Download or read book Government Interventions in Response to Financial Turmoil written by Baird Webel and published by DIANE Publishing. This book was released on 2011 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Contents: (1) Intro.: Estimating the Costs of Gov¿t. Interventions; (2) Troubled Asset Relief Program (TARP): Capital Purchase Program and Capital Assistance Program; Home Affordable Modification Program; U.S. Automakers; (3) Federal Reserve: Term Auction Facility; Term Securities Lending Facility; Primary Dealer Credit Facility; Term Asset-Backed Securities Loan Facility; Central Bank Liquidity Swaps; Bear Stearns; (4) FDIC: Temporary Liquidity Guarantee Program; (5) U.S. Dept. of the Treasury: Money Market Mutual Fund Guarantee Program; (6) Joint Interventions: Public Private Investment Program: Legacy Loan Program; Legacy Securities Program; AIG; Fannie Mae and Freddie Mac; Citigroup; Bank of America. Charts and tables.

Download or read book Government Interventions in Economic Emergencies written by Pablo Sastre and published by Nova Science Pub Incorporated. This book was released on 2010 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no precise definition of "financial crisis", but a common view is that disruptions in financial markets rise to the level of a crisis when the flow of credit to households and businesses is constrained and the real economy of goods and services is adversely affected. Since mid-2007, governments have tried with limited success to keep downturn in U.S. sub-prime housing from developing into such a crisis. In response to the ongoing financial turmoil, the federal government intervened financially with private corporations on a large scale that resulted in the government receiving significant debt and equity considerations three times since the beginning of 2008. On October 3rd 2008, the Troubled Assets Relief Program (TARP) was signed into law, giving Treasury the option of purchasing or insuring up to $700 billion of assets from financial firms. This book looks at the global financial crisis here and abroad and the government interventions to stave off economic emergencies. This book consists of public domain documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Costs of Government Interventions in Response to the Financial Crisis written by Congressional Research Congressional Research Service and published by CreateSpace. This book was released on 2014-10-31 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In August 2007, asset-backed securities (ABS), particularly those backed by subprime mortgages, suddenly became illiquid and fell sharply in value as an unprecedented housing boom turned into a housing bust. Losses on the many ABS held by financial firms depleted their capital. Uncertainty about future losses on illiquid and complex assets led to firms having reduced access to private liquidity, sometimes catastrophically. In September 2008, the financial crisis reached panic proportions, with some large financial firms failing or having the government step in to prevent their failure.

Download or read book Government Intervention in Response to the Subprime Financial Crisis written by Bastian Breitenfellner and published by . This book was released on 2010 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global financial crisis represents a major economic challenge. In order to prevent such market failure, it is vital to understand what caused the crisis and what are the lessons to be learned. Given the tremendous bailout packages worldwide, we discuss the role of governments as lenders of last resort. In our view, it is important not to suspend the market mechanism of bankruptcy via granting rescue packages. Only those institutions which are illiquid but solvent should be rescued, and this should occur at a significant cost for the respective institution. We provide a formal illustration of a rescue mechanism, which allows to distinguish between illiquid but solvent and insolvent banks. Furthermore, we argue that stricter regulation cannot be the sole consequence of the crisis. There appears to be a need for improved risk awareness, more sophisticated risk management and an alignment of interest among the participants in the market for credit risk.

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.

Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Download or read book The Real Effects of Financial Sector Interventions During Crises written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2011-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is disproportionately positively affected by bank recapitalization policies, and that this effect is quantitatively important and robust to controlling for other financial sector support policies. We also find that fiscal policy disproportionately boosted growth of firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit market frictions in influencing real economic activity.

Download or read book The Cost of Government Interventions Past and Present written by and published by . This book was released on 2008 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to ongoing financial turmoil that began in the subprime mortgagebacked securities market, the federal government has intervened with private corporations on a large scale and in an ad hoc manner three times from the beginning of 2008 through September 19, 2008. The firms affected were Bear Stearns, Fannie Mae and Freddie Mac, and AIG. Another large investment bank, Lehman Brothers, sought government intervention, but none was forthcoming; subsequently, the firm sought bankruptcy protection. These interventions have prompted questions regarding the taxpayer costs and the sources of funding. The sources of funding are relatively straightforward, the Federal Reserve (Fed) and the U.S. Treasury. The costs, however, are difficult to quantify at this stage. In the most recent interventions (Fannie Mae and Freddie Mac, and AIG), all the lending that is possible under the interventions has yet to occur. Also, in all the current cases, the government has received significant debt and equity considerations from the private firms. At this point, Fannie Mae, Freddie Mac, and AIG are essentially owned by the federal government. Depending on the proceeds from the debt and equity considerations, the federal government may very well end up seeing a positive fiscal contribution from the recent interventions, as was the case in some of the past interventions summarized in the tables at the end of this report. The government may also suffer significant losses, as has also occurred in the past. This report will be updated as warranted by legislative and market events.

Download or read book Economic and Political Change after Crisis written by Stephen H. Balch and published by Routledge. This book was released on 2016-10-04 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Government’s accumulated national debt and unfunded liabilities in social security and Medicare could be pushing the country towards a fiscal crisis. How could such a crisis be avoided? If a crisis does strike, how might it be dealt with? What might be the long term ramifications of experiencing a crisis? The contributors to Economic and Political Change After Crisis explore all of these questions and more. The book begins by exploring how past crises have permanently increased the size and scope of government and how well the rule of law has been maintained during these crises. Chapters explore how these relationships might change in a future crisis and examine how the structure of the U.S. government contributes to a tendency towards fiscal imbalance. In a provocative contribution, the authors predict a U.S. government default on its debt. The book concludes by considering how a fiscal crisis might precipitate or interact with other forms of crises. Social scientists from a variety of disciplines, public policy makers, and concerned members of the general public would all benefit from the contributions contained in this book. If the U.S. is going to avoid a future crisis, or do as well as possible if a crisis occurs, the arguments in these chapters should be given serious consideration.

Download or read book Saving the Market from Itself written by Christopher Mitchell (Political scientist) and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007?9 financial crisis threatened economic disaster on a scale not seen since the Great Depression, but rapid state action prevented the widely feared devastation. The German response was considerably more generous to banks than the American or British bailouts. Drawing on interviews and primary sources in government, private firms, and media, Mitchell explains how the structure of national financial systems and interbank relationships produced extensive private rescues and pressure on different states. Mitchell explores the different responses and results in Germany, the UK and the US using a combination of detailed case study analyses of the three countries' responses to the crisis and a quantitative analysis of patterns of state responses to financial crises. This book will be essential reading for scholars and advanced students of political economy, comparative politics, economic sociology, economics, and public policy.

Download or read book Confronting Policy Challenges of the Great Recession written by Eskander Alvi and published by W.E. Upjohn Institute. This book was released on 2017-11-20 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a notable group of macroeconomists who describe the unprecedented events and often extraordinary policies put in place to limit the economic damage suffered during the Great Recession and then to put the economy back on track. Contributers include Barry Eichengreen; Gary Burtless; Donald Kohn; Laurence Ball, J. Bradford DeLong, and Lawrence H. Summers; and Kathryn M.E. Dominguez.

Download or read book The Global Financial Crisis and its Budget Impacts in OECD Nations written by John Wanna and published by Edward Elgar Publishing. This book was released on 2015-09-25 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 2007–09 constituted the biggest shock to the economies of the OECD nations since the Second World War and caused most of their governments to move into intense crisis mode. They made significant adjustments to their fiscal policy regimes, including massive interventions to stabilize markets and economies. But how they reacted to the crisis, and what measures they took to deal with it, still underpin their economic and budgetary positions. This singular shock provides the editors and authors of this book with an intriguing opportunity to examine how different OECD budgetary systems performed. Chapters cover the EU, North America and Asia, assessing how governments responded to the challenge and how their budget systems evolved in the aftermath.

Download or read book Government Interventions During the Economic and Financial Crisis 2008 09 written by Friederike Elisabeth Müller and published by . This book was released on 2013 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book No Way Out written by Vincent R. Reinhart and published by AEI Press. This book was released on 2013-02-21 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: In No Way Out?, Vincent R. Reinhart and his coauthors provide a concise narrative of the financial crisis, the mismatched market incentives and government policies that precipitated it, and the likelihood of its recurrence. This volume is an indispensable resource for policymakers and financial leaders and a timely reminder that until we understand the history of government intervention in the marketplace, we are doomed to repeat failed policies.