Calomiris offers a revealing exploration of the ways that politics inevitably intrudes into bank regulation. He combines political history and economics to examine how coalitions of politicians, bankers, and other interest groups form; why some endure while others are undermined; and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues.
Charles W Calomiris is the Henry Kaufman Professor of Financial Institutions at Columbia Business School.