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.
In BANK 3.0, Brett King brings the story up to date with the latest trends redefining financial services and payments—from the global scramble for dominance of the mobile wallet and the expectations created by tablet computing to the operationalising of the cloud, the explosion of social media, and the rise of the de-banked consumer, who doesn't need a bank at all.
BANK 3.0 shows that the gap between customers and financial services players is rapidly widening, leaving massive opportunities for new, non-bank competitors to totally disrupt the industry.
"On the Web and on Mobile, the customer isn't king—he's dictator. Highly impatient, skeptical, cynical. Brett King understands deeply what drives this new hard-nosed customer. Banking professionals would do well to heed his advice."
—Gerry McGovern, author of Killer Web Content
Breaking Banks: The Innovators, Rogues, and StrategistsRebooting Banking is a unique collection of interviews takefrom across the global Financial Services Technology (or FinTech)domain detailing the stories, case studies, start-ups, and emergingtrends that will define this disruption.Features the author's catalogued interviews with experts acrossthe globe, focusing on the disruptive technologies, platforms andbehaviors that are threating the traditional industry approach tobanking and financial servicesTopics of interest covered include Bitcoin's disruptive attackon currencies, P2P Lending, Social Media, the Neo-Banks reinventingthe basic day-to-day checking account, global solutions for theunbanked and underbanked, through to changing consumerbehavior
Breaking Banks is the only record of its kind detailingthe massive and dramatic shift occurring in the financial servicesspace today.