Various, The Squam Lake Report: Fixing the Financial System, Princeton University Press June 2010, 168 pages
Central bankers are notorious for, among other things, their conservatism. Rightly so. Such caution goes handin-hand with credible commitments to make policy based on carefully constructed frameworks with well entrenched theoretical underpinnings.
However, when such policy frameworks are proven by reality, with its disregard for rules and order, to be if not wholly flawed insufficient in