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We shouldn't get any banking advice from anyone from the 1800's.

• pjmorris 8y ago
  You should weigh any advice on its merits.
• pjmorris 8y ago
  If you're seeking to broaden your perspective, you might find "Bagehot's Dictum in Practice: Formulating and Implementing Policies to Combat the Financial Crisis", written by a director at the Fed, to be worth your time. [0] https://www.federalreserve.gov/newsevents/speech/madigan20090821a.htmhttps://www.federalreserve.gov/newsevents/speech/madigan20090821a.htm https://www.federalreserve.gov/newsevents/speech/madigan2009...
• seppin 8y ago
  That's like saying we shouldn't pay attention to the lessons of the great depression because it was in the 1930s.
  • danharaj 8y ago
    You shouldn't take advice on building a stable financial system from 1920s economists either. Take lessons from their failures? Yes. Not what the GP was saying.