|
Sherman Maisel
Sherman Joseph Maisel (July 8, 1918 – September 29, 2010) was an American economist who served as a member of the Federal Reserve Board of Governors from 1965 to 1972. Research on mortgage policy conducted by Maisel led to the expansion of the roles played by Fannie Mae and Government National Mortgage Association, Ginnie Mae in encouraging the broader availability of loans to homeowners. Maisel was born on July 8, 1918, in Buffalo, New York. After completing his undergraduate degree in economics from Harvard University in 1939, Maisel worked as a research economist working for the Federal Reserve Board in Washington, D.C. He served in the United States Army during World War II beginning in 1941, attaining the rank of Captain by the time he completed his military service in 1945. After a brief career for the United States Foreign Service, Foreign Service in Brussels, Maisel returned to Harvard, where he earned Master of Public Administration and a Master of Arts in economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Board Of Governors
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] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Book Value
In accounting, book value is the value of an asset according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization or impairment costs made against the asset. Traditionally, a company's book value is its minus intangible assets and liabilities. However, in practice, depending on the source of the calculation, book value may variably include goodwill, intangible assets, or both.Graham and Dodd's ''Security Analysis'', Fifth Edition, pp 318 – 319 The value inherent in its workforce, part of the intellectual capital of a company, is always ignored. When intangible assets and goodwill are explicitly excluded, the metric is often specified to be ''tangible book value''. In the United Kingdom, the term net asset value may refer to the book value of a company. Asset book value An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place. Moral hazard can occur under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk and has a tendency or incentive to take on too much risk from the perspective of the party with less information. One example is a principal–agent problem, where one party, called an agent, acts on behalf of another party, called the principal. If the agent has more information about his or her actions or intentions than the princ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Science Foundation
The National Science Foundation (NSF) is an independent agency of the United States government that supports fundamental research and education in all the non-medical fields of science and engineering. Its medical counterpart is the National Institutes of Health. With an annual budget of about $8.3 billion (fiscal year 2020), the NSF funds approximately 25% of all federally supported basic research conducted by the United States' colleges and universities. In some fields, such as mathematics, computer science, economics, and the social sciences, the NSF is the major source of federal backing. The NSF's director and deputy director are appointed by the President of the United States and confirmed by the United States Senate, whereas the 24 president-appointed members of the National Science Board (NSB) do not require Senate confirmation. The director and deputy director are responsible for administration, planning, budgeting and day-to-day operations of the foundation, while t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bureau Of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community". The NBER is well known for providing start and end dates for recessions in the United States. Many chairpersons of the Council of Economic Advisers were previously NBER Research Associates, including the former NBER president and Harvard Professor, Martin Feldstein. The NBER's president and CEO is James M. Poterba of MIT. History The NBER was founded in 1920. Its first staff economist, director of research, and one of its founders was American economist Wesley Clair Mitchell. He was succeeded by Malcolm C. Rorty in 1922. The Russian American economist Simon Kuznets, a student of Mitchell, was working at the NBER when the U.S. government recruited him to oversee the production of the first official estimates of national in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage-backed Security
A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed residential; another class is commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collatera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings And Loan Association
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held (often called mutual savings banks), meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lending ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of California, Berkeley
The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant university and the founding campus of the University of California system. Its fourteen colleges and schools offer over 350 degree programs and enroll some 31,800 undergraduate and 13,200 graduate students. Berkeley ranks among the world's top universities. A founding member of the Association of American Universities, Berkeley hosts many leading research institutes dedicated to science, engineering, and mathematics. The university founded and maintains close relationships with three national laboratories at Berkeley, Livermore and Los Alamos, and has played a prominent role in many scientific advances, from the Manhattan Project and the discovery of 16 chemical elements to breakthroughs in computer science and genomics. Berkeley is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recall Election
A recall election (also called a recall referendum, recall petition or representative recall) is a procedure by which, in certain polities, voters can remove an elected official from office through a referendum before that official's term of office has ended. Recalls, which are initiated when sufficient voters sign a petition, have a history dating back to the constitution in ancient Athenian democracy and feature in several current constitutions. In indirect or representative democracy, people's representatives are elected and these representatives serve for a specific period of time. However, where the facility to recall exists, if any representative comes to be perceived as not properly discharging their responsibilities, they can be called back with the written request of a specific number or proportion of voters. Even where they are legally available, recall elections are only commonly held in a small number of countries including the United States, Peru, Ecuador, and Japan. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berkeley Unified School District
The Berkeley Unified School District (BUSD) is the public school district for the city of Berkeley, California, United States. The district is managed by the Superintendent of Schools, and governed by the Berkeley Board of Education, whose members are elected by voters. Its administrative offices are located in the old West Campus main building at 2020 Bonar Street, on the corner of Bonar and University Avenue. History The Berkeley Unified School District was formed in 1936 by the merger of the city's elementary and high school districts. District administrative offices were originally (in the late 19th century) at or near the Kellogg School (above Shattuck Avenue between Center Street and Allston Way). In 1927, a two-story administration building was completed at 2325 Milvia Street (at the corner of Durant Avenue, across from the grounds of Berkeley High School). Designated a seismic hazard after the 1933 Long Beach earthquake, it was put to non-school purposes beginning in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Haas School Of Business
The Walter A. Haas School of Business, also known as Berkeley Haas, is the business school of the University of California, Berkeley, a public research university in Berkeley, California. It was the first business school at a public university in the United States and is ranked among the best business schools in the world by ''The Economist'', ''Financial Times'', ''QS World University Rankings'', '' U.S. News & World Report'', and ''Bloomberg Businessweek''. Named after Walter A. Haas, the school is housed in four buildings surrounding a central courtyard on the southeastern corner of the Berkeley campus, where both undergraduate and graduate students attend classes. Its resident startup incubator, Berkeley SkyDeck, is located west of campus in Downtown Berkeley. Notable faculty include former Chairs of the Federal Reserve and the Council of Economic Advisors, Nobel laureates in economics, the Secretary of the Treasury, the chief economist of Google, and more. History T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Federal Reserve Board Of Governors")
