Other people's money: masters of the universe or servants of the people?

Pt. I. Financialisation: 1. History: The road to Pottersville

The rise of the trader

New markets, new businesses

From crisis to crisis

The robber barons

We are the 1 per cent

2.Risk: Cows, coffee and credit default swaps

Chasing the dream

Adverse selection and moral hazard

3. Intermediation: The role of the middleman

Liquidity

Diversification

Leverage

4. Profits: Smarter people

Competition

The Edge

Regulatory arbitrage

I'll be gone, you'll be gone

How profitable is the finance sector?

pt. II. The functions of finance: 5.Capital allocation: Physical assets

Housing

Property and infrastructure

Large companies

Financing small and medium-size enterprises

6.The deposit channel: Household wealth

The payment system

The activities of the deposit channel

7.The investment channel: Stewardship

A bias to action

The role of the asset manager

pt. III. Policy: 8.Regulation: The origins of financial regulation

The Basel agreements

Securities regulation

The regulation industry

What went wrong

9. Economic policy: Maestro

Financial markets and economic policy

Pensions and inter-generational equity

Consumer protection

The British dilemma

10. Reform: Principles of reform

Robust systems and complex structures

Other people's money

The reform of structure

Personal responsibility

11.The future of finance.