分类： 银行书

关于美联储的最佳书籍：美联储不受约束
Lev Menand 认为美联储迷失了方向，主要是因为它一直在处理美国中央银行原定范围之外的项目。由于这种做法，梅南德认为美联储无意中扩大了这个国家的财富不平等。
在《美联储不受约束：危机时期的中央银行》（哥伦比亚全球报告系列的一部分）中，这位哥伦比亚大学法学副教授、纽约联邦储备银行前经济学家、巴拉克奥巴马总统领导下的财政部官员认为美联储经常承担国会应该处理的事情。一些例子：美联储在 2020 年的资产负债表上增加了 3 万亿美元，以避免在 COVID-19 大流行的头几个月发生金融恐慌，以及美联储对 2008 年危机的处理，以防止经济陷入衰退。
Menand 写道，美联储每次加紧行动，都会刺激非银行货币创造的更多增长。他指出，2008 年，非银行货币总计占美国货币供应量的 15 万亿美元，而传统银行存款为 7 万亿美元，实物现金为 1 万亿美元。
“今天，美联储不再只是通过管理银行系统（中央银行的工作）来管理货币供应，”梅南德写道。“它正在通过像紧急政府征信局或国家投资机构一样使用其资产负债表来应对持续的经济和金融危机——创造新的资金来支持金融公司、扩大金融市场以及投资于企业和市政当局。”
Best Book on the Fed: The Fed Unbound
Lev Menand thinks the Federal Reserve has lost its way, mainly because it’s been tackling projects outside of the U.S. central bank’s original scope. Because of that practice, Menand contends that the Fed has inadvertently expanded this country’s wealth inequality.
In The Fed Unbound: Central Banking in a Time of Crisis, which is part of the Columbia Global Reports series, this associate professor of law at Columbia University, former economist with the Federal Reserve of New York, and Treasury official under President Barack Obama believes that the Fed routinely takes on what Congress should be handling. Some examples: when the Fed added $3 trillion to its balance sheet in 2020 to avert a financial panic during the first months of the COVID-19 pandemic and its handling of the 2008 crisis to keep the economy out of recession.
Each time the Fed steps up, writes Menand, it stimulates more growth in nonbank money creation. In 2008, he notes, nonbank money totaled $15 trillion of the U.S. money supply, compared to $7 trillion in traditional bank deposits and $1 trillion in physical cash.
“Today, the Fed is no longer just managing the money supply by administering the banking system [the central bank’s job],” Menand writes. “It is fighting persistent economic and financial crises by using its balance sheet like an emergency government credit bureau or national investment authority—creating new money to backstop financial firms, expand financial markets, and invest in businesses and municipalities.”

最佳帮助被金融体系排除在外的女性：十亿女性无微不至
Mary Ellen Iskenderian 最初在高级金融、并购领域工作，然后在雷曼兄弟公司担任投资银行家。然而，她很快意识到她的热情并不是赚大钱。Iskenderian 继续成为女性世界银行的总裁兼首席执行官，这是一家全球性非营利组织，致力于为低收入女性提供获得自身安全和繁荣所需的金融工具和资源
在《十亿女性无微不至：让金融为女性服务》一书中，她写道，她的使命是尽自己的一份力量来纠正全球约 10 亿女性被排除在正规金融体系之外的问题。被拒之门外意味着这些女性没有银行账户，无法存钱、支付账单或获得信贷。这使他们没有必要的资金继续前进或退出某种情况，例如不再为他们和他们的孩子工作的糟糕婚姻。这也意味着它们无法为经济增长做出贡献。
Women’s World Banking 在墨西哥、印度尼西亚、尼日利亚和肯尼亚设有前哨站，帮助许多经济发展中国家的妇女。它现在正在开设一个美国分支机构，该分支机构将解决美国的收入不平等问题——美国女性拥有男性资产的 40%，而黑人和拉丁裔女性拥有的资产要少得多，分别为 12% 和 8%。该非营利组织还运营着两个影响力投资基金，管理资产 (AUM)达 1.5 亿美元。
Best on Helping Women Excluded From the Financial System: There’s Nothing Micro About a Billion Women
Mary Ellen Iskenderian started out working in high finance, merger & acquisitions, then as an investment banker at Lehman Brothers. However, she soon realized that her passion was not making lots of money. Iskenderian went on to become president and CEO Women’s World Banking, a global nonprofit focused on giving low-income women access to the financial tools and resources they need for their own security and prosperity
In There’s Nothing Micro About a Billion Women: Making Finance Work for Women, she writes that her mission is doing her part to rectify how about one billion women worldwide are excluded from the formal financial system. Being shut out means that these women don’t have a bank account, are unable to save money, pay bills or get credit. This leaves them without the wherewithal to move ahead or exit a situation, such as a bad marriage that is no longer working for them and their children. It also means that they are unable to contribute to economic growth.
Women’s World Banking helps women in many economically developing nations with outposts in Mexico, Indonesia, Nigeria, and Kenya. It is now starting a United States branch, which will tackle American income inequality—U.S. women have 40% of the assets of men, and Black and Latina women have much less, 12% and 8%, respectively. The nonprofit also runs two impact investing funds with $150 million in assets under management (AUM).

DeFi最佳解读：DeFi与金融的未来
“DeFi 从根本上说是一个竞争激烈的去中心化金融应用程序市场，它充当各种金融‘原语’，例如交换、保存、借出和代币化，”杜克大学金融学教授 Campbell R. Harvey 写道；Ashwin Ramachandran，一位将军Dragonfly Capital 的合伙人；Fei Labs 的创始人 Joey Santoro 在DeFi 和金融的未来中提出了通往金融未来的潜在途径。
他们认为，虽然传统金融具有“脂肪层和低效层”，剥夺了普通消费者的价值，但权力下放有助于防止贫富差距扩大。然而，去中心化也有缺点，他们承认：“扩展和智能合约漏洞等某些风险困扰着所有 DeFi，克服这些风险对于 DeFi 的主流采用至关重要。” 在彭博评论中，Penske Media Corp. 董事长兼首席执行官 Jay Penske 写道：“这本书是一个有用的指南，概述了一些将破坏金融生态系统的公司，同时消除烟雾和镜子。”
Best Explanation of DeFi: DeFi and the Future of Finance
“DeFi is fundamentally a competitive marketplace of decentralized financial applications that function as various financial ‘primitives’ such as exchange, save, lend, and tokenize,” write authors Campbell R. Harvey, a finance professor at Duke University; Ashwin Ramachandran, a general partner at Dragonfly Capital; and Joey Santoro, founder of Fei Labs, in DeFi and the Future of Finance, which presents one potential pathway to the financial future.
They contend that while traditional finance has “layers of fat and inefficiency” that robs value from the average consumer, decentralization can help prevent widening the wealth gap. Yet, decentralization comes with drawbacks, too, they acknowledge: “Certain risks like scaling and smart contract vulnerabilities plague all DeFi, and overcoming them is crucial to DeFi’s mainstream adoption.” In a Bloomberg review, Jay Penske, chairman and CEO of Penske Media Corp., wrote: “The book serves as a helpful guide, outlining some of the companies that will disrupt the financial ecosystem, while cutting through the smoke and mirrors.”