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Pecora Commission
The Pecora Investigation was an inquiry begun on March 4, 1932, by the United States Senate Committee on Banking and Currency to investigate the causes of the Wall Street Crash of 1929. The name refers to the fourth and final chief counsel for the investigation, Ferdinand Pecora. His exposure of abusive practices in the financial industry galvanized broad public support for stricter regulations. As a result, the U.S. Congress passed the Glass–Steagall Banking Act of 1933, the Securities Act of 1933, and the Securities Exchange Act of 1934. History Following the 1929 Wall Street Crash, the U.S. economy had gone into a depression, and a large number of banks failed. The Pecora Investigation sought to uncover the causes of the financial collapse. As chief counsel, Ferdinand Pecora personally examined many high-profile witnesses, who included some of the nation's most influential bankers and stockbrokers. Among these witnesses were Richard Whitney, president of the New York Stoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republican Party (United States)
The Republican Party, also referred to as the GOP ("Grand Old Party"), is one of the two major contemporary political parties in the United States. The GOP was founded in 1854 by anti-slavery activists who opposed the Kansas–Nebraska Act, which allowed for the potential expansion of chattel slavery into the western territories. Since Ronald Reagan's presidency in the 1980s, conservatism has been the dominant ideology of the GOP. It has been the main political rival of the Democratic Party since the mid-1850s. The Republican Party's intellectual predecessor is considered to be Northern members of the Whig Party, with Republican presidents Abraham Lincoln, Rutherford B. Hayes, Chester A. Arthur, and Benjamin Harrison all being Whigs before switching to the party, from which they were elected. The collapse of the Whigs, which had previously been one of the two major parties in the country, strengthened the party's electoral success. Upon its founding, it supported c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Deal
The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939. Major federal programs agencies included the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), the Civil Works Administration (CWA), the Farm Security Administration (FSA), the National Industrial Recovery Act of 1933 (NIRA) and the Social Security Administration (SSA). They provided support for farmers, the unemployed, youth, and the elderly. The New Deal included new constraints and safeguards on the banking industry and efforts to re-inflate the economy after prices had fallen sharply. New Deal programs included both laws passed by Congress as well as presidential executive orders during the first term of the presidency of Franklin D. Roosevelt. The programs focused on what historians refer to as the "3 R's": relief for the unemployed and for the poor, recovery of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issues of security in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. History The term "underwriting" derives from the Lloyd's of London insurance market. Financial backers (or risk takers), who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose. Securities underwriting In the f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party. An "interest" is a commitment, obligation, duty or goal associated with a particular social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other. Such a matter is of importance because under such circumstances the decision-making process can be disrupted or compromised in a manner that affects the integrity or the reliability of the outcomes. Typically, a conflict of interest arises when an individual finds themselves occupying two soc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Duncan U
Duncan may refer to: People * Duncan (given name), various people * Duncan (surname), various people * Clan Duncan * Justice Duncan (other) Places * Duncan Creek (other) * Duncan River (other) * Duncan Lake (other), including Lake Duncan Australia *Duncan, South Australia, a locality in the Kangaroo Island Council *Hundred of Duncan, a cadastral unit on Kangaroo Island in South Australia Bahamas *Duncan Town, Ragged Island, Bahamas ** Duncan Town Airport Canada * Duncan, British Columbia, on Vancouver Island * Duncan Dam, British Columbia * Duncan City, Central Kootenay, British Columbia; see List of ghost towns in British Columbia United States * Duncan Township (other) * Duncan, Arizona * Duncan, Indiana * Duncan, Iowa * Duncan, Kentucky (other) * Duncan City, Cheboygan, Michigan * Duncan, Mississippi * Duncan, Missouri * Duncan, Nebraska * Duncan, North Carolina * Duncan, Oklahoma * Duncan, South Carolina * F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
