Banks, exchanges, and regulators : global financial markets from the 1970s

Abstract

Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. Banks, exchanges, and regulators were faced with unprecedented challenges and opportunities as a revolution swept away traditional ways of conducting banking, the methods used to trade in financial markets, and the rules and regulations employed to enforce discipline. In this book Ranald C. Michie provides an authoritative and unrivalled account of this upheaval based on a careful and exhaustive reading of the Financial Times over the last four decades, using it to provide a source of material unmatched by any other in terms of depth and coverage. By studying what happened and why in real time, it is possible to explain the decisions taken that shaped the course of the transformation and its repercussions.