Summary of Jimmy Stewart is Dead

Ending the World's Ongoing Financial Plague with Limited Purpose Banking

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Jimmy Stewart is Dead book summary
Jimmy Stewart played a banker who had a wonderful life, but that’s just Hollywood. Find out how “limited purpose banking” can lead to a genuine, happy financial ending.


8 Overall

7 Importance

8 Innovation

9 Style


There’s no use pining for the good old days – It’s a Wonderful Life was just a Hollywood movie, the town of Bedford Falls doesn’t really exist and Jimmy Stewart is long gone. But earth-shattering economic tumult has a way of evoking nostalgia for the return of (what you think were) simpler, more honest fiscal times. Economist Laurence J. Kotlikoff delivers a salty, sometimes irreverent, but ultimately convincing remedy to cure you of the erroneous belief that banking should return to the past to make up for the sins of the present. He competently lays out his concept of how “limited purpose banking” would work while hoisting on their own petard the crafty bankers, sinister lenders and obfuscating bureaucrats who nearly crashed the economy. getAbstract recommends Kotlikoff’s original interpretation of events resulting from the 2008 crisis and his exposition of the far-reaching solution he offers, but quibbles over just one point: George Bailey ran the Bailey Building and Loan, not the Bailey Savings and Loan.

In this summary, you will learn

  • How the response to the 2008 financial crisis has placed unsustainable demands on government to support the existing financial structure
  • How “limited purpose banking” can restore confidence in the banking industry


So Long, Bedford Falls
In the classic 1946 film It’s a Wonderful Life, actor Jimmy Stewart plays George Bailey, a beleaguered banker in the town of Bedford Falls. When panic forces a run on his bank, Stewart assures his frightened depositors that their money is safe, because it...
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About the Author

Laurence J. Kotlikoff is an economics professor at Boston University and has worked with the World Bank and the IMF.

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