider's View of Financial Institutions, Marke

Description: The American Monetary System by William H. Wallace The American Monetary System FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description Todays financial system is considerably more complex than in years past, as new financial instruments have been introduced that are not well understood even by the people and institutions that invest in them. Numerous high-risk opportunities are available, and the number of people who unwittingly wander into such ventures seems to grow daily. There is also the realization that peoples lives are affected by the financial system without their overt participation in it. Despite no active participation, pensions can be emasculated by a sudden decline in interest rates, or a rise in rates can increase the monthly payments on a mortgage, credit cards or other debt. This book looks at the history of the American banking system, including the passage of the Federal Reserve Act in 1913, the implementation of deposit insurance, along with certain other provisions of the Glass-Steagall Act of 1933, the Bretton-Woods agreements, the forces of technological innovation and the Dodd-Frank Act, passed by Congress in 2010 for regulatory reform. This book will be of interest to undergraduate and graduate level students that want to gain a broad understanding of how the financial system works, why it is important to the economy as a whole, and what its strengths and weaknesses are. Also, readers should gain an understanding of what the Federal Reserve, other regulators and other central banks are doing, and will be in a position to critique their actions and say with some depth of understanding why they agree or disagree with them. Back Cover Todays financial system is considerably more complex than in years past, as new financial instruments have been introduced that are not well understood even by the people and institutions that invest in them. Numerous high-risk opportunities are available, and the number of people who unwittingly wander into such ventures seems to grow daily. There is also the realization that peoples lives are affected by the financial system without their overt participation in it. Despite no active participation, pensions can be emasculated by a sudden decline in interest rates, or a rise in rates can increase the monthly payments on a mortgage, credit cards or other debt. This book looks at the history of the American banking system, including the passage of the Federal Reserve Act in 1913, the implementation of deposit insurance, along with certain other provisions of the Glass-Steagall Act of 1933, the Bretton-Woods agreements, the forces of technological innovation and the Dodd-Frank Act, passed by Congress in 2010 for regulatory reform. This book will be of interest to undergraduate and graduate level students that want to gain a broad understanding of how the financial system works, why it is important to the economy as a whole, and what its strengths and weaknesses are. Also, readers should gain an understanding of what the Federal Reserve, other regulators and other central banks are doing, and will be in a position to critique their actions and say with some depth of understanding why they agree or disagree with them. Table of Contents Introduction.- Part I.- Historical Perspectives on Money,Financial Institutions and Markets.- What Gives Money Its Value? -- From Goldto Paper.- What is Driving the Financial World Today?.- Part II Banking: Asset& Liability Management; Banking Supervision & Regulation.- How AreBanks Funded?.- How Do Banks Use Their Funds?.- Who Owns the Banks? BankCapital and the Basel Accord.- How Safe Are Our Banks?.- Part III FinancialMarkets and the Management of Financial Risk.- What Makes the System Work?.- WhoFinances American Industry? – The Relative Roles of Commercial and InvestmentBanking.- What Went Wrong and What Are We Doing to Fix It? –A Chronology ofFinancial Crises.- Why Have Financial Risks Skyrocketed, and How Is theIndustry Dealing With It?.- Part IV Central Banking and Monetary Policy.- WhatAre the Purposes and Functions of the Federal Reserve System? 248.- How isAmerican Monetary Policy Made, and How Does It Affect the Domestic and GlobalEconomies?.- About the Author.- Bibliography. Review This book is a true tour de force – a readable, comprehensive description of the evolution of The American Monetary System since the founding of the nation. Very few would have the intellectual capacity, the talent, the training and the experience to put it all in perspective. But somehow Bill Wallace has done the job.I worked with Bill closely when I was the Chairman of the Federal Reserve Board. Consequently, I was a principal beneficiary of his long experience, his well-balanced judgment, and his dedication to the Federal Reserve and its leadership.His varied responsibilities over the decades at "the Fed" provided a superb vantage point from which he could observe and participate in rapid financial change, the associated turbulence, and the official response to all-too-frequent crises. What I was slow to recognize was his ability to write so clearly and simply, making this book not only a point of reference about the world of finance but a well-informed readable analysis of one important element of American economic and political life.Bill Wallace was a model public servant, bringing his analytical skills together with a clear sense of the practical problems of monetary policy and financial regulation. He also loved to teach. It is the combination of those ingerests that make this book, with its subtitle of An Insiders View of Financial Institutions, Markets and Monetary Policy so relevant today.The book is not a blow-by-blow description of the latest and largest crisis. It does something more important. It puts todays problems in the context of inevitable change – change that has recurrent market characteristics even as it has features unique to a world of computers and the internet, of instantaneous communication, and of "synthetic" securities and"derivatives" instruments.Quite simply, it is a volume that deserves space on your book shelf. Paul Volcker12/9/2013 Review Quote This book is a true tour de force - a readable, comprehensive description of the evolution of The American Monetary System since the founding of the nation. Very few would have the intellectual capacity, the talent, the training and the experience to put it all in perspective. But somehow Bill Wallace has done the job. I worked with Bill closely when I was the Chairman of the Federal Reserve Board. Consequently, I was a principal beneficiary of his long experience, his well-balanced judgment, and his dedication to the Federal Reserve and its leadership. His varied responsibilities over the decades at "the Fed" provided a superb vantage point from which he could observe and participate in rapid financial change, the associated turbulence, and the official response to all-too-frequent crises. What I was slow to recognize was his ability to write so clearly and simply, making this book not only a point of reference about the world of finance but a well-informed readable analysis of one important element of American economic and political life. Bill Wallace was a model public servant, bringing his analytical skills together with a clear sense of the practical problems of monetary policy and financial regulation. He also loved to teach. It is the combination of those ingerests that make this book, with its subtitle of An Insiders View of Financial Institutions, Markets and Monetary Policy so relevant today. The book is not a blow-by-blow description of the latest and largest crisis. It does something more important. It puts todays problems in the context of inevitable change - change that has recurrent market characteristics even as it has features unique to a world of computers and the internet, of instantaneous communication, and of "synthetic" securities and "derivatives" instruments. Quite simply, it is a volume that deserves space on your book shelf. Paul Volcker 12/9/2013 Feature Provides historical perspective on the American banking system and financial institutions and their global effect from someone who was a participant Analyzes bank supervision and regulation efforts by United States regulatory agencies Investigates the larger role of commercial and investment banks in the US Details ISBN3319029061 Author William H. Wallace Language English ISBN-10 3319029061 ISBN-13 9783319029061 Media Book Format Hardcover Short Title AMER MONETARY SYSTEM 2013/E Edition Description 2013 Year 2014 Pages 228 Imprint Springer International Publishing AG Subtitle An Insiders View of Financial Institutions, Markets and Monetary Policy Place of Publication Cham Country of Publication Switzerland Edited by R. Todd Jewell Illustrations 12 Illustrations, color; 3 Illustrations, black and white; XXII, 228 p. 15 illus., 12 illus. in color. DOI 10.1007/978-3-319-02907-8 Publisher Springer International Publishing AG Publication Date 2014-01-17 Alternative 9783319379517 DEWEY 330.120973 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:96375457;

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