Beggar Thy Neighbor: A History of Usury and Debt

Index

Index Aaron of England, 52 Acciaiouli family, 69 accounting, 63–64; bookkeeping, double entry, 4, 63–64; tally stick, 65 accumulating interest. See interest, compound actuary tables, 68, 94, 100–101 Adams, James Truslow, 208 advertising, 174, 184, 208, 306 AIG, 328 “Air Fund,” 263 Al-Azhar Islamic Research, 277 Alexander III (pope), 35 alterum tantum, 3, 17, 18, 24, 244, 275; credit cards, 318–22 Altman, Edward, 214 American colonies, 7, 84, 100, 349n22; usury in, 114–18 “American Dream,” 208, 300 American Dry Dock Company v. The American Life Insurance and Trust Company, 154–55 Amicable Society for Perpetual Assurances, 112 amortization, 186, 189, 243, 246, 319; negative, 311 AMP (alternate mortgage product), 313, 318 anatocismus, 3, 10, 17, 18, 24, 123, 128, 130, 352n20 anatocismus anniversarius, 16 Anne (England), 102, 105 annuities, 8, 82, 98; bogus schemes, 111–12, 113; calculations, 85–86, 93; “census,” 93; city government, 93–94; origins of, 66–69; risk and, 94; speculative element of, 99; tables, 94, 100; as widow and orphan investment, 93–96. See also tontines Annuity Act (1777), 114 Anselm of Canterbury, 26 Anselm of Lucca, 26 Appian, 17 Aquinas. See Thomas Aquinas Arab Banking Corporation, 277 Arabic numbers, 39–40 arbitrage, 323; bond arbitrage, 268; interest rate arbitrage, 322–23; regulatory arbitrage, 9, 272 Argentina, 269–71 Arians, 30 Aristotle, 3, 19, 81, 134; Politics, 48 ARMs (adjustable rate mortgages), 257–58, 311, 314 asset markets, 8; asset-backed securities (ABSs), 226, 227, 283, 287, 317, 319, 324 auto industry, 188–89 Averroes, 48 Avicenna, 48 Ayenbite of Inwyt, 53 Azo of Bologna, 32 “Aztec” bonds, 247 378 Index Babylonian captivity (papacy), 42 Bacon, Francis, 83 Baldwin II (Latin Kingdom of Jerusalem), 42 Banco Monte dei Paschi de Siena, 63 Bank Americard, 211 Bank for International Settlements (BIS), 249, 304, 324 banking, 41–48, 103–14; bid rate, 236; capital standards, 249; commercial banks, 233–34, 302; deregulation, 219, 312, 323, 325; fee banking, 69–70, 233; float management, 155–56, 305–8, 358n3; international, 41, 47, 130–32; investment banking, 233–71 passim, 302; in Italian city-states, 47–48, 69–73; Knights of Templars, 42–44; margin transactions, 155; national banking systems, 73–84, 106–7, 156; nationally chartered banks, 210; overdraft facilities, 208; as quasi-insurance enterprise, 250, 303; real estate market, 209–10; retail, 183–229, 233; savings and loan associations, 188; shadow banking system, 295, 299, 324–25; shallow banking system, 227, 228; spread, 69, 232, 235, 236, 322; state-chartered banks, 210 Banking Act of 1933, 193 Bank of America, 183, 246 Bank of England, 106–9, 135–36, 229 Bank of Italy, 183 Bank of the United States, 191 bankruptcy, 9, 11, 223, 320–21; bankruptcy remote, 227; Chapter 7, 223–24, 320, 321; Chapter 11, 223–24; Chapter 13, 223–24, 320, 321; credit cards, 320; in England, 104–5, 148; international bankruptcy, 271; in United States, 139–43, 178–79 Bankruptcy Abuse Protection and Consumer Protection Act of 2005, 321 Bardi family, 69, 70 Baring Brothers, 131, 132, 350–51n46 Basel 1, 304 Basel 2, 304 Bear Stearns, 324–25; “too big to fail,” 327 Beatrice Foods, 264 “beggar thy neighbor” (terminology), 4, 96, 121, 235, 300 Belmont, August, 132 Benedict XIV (pope), 119, 149 Bentham, Jeremy, 133–35, 143 Bernanke, Ben, 325 Bernard of Clairvaux, 37, 42, 275 Bernoulli, Jakob, 99 biblical references, 14–15, 22–23, 230. See also New Testament sources; Old Testament sources bills of exchange, 28–29, 66, 72; exempting, 115 Black-Scholes options model, 268, 305 Blackstone, William, 117, 134 black swan, 304, 305, 325 Bodin, Jean, 86 body politic, 61 bond arbitrage, 268 bond markets, 98, 205–8, 302; 5–20s, 162, 165; 7–30s, 164, 165; asset-backed bonds, 287; Brady bonds, 246–47; corporate bonds, 198–99, 208; fallen angels, 259; foreign bonds, 208; junk bonds, 260–66; Liberty Bonds, 184; perpetuals, 157; railroad bonds, 185; securitized bond obligations, 326; treasury bonds, 185; war and, 157–66, 184–86; zero coupon bond, 246–47 Boniface VIII (pope), 41–42, 45 Bonsignori banking house, 69 bookkeeping, double-entry, 4, 63–64 Book of Abacus, 39–40, 59 borrowers: borrowing explosion of 1970s, 238; children of debtors, 17; Islamic treatment of, 281; LDCs (less-developed countries) as borrowers, 239–45; under Lombard law, 25–26; penalties for not repaying loans, 16–17; plebeians as, 16; sanctuary, 33; servile relationship of debtors, 32, 33; syndicated borrowers, 240–45. See also loans Boyer...