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Lou Ranieri
Lewis S. Ranieri (; born 1947) is a former bond trader, founding partner and current chairman of Ranieri Partners,http://www.ranieripartners.com/ranieri-senior-executive-team-1/lewis-s-ranieri a real estate firm. He is considered the "father" of mortgage-backed securities, for his pioneering role in their emergence in the 1970s, during his tenure in Salomon Brothers, where he reached the position of Vice Chairman.''BusinessWeek'', 29 November 2004Lewis S. Ranieri: Your Mortgage Was His Bond/ref>''The Guardian'', 26 January 2009Twenty-five people at the heart of the meltdown .../ref>''TIME''25 People to Blame for the Financial Crisis/ref> Although he was named by ''BusinessWeek'' in 2004 as "one of the greatest innovators of the past 75 years", he was later strongly criticized for his role in the subprime mortgage crisis of 200709. Early life Lewis S. Ranieri was born in Brooklyn, New York, in 1947. Ranieri had sought to be an Italian chef before finding that his asthma prevente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brooklyn, New York
Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, behind New York County (Manhattan). Brooklyn is also New York City's most populous borough,2010 Gazetteer for New York State . Retrieved September 18, 2016. with 2,736,074 residents in 2020. Named after the Dutch village of Breukelen, Brooklyn is located on the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Housing Bubble
The 2000s United States housing bubble was a real-estate bubble affecting over half of the U.S. states. It was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the Great Recession in the United States. Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, Henry Paulson, the U.S. Secretary of the Treasury, called the bursting housing bubble "the most significant risk to our economy". Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but mortgage markets, home buil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform Act Of 1986
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent. The act also expanded the earned income tax credit, the standard deduction, and the personal exemption, removing approximately six million lower-income Americans from the tax base. Offsetting these cuts, the act increased the alternative minimum tax and eliminated many tax deductions, including deductions for rental housing, individual retirement accounts, and depreciation. Although the tax reform was projected to be revenue-neutral, it was popularly referred to as the second round of Reagan tax cuts (following the Economic Recovery Tax Act of 1981). The bill passed with majority support in both the Hous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
REMIC
is a Japanese animation studio notable for producing the anime is Traditional animation, hand-drawn and computer animation, computer-generated animation originating from Japan. Outside of Japan and in English, ''anime'' refers specifically to animation produced in Japan. However, in Japan and in Japane ... series '' Renkin 3-kyū Magical? Pokān'' and '' Dōjin Work''. Produced series *'' Renkin 3-kyū Magical? Pokān'' **Series run: April 4, 2006 — June 20, 2006 **Episodes: 12 x 24 minutes *'' Dōjin Work'' **Series run: July 4, 2007 — September 19, 2007 **Episodes: 12 x 24 minutes *'' R-15'' **Episode 9 only External links * Japanese animation studios {{japan-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationally Recognized Statistical Rating Organization
A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purposes. History The use of the term NRSRO began in 1975 when the SEC promulgated rules regarding bank and broker-dealer net capital requirements (). Prior to 1975, the SEC did not adopt specific standards for determining which credit rating agencies were "nationally recognized", and instead addressed the question on a case-by-case basis. NRSRO recognition was granted by the SEC through a "No Action Letter" sent by the SEC staff. Under this approach, if a CRA (or investment bank or broker-dealer) were interested in using the ratings from a particular CRA for regulatory purposes, the SEC staff would research the market to determine whether ratings from that particular CRA were widely used and considered "reliable and credible." If the SEC staff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blue Sky Laws
A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms. Each state's blue sky law is administered by its appropriate regulatory agency, and most also provide private causes of action for private investors who have been injured by securities fraud. The first blue sky law was enacted in Kansas in 1911 at the urging of its banking commissioner, Joseph Norman Dolley, and served as a model for similar statutes in other states. Between 1911 and 1933, 47 states adopted blue-sky statutes (Nevada was the lone holdout). Today, the blue sky laws of 40 of the 50 states are patterned after the Uniform Securities Act of 1956. Historically, the federal securities laws and the state blue sky laws complemented and often duplicated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secondary Mortgage Market Enhancement Act
The Secondary Mortgage Market Enhancement Act of 1984 (SMMEA) was an Act of Congress intended to improve the marketability of private label mortgage-backed security passthroughs. It is mentioned as a significant contributing factor in the subprime mortgage crisis. It declared nationally recognized statistical rating organization (NRSRO) AA- rated mortgage-backed securities to be legal investments equivalent to Treasury securities and other federal government bonds for federally chartered banks (such as federal savings banks, federal savings associations, etc.), state-chartered financial institutions (such as depository banks and insurance companies) unless overridden by state law before October 1991 (of which 21 states did so),The 21 states that utilized the exemption provisions were Alaska, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Michigan, Missouri, Nebraska, New Hampshire, New York, North Carolina, Ohio, South Dakota, Utah, Virgini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Boston
: ''For the company after its acquisition by Credit Suisse, see Credit Suisse First Boston (known as CSFB and CS First Boston)'' The First Boston Corporation was a New York-based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1988. After the acquisition, it operated as an independent investment bank known as CS First Boston until 2006, when the company was fully integrated into Credit Suisse. In 2022, Credit Suisse revived the "First Boston" brand as part of an effort to spin out the business. History Founding The First Boston Corporation was created in 1932 as the investment banking arm of the First National Bank of Boston. It became an independent firm after passage of the Glass–Steagall Act, which required commercial banks to divest securities businesses in the wake of the 1929 stock market crash. First National Bank of Boston continued as a commercial bank, ultimately becoming part of Bank of America. The young First Boston investment b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laurence D
Laurence is an English and French given name (usually female in French and usually male in English). The English masculine name is a variant of Lawrence and it originates from a French form of the Latin ''Laurentius'', a name meaning "man from Laurentum". The French feminine name Laurence is a form of the masculine '' Laurent'', which is derived from the Latin name. Given name * Laurence Broze (born 1960), Belgian applied mathematician, statistician, and economist * Laurence des Cars, French curator and art historian * Laurence Neil Creme, known professionally as Lol Creme, British musician * Laurence Ekperigin (born 1988), British-American basketball player in the Israeli National League * Laurence Equilbey, French conductor * Laurence Fishburne, American actor * Laurence Fournier Beaudry, Canadian ice dancer * Laurence Fox, British actor *Laurence Gayte (born 1965), French politician * Laurence S. Geller, British-born, US-based real estate investor. * Laurence Ginnell, Iris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is a publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.Tysons Corner CDP, Virginia ". . Retrieved on May 7, 2009. The FHLMC was created in 1970 to expand the secondary market for in the US. Along with the Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Volcker
Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely credited with having ended the high levels of inflation seen in the United States throughout the 1970s and early 1980s. He previously served as the president of the Federal Reserve Bank of New York from 1975 to 1979. President Jimmy Carter nominated him to succeed G. William Miller as Fed chairman and President Ronald Reagan renominated him once. Volcker did not seek a third term at the Fed and was succeeded by Alan Greenspan. After his retirement from the Board, he chaired the Economic Recovery Advisory Board under President Barack Obama from 2009 to 2011 during the subprime mortgage crisis. Early life and education Volcker was born in Cape May, New Jersey, the son of Alma Louise (née Klippel, 1892–1990) and Paul Adolph Volcker (1889–1960).Treaster (200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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