Go offline with the Player FM app!
Lender of Last Resort
Manage episode 517660493 series 2496220
When Michael Lewis wrote The Big Short, there was an extra character in the story: The Federal Reserve System, the central bank of the US, which bought up bad debt on the balance sheets of big Wall Street banks and trading firms. To better understand the Fed’s role in the financial crisis of 2008, Michael turns to UC Berkeley economics professor Emi Nakamura. And in the process, we get a master class in how currency works, and why there’s still some gold in the vaults of the Fed.
For more, check out Emi Nakamura’s Macro Policy Lab.
Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.
See omnystudio.com/listener for privacy information.
140 episodes
Manage episode 517660493 series 2496220
When Michael Lewis wrote The Big Short, there was an extra character in the story: The Federal Reserve System, the central bank of the US, which bought up bad debt on the balance sheets of big Wall Street banks and trading firms. To better understand the Fed’s role in the financial crisis of 2008, Michael turns to UC Berkeley economics professor Emi Nakamura. And in the process, we get a master class in how currency works, and why there’s still some gold in the vaults of the Fed.
For more, check out Emi Nakamura’s Macro Policy Lab.
Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.
See omnystudio.com/listener for privacy information.
140 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.