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America's Bank
America's Bank: The Epic Struggle to Create the Federal Reserve | Roger Lowenstein
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Chronicles the tumultuous era and remarkable personalities that created the Federal Reserve, tracing the financial panic and widespread distrust of bankers that prompted the landmark 1913 Federal Reserve Act and launched America's first steps onto the world financial stage.
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Lowenstein explains why 19th century banking sucked; the options for reform; and the political maneuvering and countermaneuvering that resulted in the Federal Reserve Act. It's not always easy reading -- sometimes it's like a crash course in monetary policy -- but the personalities are entertaining, the controversies intriguing, and I very much appreciate the insight into the origin of an institution I only vaguely understood.

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