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Kern Amendment
Sponsored by Sen. John W. Kern (D) of Indiana, the Kern Amendment amended the Clayton Anti-Trust Act of 1914 by forbidding a Director, officer, or employee of any Reserve Bank having resources in excess of $5,000,000 acting in any similar capacity in another bank; however, it allowed an officer of a FED member bank, with the consent of the Federal Reserve Board The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mon ..., to hold a similar post in two other banks provided they were not in substantial competition with the member bank. In essence, the amendment lessened the prohibition against interlocking directorates dictated by the Clayton Act originally scheduled to go into effect on Oct. 15th, 1916. 1914 in law Legal history of the United States {{US-law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John W
John is a common English name and surname: * John (given name) * John (surname) John may also refer to: New Testament Works * Gospel of John, a title often shortened to John * First Epistle of John, often shortened to 1 John * Second Epistle of John, often shortened to 2 John * Third Epistle of John, often shortened to 3 John People * John the Baptist (died c. AD 30), regarded as a prophet and the forerunner of Jesus Christ * John the Apostle (lived c. AD 30), one of the twelve apostles of Jesus * John the Evangelist, assigned author of the Fourth Gospel, once identified with the Apostle * John of Patmos, also known as John the Divine or John the Revelator, the author of the Book of Revelation, once identified with the Apostle * John the Presbyter, a figure either identified with or distinguished from the Apostle, the Evangelist and John of Patmos Other people with the given name Religious figures * John, father of Andrew the Apostle and Saint Peter * Pope Jo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th state on December 11, 1816. It is bordered by Lake Michigan to the northwest, Michigan to the north, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west. Various indigenous peoples inhabited what would become Indiana for thousands of years, some of whom the U.S. government expelled between 1800 and 1836. Indiana received its name because the state was largely possessed by native tribes even after it was granted statehood. Since then, settlement patterns in Indiana have reflected regional cultural segmentation present in the Eastern United States; the state's northernmost tier was settled primarily by people from New England and New York, Central Indiana by migrants fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clayton Anti-Trust Act
The Clayton Antitrust Act of 1914 (, codified at , ), is a part of United States antitrust law with the goal of adding further substance to the U.S. antitrust law regime; the Clayton Act seeks to prevent anticompetitive practices in their incipiency. That regime started with the Sherman Antitrust Act of 1890, the first Federal law outlawing practices that were harmful to consumers (monopolies, cartels, and trusts). The Clayton Act specified particular prohibited conduct, the three-level enforcement scheme, the exemptions, and the remedial measures. Like the Sherman Act, much of the substance of the Clayton Act has been developed and animated by the U.S. courts, particularly the Supreme Court. Background Since the Sherman Antitrust Act of 1890, courts in the United States had interpreted the law on cartels as applying against trade unions. This had created a problem for workers, who needed to organize to balance the equal bargaining power against their employers. The Sherman Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Board
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.See Statutory description By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country". As stipulated in the Banking Act of 1935, the Chair and Vice Chair of the Board are two of seven members of the Board of Governors who are appointed by the President from among the sitting governors of the Federal Reserve Banks. The terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the preside ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1914 In Law
This year saw the beginning of what became known as World War I, after Archduke Franz Ferdinand of Austria, heir to the Austrian throne was assassinated by Serbian nationalist Gavrilo Princip. It also saw the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with the St. Petersburg–Tampa Airboat Line. Events January * January 1 – The St. Petersburg–Tampa Airboat Line in the United States starts services between St. Petersburg and Tampa, Florida, becoming the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with Tony Jannus (the first federally-licensed pilot) conveying passengers in a Benoist XIV flying boat. Abram C. Pheil, mayor of St. Petersburg, is the first airline passenger, and over 3,000 people witness the first departure. * January 11 – The Sakurajima volcano in Japan begins to erupt, becoming effusive after a very large earthqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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