New Theory of Money

I found this to be a very interesting read on financial systems.
Time for a New Theory of Money

I find the central arguments around the purpose of banking very interesting - that banks should exist for reasons other than the profit motive - that they serve a public role of money creation (due to fractional reserves banks essentially create money when they create a loan). It places banks somewhere between a pure economic animal and makes it a hybrid public/private institution. The discussion attributes much of the recent economic problems to banks getting into businesses they were never intended for, and argues for back to basics banks, even if state owned.