BROADCASTS.com

b'Morgan Ricks is a law professor at Vanderbilt University and an expert on financial regulation. From 2009-2010, he was a senior policy adviser at the U.S. Treasury Department where he focused on financial stability initiatives. Morgan joins the show to discuss his new book, \\u201cThe Money Problem: Rethinking Financial Regulation,\\u201d which argues that shadow banking institutions create large sums of private sector money through issuing short-term debt. This rapid expansion creates instability to the financial system and to the broader economy. To solve this problem, Morgan proposes that only properly chartered, FDIC-insured banks be allowed to issue short-term liabilities. Although there may be more bureaucracy in insuring the financial system under this proposal, Morgan argues there would be less need for higher capital requirements and other regulations. David\\u2019s blog: http://macromarketmusings.blogspot.com/ Morgan Ricks\\u2019 Vanderbilt profile: http://law.vanderbilt.edu/bio/morgan-ricks David\\u2019s Twitter: @DavidBeckworth Morgan Ricks\\u2019 Twitter: @MorganRicks1 Related links: The Money Problem: Rethinking Financial Regulation https://www.amazon.com/Money-Problem-Rethinking-Financial-Regulation/dp/022633032X David\\u2019s review of The Money Problem in National Review (gated) https://www.nationalreview.com/magazine/2016-09-12-0100/morgan-ricks-the-money-problem \\u201cA Simpler Approach to Financial Reform\\u201d by Morgan Ricks http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2316900 \\u201cA Former Treasury Adviser on How to Really Fix Wall Street\\u201d by Morgan Ricks in The New Republic https://newrepublic.com/article/98659/wall-street-term-out-panic'