Checking the Banks
The Nuts and Bolts of Banking for People Who Want to Fix It
The global network of banks, brokers, funds, dealers, servicers, and all the rest is a marvel of the 21st century—for better and frequently worse. In the aftermath of the worst financial crisis in a generation, there has never been a more important time to understand how the system works... and why it doesn't.
Checking the Banks is an easy-to-read primer on how a bank—and the banking system—works. Complex ideas, like bank capital, leverage, risk-weighting, and repo transactions are explained in clear, understandable language.
This is a book for:
· People who want to understand banks,
· Activists determined to change them,
· Reformers seeking to build alternatives.
"This is a marvelous book! Well-written—even enjoyable to read—about local banking! Packed with important information, not only for the expert, but for anyone, activist or public official, Put it on top of your reading pile!"
— Gar Alperovitz, author of What Then Must We Do?
"A clear, accessible, practical, grounded, and authoritative intro- duction to how banks account for their use of your money."
— David Korten, author of Agenda for a New Economy: From Phantom Wealth to Real Wealth