Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Category Archives: Financial System

Smithsonian Magazine – An Oral History of the March on Washington

Summer 1963 – “The potent symbolism of a demonstration at the Lincoln Memorial—timed to coincide with the centenary of the Emancipation Proclamation and following President John F. Kennedy’s announcement in June that he would submit a civil rights bill to Congress—transfixed the nation. The March on Washington for Jobs and Freedom also catapulted 34-year-old Martin… Continue Reading

The Economist – The data of the dark web

The data of the dark web  Jul 14th 2016 by THE DATA TEAM “SINCE the launch of the Silk Road five years ago, dark-web markets have represented a shadowy and much-maligned corner of the internet. And the secretive nature of such sites makes them difficult to study. But last year a researcher using the pseudonym… Continue Reading

Paper – decline in lifetime earnings mobility in the US

Working Paper 2016-05: Michael Carr and Emily Wiemers – Washington Center for Equitable Growth, The decline in lifetime earnings mobility in the U.S.: Evidence from survey-linked administrative data, May 3, 2016 “There is a sizable literature that examines whether intergenerational mobility has declined as inequality has increased. This literature is motivated by a desire to… Continue Reading

Nation’s Top Ten Consumer Complaints

News release, Consumer Federation of America – “Phony IRS agents and other imposter scams topped the list of fastest-growing complaints to state and local consumer protection agencies last year, according to the latest report from the annual survey conducted by Consumer Federation of America (CFA) and the North American Consumer Protection Investigators (NACPI). Thirty-three consumer… Continue Reading

IMF Structural Forces Weigh on Future U.S. Growth

Ali Alichi, IMF Western Hemisphere Department July 12, 2016 “U.S. growth resilient, forecast at 2.2 percent this year, 2.5 percent in 2017 Addressing long-term structural problems key to ensure continued solid growth U.S needs to lower public debt While the U.S. economy is doing well, continued solid growth hinges on addressing long-term issues of falling… Continue Reading

GAO Report – Audit of U.S. Consolidated Financial Statements

Management Report: Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements, GAO-16-621: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016. “During its audit of the fiscal year 2015 consolidated financial statements of the U.S. government (CFS), GAO identified control deficiencies in the Department of the Treasury’s (Treasury) and… Continue Reading

CEO pay remains up 46.5% since 2009 – make 267 times more than typical workers

Economic Policy Institute, By Lawrence Mishel and Jessica Schieder,  July 12, 2016: “What this report finds: In 2015, CEOs in America’s largest firms made an average of $15.5 million in compensation, which is 276 times the annual average pay of the typical worker. While the CEO-to-worker compensation ratio is down from 302-to-1 in 2014, it… Continue Reading

GAO Report – Improper Payments by Agencies

Improper Payments: CFO Act Agencies Need to Improve Efforts to Address Compliance Issues, GAO-16-554: Published: Jun 30, 2016. Publicly Released: Jul 11, 2016. “For fiscal year 2014, 15 of the 24 Chief Financial Officers Act (CFO Act) agency inspectors general (IG) determined that their agencies did not comply with criteria in the Improper Payments Elimination… Continue Reading

ACI – Globally, Nearly 1 in 3 Consumers Victimized by Card Fraud

“Thirty percent of consumers globally have experienced card fraud in the past five years, according to new global benchmark data from ACI Worldwide and Aite Group. The global fraud study of more than 6,000 consumers across 20 countries revealed that, compared to ACI’s 2014 benchmark study, card fraud rates—unauthorized activity on three types of payment… Continue Reading

UK Policy paper – Women in Finance Charter

“On 22 March, Jayne-Anne Gadhia, CEO of Virgin Money, published her review into the representation of women in senior managerial positions in financial services. On 11 July HM Treasury announced that 72 firms have signed the Women in Finance Charter. These firms have committed to implement four key industry actions, as recommended in Jayne-Anne Gadhia’s… Continue Reading

The 2016 Long-Term Budget Outlook

“If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by CBO. Federal debt held by the public, which was equal to 39 percent of gross domestic product (GDP) at the end of fiscal year… Continue Reading

The Global Information Technology Report 2016

“Finland, Switzerland, Sweden, Israel, Singapore, the Netherlands and the United States are leading the world when it comes to generating economic impact from investments in information and communications technologies (ICT), according to the World Economic Forum’s Global Information Technology Report 2016. On average, this group of high-achieving economies at the pinnacle of the report’s Networked… Continue Reading