…quisite reserve ratio, one can determine the money stock using the money multiplier (Sheard, 2013). The implication of this analysis, as stated by Bernanke to Congress (Congressional Oversight Panel, 2009: 117), is that given the excess reserves in the hands of banks since the recession (See chart 7), the banks have failed to play their role in revitalizing the economy (Keister & McAndrews, 2009). In fact, this apparent dilemma has led to a number of proposals aimed …