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Looking under the Hood of the Subprime Auto Lending Market

“Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the second quarter of 2014. Aggregate debt was relatively flat in the second quarter as housing-related debt shrank, held down by sluggish mortgage originations. But non-housing debt balances increased across the board, with especially strong gains in auto loans. Auto loan balances,Continue Reading

Senator Schumer Calls On Regulators to Make Fitness Data Private

EPIC – Senator Charles Schumer has denounced the data collection practices of “activity trackers” such as FitBit. “Activity trackers” are mobile devices that record highly personal information about the wearer and constantly analyze the wearer’s activities, including their diet, exercise, sleep, and even sexual habits. However, it is not clear whether federal privacy law protects this personal data fromContinue Reading

Where We Came From, State by State – Graphics

New York Times: “The movement of people among the states can have a bigger influence than immigration on society. We charted how Americans have moved since 1900.” See also via Scout: New Upshot Tool Provides Historical Look at Migration Migration Study Shows Illinois Residents Bolt State For Warm Climates American Migration [Interactive Map] A State-by-StateContinue Reading

Extensive interview of Edward Snowden – Wired

James Bamford, via Wired: “..Snowden will continue to haunt the US, the unpredictable impact of his actions resonating at home and around the world. The documents themselves, however, are out of his control. Snowden no longer has access to them; he says he didn’t bring them with him to Russia. Copies are now in the handsContinue Reading

Broker-Dealer Finance and Financial Stability – Speech

“In a speech in New York, Federal Reserve Bank of Boston President Eric Rosengren called for a comprehensive re-evaluation of the regulation of broker-dealers (intermediaries that effect transactions in securities), given the lessons of the financial crisis. “Broker-dealers played a dramatic role during the crisis,” said Rosengren. Given their dependence on unstable, short-term funding, “broker-dealers canContinue Reading

Macroprudential frameworks: (too) great expectations?

Macroprudential frameworks: (too) great expectations? Contribution by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, to the 25th anniversary edition of Central Banking Journal, originally published on 5 August 2014. “Macroprudential frameworks are a welcome response to the Great Financial Crisis. As long argued by the BIS, a strongerContinue Reading

Highlights from Folger Shakespeare Library’s Release of almost 80,000 Images

“Folger Shakespeare Library announced yesterday (12th August 2014), that they have released the contents of their Digital Image Collection under a Creative Commons Share-Alike (CC-BY-SA) license – basically meaning that the images are free to re-use for any purpose as long as you credit the Folger Shakespeare Library as the source and share under a similar license.Continue Reading

Project Gutenberg offers 46,483 free ebooks to download

“Project Gutenberg offers over 45,000 free ebooks: choose among free epub books, free kindle books, download them or read them online. We carry high quality ebooks: All our ebooks were previously published by bona fide publishers. We digitized and diligently proofread them with the help of thousands of volunteers. No fee or registration is required, but if you find ProjectContinue Reading

Research Finally Revealed – Chemical Ingredient in Colgate Total Linked to Cancer

Bloomberg – “The chemical triclosan has been linked to cancer-cell growth and disrupted development in animals. Regulators are reviewing whether it’s safe to put in soap, cutting boards and toys. Consumer companies are phasing it out. Minnesota voted in May to ban it in many products. At the same time, millions of Americans are putting it in their mouths everyContinue Reading

Fields Medal mathematics prize won by woman for first time in its history – Guardian

“Maryam Mirzakhani, who was born and raised in Iran, has been awarded the highest honour a mathematician can attain.‘The more I spent time on maths, the more excited I got’ The maths of Avila, Bhargava, Hairer and Mirzakhani explainedAlex Bellos: Prizes for maths that few of us can grasp“ Ian Sample, Science Editor – TheContinue Reading

Reducing the Budget Deficit: Overview of Policy Issue

Reducing the Budget Deficit: Overview of Policy Issues. Marc Labonte, Specialist in Macroeconomic Policy. August 7, 2014. “The federal budget has been in deficit (i.e., spending has exceeded revenues) since 2002, and deficits were significantly larger from 2009 to 2012 than in any other year since World War II. As a result, the federal debt held by theContinue Reading

Only 1.3 Billion Worldwide Employed Full Time for Employer – Gallup

Northern America, former Soviet Union lead in Payroll to Population: “About one in four adults worldwide — or roughly 1.3 billion people — worked full time for an employer in 2013. Gallup’s Payroll to Population (P2P) rate, which reports the percentage of the total adult population that works at least 30 hours per week forContinue Reading