Market Rules

Although most Americans attribute shifting practices in the financial industry to the invisible hand of the market, Mark H. Rose reveals the degree to which presidents, legislators, regulators, and even bankers themselves have long taken an active interest in regulating the industry.

Rose explains the history of the financial industry as a story of individuals - some well-known, like presidents Kennedy, Carter, Reagan, and Clinton; treasury secretaries Donald Regan and Timothy Geithner; and JP Morgan CEO Jamie Dimon - and some less so, though equally influential, such as Kennedy's comptroller of the currency James J. Saxon, Citicorp CEO Walter Wriston, and Bank of America CEOs Hugh McColl and Kenneth Lewis.

Rose traces the evolution of supermarket banks from the early days of the Kennedy administration, through the financial crisis of 2008, and up to the Trump administration's attempts to modify bank rules. Deeply researched and accessibly written, Market Rules demystifies the major trends in the banking industry and brings financial policy to life.

The book is published by University of Pennsylvania Press. The audiobook is published by University Press Audiobooks.

Praise for the book:

"A lively and lucid account of banking and financial history over the past half century…a great achievement." (Walter Friedman, director of Business History Initiative at Harvard Business School)

"Engaging study...offers a unique voice." (Susie Pak, associate professor of history at St. John's University)