New Deal financial reforms wrestled with a dilemma that is instructive for contemporary advocates of economic change. A project of financial reform that puts constraints on finance may impair the profitability of financial capitalists, thus provoking financial capital to sabotage the financial...

Finance-as-servant? : new deal banking reforms and Keynesian welfare state capitalism -- The contradictory imperatives of the finance-as-servant agenda -- Finance-as-servant and the blending of commercial and investment banking -- Prelude to the 1930s : the rise and repudiation of commercial...