This is a marvelous book! Well-written–even enjoyable to read–about local banking! Packed with important information, not only for the expert, but for anyone, activist or public official, Put it on top of your reading pile!

– Gar Alperovitz, author of What Then Must We Do?

A clear, accessible, practical, grounded, and authoritative intro- duction to how banks account for their use of your money.

– David Korten, author of Agenda for a New Economy: From Phantom Wealth to Real Wealth

What do they think they’re doing? The global network of banks, brokers, funds, dealers, servicers, and all the rest is a marvel of the 21st century–for better and frequently worse. In the aftermath of the worst financial crisis in a generation, there has never been a more important time to understand how the system works… and why it doesn’t.

Checking the Banks is an easy-to-read primer on how a bank–and the banking system–works. Complex ideas, like bank capital, leverage, risk-weighting, and repo transactions are explained in clear, understandable language.

This is a book for

People who want to understand banks,

Activists determined to change them,

Reformers seeking to build alternatives.