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Commodity Futures Modernization Act Of 2000
The Commodity Futures Modernization Act of 2000 (CFMA) is a United States federal law that ensures that Over-the-counter (finance), over-the-counter (OTC) Derivative (finance), derivatives remained Financial regulation, unregulated. Commodity Exchange Act, The Commodity Futures Trading Commission (CFTC) had desired to have "functional regulation" of the market, but the CFMA rejected this approach. Instead, the CFTC continued to do "entity-based supervision of OTC derivatives dealers". The CFMA's handling of OTC derivatives, such as credit default swaps, has become controversial, as thesderivativesplayed a major role in the 2008 financial crisis and the Great Recession. The Commodity Futures Modernization Act (CFMA) of 2000 is a landmark piece of legislation in the United States that significantly altered the regulation of financial markets. Signed into law on December 21, 2000, the CFMA had several major impacts on the trading of derivatives, Futures contract, futures, and other f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Of Representatives
The United States House of Representatives is a chamber of the Bicameralism, bicameral United States Congress; it is the lower house, with the U.S. Senate being the upper house. Together, the House and Senate have the authority under Article One of the United States Constitution, Article One of the Constitution of the United States, U.S. Constitution to pass or defeat federal legislation, known as Bill (United States Congress), bills. Those that are also passed by the Senate are sent to President of the United States, the president for signature or veto. The House's exclusive powers include initiating all revenue bills, Impeachment in the United States, impeaching federal officers, and Contingent election, electing the president if no candidate receives a majority of votes in the United States Electoral College, Electoral College. Members of the House serve a Fixed-term election, fixed term of two years, with each seat up for election before the start of the next Congress. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President's Working Group
The President's Working Group on Financial Markets, known colloquially as the Plunge Protection Team, or "(PPT)" was created by Executive Order 12631,, which appears and purports to be a copy of the original: signed on March 18, 1988, by United States President Ronald Reagan. As established by the executive order, the Working Group has three purposes and functions: "(a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider: :(1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and :(2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning), that are appropriate to carry out these rec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arthur Levitt
Arthur Levitt Jr. (born February 3, 1931) is the former chairman of the United States Securities and Exchange Commission (SEC). He served from 1993 to 2001 as the twenty-fifth and longest-serving chairman of the commission. Widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules. Since May 2001 he has been employed as a senior adviser at the Carlyle Group. Levitt previously served as a policy advisor to Goldman Sachs and is a Director of Bloomberg LP, parent of Bloomberg News. Early life and career Levitt grew up in a Jewish family in Brooklyn. Levitt's father, Arthur Levitt Sr., served as New York State Comptroller for 24 years and was sole trustee of the largest pension fund in America at the time. Levitt attended Brant Lake Camp, a summer camp for boys in the Adirondacks. He attended and graduated from Poly Prep Country Day School in Brooklyn in 1948. He graduated Phi Beta Kappa from Williams College ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms." Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates LLC. First nominated to the Federal Reserve by President Ronald Reagan in August 1987, Greenspan was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position, behind only William McChesney Martin. President George W. Bush appointed Ben Bernanke as his successor. Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts. Many have argued that the "easy-mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments. The department oversees the Bureau of Engraving and Printing and the United States Mint, U.S. Mint, two federal agencies responsible for printing all paper currency and minting United States coinage, coins. The treasury executes Currency in circulation, currency circulation in the domestic fiscal system, Tax collector, collects all taxation in the United States, federal taxes through the Internal Revenue Service, manages United States Treasury security, U.S. government debt instruments, Bank regulation#Licensing and supervision, licenses and supervises banks and Savings and loan association, thrift institutions, and advises the Federal government of the United States#Legislative branch, legislative and Federal government of the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawrence Summers
Lawrence Henry Summers (born November 30, 1954) is an American economist who served as United States Secretary of the Treasury from 1999 to 2001 and as the director of the National Economic Council from 2009 to 2010. He also served as president of Harvard University from 2001 to 2006,"Historical Facts" Harvard University, retrieved March 31, 2017 where he is the Charles W. Eliot University Professor and director of the Mossavar-Rahmani Center for Business and Government at .Summers, Lawrence H. and John A. Haig [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PWG Report
{{disambiguation ...
PWG may refer to: *Pro Wrestling Guerrilla, an American professional wrestling promotion based in Southern California *Communist Party of India (Marxist-Leninist) People's War, usually called ''People's War Group'' (PWG) *The Printer Working Group * PWG Raster, an image format created by the Printer Working Group *The Working Group on Financial Markets, also known as the ''President's Working Group on Financial Markets'' *Proto-West Germanic The West Germanic languages constitute the largest of the three branches of the Germanic family of languages (the others being the North Germanic and the extinct East Germanic languages). The West Germanic branch is classically subdivided ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Working Group On Financial Markets
The President's Working Group on Financial Markets, known colloquially as the Plunge Protection Team, or "(PPT)" was created by Executive order (United States), Executive Order 12631,, which appears and purports to be a copy of the original: signed on March 18, 1988, by United States President of the United States, President Ronald Reagan. As established by the executive order, the Working Group has three purposes and functions: "(a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider: :(1) the major issues raised by the numerous studies on the events in the financial markets surrounding Black Monday (1987), October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and :(2) the actions, including governmental actions under existing laws and regulations (such as polic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party, he previously served as the attorney general of Arkansas from 1977 to 1979 and as the governor of Arkansas from 1979 to 1981, and again from 1983 to 1992. Clinton, whose policies reflected a centrist "Third Way" political philosophy, became known as a New Democrat. Born and raised in Arkansas, Clinton graduated from Georgetown University in 1968, and later from Yale Law School, where he met his future wife, Hillary Rodham. After graduating from law school, Clinton returned to Arkansas and won election as state attorney general, followed by two non-consecutive tenures as Arkansas governor. As governor, he overhauled the state's education system and served as chairman of the National Governors Association. Clinton was elected president in the 1992 election, defeating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Swaps And Derivatives Association
The International Swaps and Derivatives Association (ISDA ) is a trade organization of participants in the market for derivative (finance)#Over-the-counter derivatives, over-the-counter derivatives. It is headquartered in New York City, and has created a standardized contract (the ISDA Master Agreement) to enter into Derivative (finance), derivatives transactions. In addition to legal and policy activities, ISDA manages FpML (Financial products Markup Language), an XML message standardization, standard for the Derivative (finance)#OTC and exchange-traded, OTC Derivatives industry. ISDA has more than 925 members in 75 countries; its membership consists of derivatives dealers, service providers and end users. History ISDA was initially created in 1985 as the International Swap Dealers Associations, Inc. and subsequently changed its name switching "Swap Dealers" to "Swaps and Derivatives". This change was made to focus more attention on their efforts to improve the more broad der ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
