Chances are you can't name a single central banker from the 1920s, but in their day, they were quite the celebrities, even giving false names when traveling by ocean liner in order to dodge the press. These were the men who—in the wake of WWI and the economic destruction it wrought—returned the world to the gold standard, used interest rates to bolster the value of currencies and let stock speculation run rampant. In short, they helped lay the groundwork for the Great Depression. In Lords of Finance: The Bankers Who Broke the World, investment manager Liaquat Ahamed tells the story of these men—a tale with plenty to resonate with today's economic malaise. Time's Barbara Kiviat spoke with him.

Who were these people, these members of what newspapers dubbed the "most exclusive club in the world"?

The principal figure was the head of the Bank of England, a fellow called Montagu Norman. He was a complete eccentric. He carried the mystique that Alan Greenspan did a few years ago. His major problem was he had a very fragile mental constitution—not a good attribute if you're a central banker—but he exerted this influence, particularly on Americans. They were just completely bowled over by him. ... (Read the full interview)