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The Fed and the Credit Crisis

J. Kevin Corder
The Fed and the Credit Crisis
ISBN: 978-1-58826-820-4
2012/181 pages/LC: 2012000229

"Offers an important and provocative perspective on past and future challenges facing the system. It deserves a careful reading by scholars interested in both the politics of central banking and the slow and contingent process of institutional change."—Sarah A. Binder, Perspectives on Politics

"A tour-de-force. This is by far the best account I've seen of the Federal Reserve's role in the financial crisis."—Mark Cassell, Kent State University


What was the role of the Federal Reserve System in the 2008 financial crisis—as a cause of the crisis, as the most important government agency to respond, and as the center of federal efforts to prevent another crisis? J. Kevin Corder provides an incisive account of the Fed choices that contributed to the "crash of 2008."

Centering his analysis on the oversight of mortgage lending and the regulation/supervision of financial institutions and instruments, Corder draws out the implications of the crisis for the Fed's mission. Equally, he charts the new political and technical challenges that the system faces as the financial sector recovers.


J. Kevin Corder is professor of political science at Western Michigan University. He is the author of Central Bank Autonomy: The Federal Reserve System in American Politics.


  • How Will the Credit Crisis Transform the Fed?
  • Subprime Lending and the Mission of Consumer Protection.
  • The Fed, Wall Street, and Housing Finance.
  • Bank Supervision and the Basel Accords.
  • The Fed and the Shadow Banking System.
  • The $2 Trillion Balance Sheet.
  • Learning from the Crisis.