Preparation

• Melt 1 Tbs. of the butter and the oil in a heavy-duty 6-quart pot over medium-high heat. Add the chard stems and shallot and cook until starting to soften, about 2 minutes. Add the chard leaves by the handful, stirring until wilted. Add the garlic and cook, stirring, for about 30 seconds. Transfer to a colander set over a bowl.
• Put the pot over medium heat and add the remaining 1-1/2 Tbs. butter. When melted, add the flour, stirring until it becomes slightly golden, about 1 minute. Reduce the heat to medium low and crumble in the saffron, then slowly whisk in the half-and-half and simmer until thickened.
  
• Add the chard and cook until heated through. If too thick, thin with a little of the chard liquid. Season to taste with salt and pepper, and serve.