The Achilles Heel of Banking
March 1, 2014
Reviewed by Gene Epstein
This readable, erudite, myth-busting tome has a somewhat ambiguous title. By calling the banking systems of the U.S. and other nations “fragile by design,” Columbia University finance professor Charles Calomiris and Stanford University political-science professor Stephen Haber are not claiming that the designers of these systems intend them to be fragile.
» See full article in Barron’s.