A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the center of this book.

'Dr. Roselli's book is essential reading for all who wish to understand the recent crisis and make reoccurrence less likely. It combines understanding of history with economic analysis and the experience and knowledge of a practicing central banker. This is political economy at its best readable, well informed, and thoughtful.'

- Geoffrey Wood, Professor Emeritus of Economics, Cass Business School, UK and Professor Emeritus of Monetary Economics, University of Buckingham, UK

'Alessandro Roselli's book offers an insightful and timely study of financial regulation. It is a storehouse of valuable information and sound analysis. The historical perspective and the comparative approach make the book a unique contribution to the literature on banking. The book casts much needed light to the understanding of the recent crisis. Practitioners in both the legal and the economic profession, policy-makers, academics and students will greatly benefit from reading this book.'

- Rosa Maria Lastra, Professor in International Financial and Monetary Law, Queen Mary, University of London, UK