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SUMMARY:Respectable banking: the search for stability in London’s money 
 and credit markets since 1695 - Dr Anthony Hotson\, Centre for Financial H
 istory and Darwin College
DTSTART:20171005T160000Z
DTEND:20171005T173000Z
UID:TALK74731@talks.cam.ac.uk
CONTACT:Dr Duncan Needham
DESCRIPTION:The financial collapse of 2007–8 questioned our assumptions 
 about the underlying basis for stability in the financial system.  Anthony
  Hotson offers a reassessment of the development of London's money and cre
 dit markets since the great currency crisis of 1695. He shows how this per
 iod has seen a series of intermittent financial crises interspersed with s
 uccessive attempts to find ways and means of stabilizing the system. He em
 phasises\, in particular\, the importance of various principles of sound b
 anking practice\, developed in the late nineteenth century\, that helped t
 o stabilize London's money and credit markets. He shows how these principl
 es informed a range of market practices that limited aggressive forms of f
 unding\, and discouraged speculative lending. A tendency to downplay the i
 mportance of these regulatory practices encouraged a degree of complacency
  about their removal\, with consequences right through to the present day.
LOCATION:Old Library\, Darwin College
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