The Federal Reserve and its founders : money politics and power / Richard A. Naclerio.

Format:

Book

Author/Creator:

Naclerio, Richard A., author.

Language:

English

Subjects (All):

Federal Reserve banks.

Board of Governors of the Federal Reserve System (U.S.).

Physical Description:

ix, 226 pages : illustrations ; 24 cm

Place of Publication:

Newcastle upon Tyne : Agenda Publishing Limited, 2018.

Summary:

The U.S. Federal Reserve has been with us for just over one hundred years. Founded in response to a major economic panic, it has played a key role in the world economy ever since, including the recent global economic downturn. The Fed's structure is unique among central banking systems. Many people think it is a government agency, that it was created by politicians for the benefit of the U.S. economy, and that it is regulated by the U.S. government. None of these assumptions are true. To fully understand the Federal Reserve and its role today we need to examine its origins and the men that founded it. Using extensive archival sources, Richard A. Naclerio investigates the highly secretive events that surrounded the Fed's creation and the bankers, financiers, and economists that played a fundamental part in shaping both its organization and the role it was to play over the next century. In particular, the book examines the motivations of those seven men who met in secret on Jekyll Island, Georgia to create the first draft of the Federal Reserve Act, and reveals the banking and business ties and shared ideologies that bound these men together. The book makes a significant contribution to economic and financial history and sheds new light on the making of one of the world's most important financial institutions and how it came to have the national and international influence it does.

Contents:

1 The Genesis p. 5

2 The System p. 19

3 The Island p. 37

4 The Politician p. 43 / Nelson W. Aldrich

5 The Architect p. 61 / Paul M. Warburg

6 The Lieutenant p. 79 / Benjamin Strong, Jr

7 The Emissary p. 97 / Henry P. Davison

8 The Professor p. 115 / A. Piatt Andrew

9 The Farm Boy p. 137 / Frank A. Vanderlip

10 The Panic, the Pirate, and Pujo p. 159

11 The War p. 171

12 The Journalist p. 181 / Bob Ivry.

ISBN:

1911116037

9781911116035

1788210786

9781788210782

OCLC:

965761285

Publisher Number:

99977724370