Other People's Money and How the Bankers Use It (Barnes & Noble Library of Essential Reading)

by Louis D. Brandeis, Melvin I. Urofsky (Introduction)

Overview

There are few indictments of the American banking system as searing as Other People’s Money and How the Bankers Use It, written by Louis D. Brandeis in 1913. Long considered one of the major muckraking exposés of the Progressive period, it still speaks powerfully to our own times. The book led to the establishment of stringent regulations on the banking system, rules that undergirded decades of pros­perity and stability for both banks and the American economy after World War II. Weakening those rules led to the great banking meltdown of 2008, when once again the greed and recklessness that Brandeis had warned about triggered a major depression and cost hundreds of thousands of people their jobs and homes.

Product Details

ISBN-13:	9781411435025
Publisher:	Barnes & Noble
Publication date:	03/15/2011
Series:	Barnes & Noble Library of Essential Reading
Sold by:	Barnes & Noble
Format:	eBook
Pages:	160
File size:	814 KB
Age Range:	3 Months to 18 Years

About the Author

Louis Dembitz Brandeis is known to most people as one of the giants of American constitutional law. Among Progres­sives he led the attack against monopolies and what he termed the “curse of bigness,” charging that the large banks, headed by J. P. Morgan, had created a money trust. In 1912 a congres­sional committee held extensive hearings that uncovered how those banks used their financial power to dominate American industry. Brandeis took these revelations and interpreted them into popular language in this book.