Home |Register |Sign In Home Top Picks: All Books America’s Bank America’s Bank by Roger Lowenstein Price: $18.00 (Paperback) MorePublished: October 18, 2016 Rating: 0.0/ 5 (0 votes cast) From the Publisher: A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the FederalReserve.</p><p> Today, the Fed is the bedrock of the financial landscape, yet thefight to create it was so protracted and divisive that it seems a smallmiracle that it was ever established.</p><p> For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system.</p><p> Americans’ mistrust of big government andof big banks—a legacy of the country’s Jeffersonian, small-governmenttraditions—was so widespread that modernizing reform was deemedimpossible.</p><p> Each bank was left to stand on its own, with no central reserve or lender of last resort.</p><p> The real-world consequences of this chaotic and provincial system were… Rate This Book Add To Wishlist |Rate/Review Add To Bookshelf Get This Book Personalize / Add More ChoicesGo to your preferred retailer, click to choose a format and you' ll be taken directly to their site where you can get this book.</p><p> What We Say Actually, watching sausage being made is rather fascinating.</p><p> That's what I learned from Roger Lowenstein's nonfiction work "America's Bank: The Epic Struggle To Create The Federal Reserve." Make no mistake -- this is a story about legislation,lawmaking designed to create a central bank for the US (just like the rest of the developed world) despite massive popular resistance to the very idea of big government.</p><p> And it was the Democratic Party -- whose Jacksonian DNA rebelled against federal power -- that made it happen.</p><p> Oh how times have changed.</p><p> Lowenstein lays out the story of what became known asthe Aldrich Plan very ably, from the many panics (capped by the Panic of 1907) that made the need for a central bankShare This Book About The Author Roger Lowenstein MoreROGER LOWENSTEIN reported for The Wall Street Journal for more than a decade.</p><p> His work has appeared in The Wall Street Journal, Bloomberg , The New York Reviewof Books, Fortune, The New York TimesMagazine, and other publications.</p><p> His books include Buffett, When Genius Failed, Origins …, and The End of Wall Street .</p><p> He has three children and lives with his wife inNewton, Massachusetts.</p><p> Release Info List Price: $18.00 (Paperback) Published: October 18, 2016 Publisher: Penguin Books Pages: 368 ISBN 10: 0143109847 ISBN 13: 9780143109846painfully obvious to the tussle over actually making it happen.</p><p> He details the secret meeting held on Jekyll Island that laid the groundwork for the Aldrich Plan to its transformation in Congress and how investigations into Wall Street corruption and politicians voting to benefit their own investments colored the final deal.</p><p> The tale has many heroes including the noble embrace of the idea by President Woodrow Wilson.</p><p> But above all Lowenstein champions the role of Paul Warburg, a GermanJew who became a naturalized citizen while he argued and cajoled and analyzed the plan in all its various permutations.Lowenstein manages to make financial debates and legislative back and forth both comprehensible and engaging, no smallfeat.</p><p> You'll learn how the Great Depression of 1929 and the Great Recession of 2008 were both ameliorated by elements of the Federal Reserve.</p><p> And yet those financial tragedies might have been softened much more or even prevented if certain battles had been won at the start.</p><p> That makes this a far from remote story. -- Michael Giltz What Others Say “As Roger Lowenstein tells it in ‘America’s Bank,’ an illuminating history of the Fed’s unlikely origin story, the central bank represented an ambitious — and not entirely successful — effort to resolve several long-standingtensions that lay at the heart of the American experiment in self-government: East Coast vs. the interior, urban sensibilities vs. rural ones, mercantile vs. agrarian interests, Wall Street vs.</p><p> Main Street.</p><p> It is still working out the kinks.”— Washington Post “The fun of the book — and its enduring value — lies in the rich details about the cranks, pawns and prophets who jousted with one another in the days of Teddy Roosevelt, William Taft and Woodrow Wilson.” – Forbes “Roger Lowenstein tells, vividly and compellingly,…the remarkable tale of the politics, disagreements, decisionsand crises that culminated in the Federal Reserve Act…But Lowenstein, the author of several works on economics and finance, builds off it to describe the history of the era, the rise of the Progressive movement, the compromises and machinations that were critical to Congressional passage and the key figures in the drama of creating the Federal Reserve System.”—Robert… More What You Say Filter by No Reviews Found ..... about us |faq|advertise |privacy policy |newsletter |contact us ©2018, BookBuddha LLc.</p><p> All Rights Reserved.
