Accurate, Focused Research on Law, Technology and Knowledge Discovery With Daily Postings Since 2002
Christy Romero, Special Inspector General: “Congress created SIGTARP to combat white collar crime committed by those who view Troubled Asset Relief Program (“TARP”) bailout funds as an opportunity for fraud and other illicit activity. Congress authorized SIGTARP to investigate, search, seize, and arrest. SIGTARP investigations have already resulted in 51 defendants sentenced to prison for …
Deposit Rate Advantages at the Largest Banks, Stefan Jacewitz – Federal Deposit Insurance Corporation; Jonathan Pogach – Federal Deposit Insurance Corporation, May 31, 2013 “We estimate differences in funding costs between the largest banks and the rest of the industry. Using deposit rates offered at the branch level, we eliminate many non-risk related differences between banks. We document significant and …
The Policy Elasticity, Nathaniel Hendren, Harvard University, June 2013 “This paper provides a generic framework for evaluating the welfare impact of government policy changes towards taxes, transfers, and publicly provided goods. The results show that the behavioral response required for welfare measurement is the causal impact of each agent’s response to the policy on the government’s budget. A …
Toward a sustainable energy future for all: directions for the World Bank Groups energy sector “As global energy markets evolve rapidly, producing and maintaining a reliable power supply for many countries in the developing world remains a significant issue. The World Bank Group will approach this energy crisis in partnership with the United Nations Sustainable …
Fair Game – Trying to Pierce a Wall Street Fog, By Gretchen Morgenson “Back in 2009, the Justice Department said it was investigating the large Wall Street banks for possible collusion in the huge and opaque credit default swaps market. The question was whether the big financial institutions had worked to keep transactions in these …
“Improving financial literacy requires more than simply providing consumers with more information. Being able to manage one’s financial life and make the financial decisions that will serve one’s life goals requires a combination of knowledge, skills, and action. For that reason, we’re pursuing a strategy that focuses on identifying how, where, when, and through whom …
Capital is Back:Wealth-Income Ratios in Rich Countries 1700-2010, Thomas Piketty, Paris School of Economics; Gabriel Zucman, Paris School of Economics, July 4, 2013. “How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970-2010 national balance sheets recently compiled in the top eight developed economies. For the U.S., U.K., Germany, and France, we are able …
Financial Company Bankruptcies – Need to Further Consider Proposals’ Impact on Systemic Risk, GAO-13-622, Jul 18, 2013 Foreign Affairs Management – State Department Has Strengthened Foreign Service Promotion Process Internal Controls, but Documentation Gaps Remain, GAO-13-654, Jul 18, 2013 Medicaid Demonstration Waivers, Approval Process Raises Cost Concerns and Lacks Transparency, GAO-13-384, Jun 25, 2013 SEC Conflict …
Via FindLaw – “The city of Detroit’s recent bankruptcy filing made it the the largest U.S. city in history to seek Chapter 9 protection. The filing (attached below) came in the face of $18.5 billion in debt to creditors and unions. Detroit has seemingly tapped out its tax base, with no further ability to tax …
Stress Tests to Promote Financial Stability: Assessing Progress and Looking to the Future – Rick Bookstaber, Jill Cetina, Greg Feldberg, Mark Flood, Paul Glasserman, July 18, 2018 “Stress testing, which has its roots in risk management, should be adapted to support financial stability monitoring and to incorporate the interconnections and dynamics of the financial system. Since the …
Shadow Banking – Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky, July 18, 2013 “The rapid growth of the market-based financial system since the mid-1980s has changed the nature of financial intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial crisis. Shadow banks are financial intermediaries that …
“Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. I will discuss current economic conditions and the outlook and then turn to monetary policy. I’ll finish with a short summary of our ongoing work on regulatory reform. The Economic Outlook – The …
