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Author: Sarah L. Quinn
Publisher: Princeton University Press
ISBN: 0691185611
Category : Political Science
Languages : en
Pages :
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How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Author: Sarah L. Quinn
Publisher: Princeton University Press
ISBN: 0691185611
Category : Political Science
Languages : en
Pages :
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Book Description
How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Author: Destin Jenkins
Publisher: University of Chicago Press
ISBN: 022672168X
Category : History
Languages : en
Pages : 318
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Book Description
Indebtedness, like inequality, has become a ubiquitous condition in the United States. Yet few have probed American cities’ dependence on municipal debt or how the terms of municipal finance structure racial privileges, entrench spatial neglect, elide democratic input, and distribute wealth and power. In this passionate and deeply researched book, Destin Jenkins shows in vivid detail how, beyond the borrowing decisions of American cities and beneath their quotidian infrastructure, there lurks a world of politics and finance that is rarely seen, let alone understood. Focusing on San Francisco, The Bonds of Inequality offers a singular view of the postwar city, one where the dynamics that drove its creation encompassed not only local politicians but also banks, credit rating firms, insurance companies, and the national municipal bond market. Moving between the local and the national, The Bonds of Inequality uncovers how racial inequalities in San Francisco were intrinsically tied to municipal finance arrangements and how these arrangements were central in determining the distribution of resources in the city. By homing in on financing and its imperatives, Jenkins boldly rewrites the history of modern American cities, revealing the hidden strings that bind debt and power, race and inequity, democracy and capitalism.
Author: David K. Thomson
Publisher: UNC Press Books
ISBN: 1469666626
Category : History
Languages : en
Pages : 289
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Book Description
How does one package and sell confidence in the stability of a nation riven by civil strife? This was the question that loomed before the Philadelphia financial house of Jay Cooke & Company,&8239;entrusted&8239;by the US government with an unprecedented sale of bonds to finance the Union war effort in the early days of the American Civil War.&8239;How the government and its agents marketed these bonds revealed a version of the war the public was willing to buy and buy into, based not just in the full faith and credit of the United States but also in the success of its armies and its long-term vision for open markets. From Maine to California, and in foreign halls of power and economic influence,&8239;thousands of agents were deployed to&8239;sell&8239;a clear message: Union victory was unleashing the American economy itself. This fascinating work of&8239;financial and political history&8239;during&8239;the Civil War&8239;era&8239;shows&8239;how the marketing and sale of bonds crossed the Atlantic to Europe and beyond, helping ensure foreign countries' vested interest in the Union's success. Indeed, David K. Thomson demonstrates how Europe, and ultimately all corners of the globe, grew deeply interdependent on American finance during, and in the immediate aftermath of, the American Civil War.&8239;
Author: United States. Department of the Treasury
Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 20
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Author:
Publisher:
ISBN:
Category : Savings bonds
Languages : en
Pages : 2
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Author: Mark Fainaru-Wada
Publisher: Penguin
ISBN: 110121676X
Category : Sports & Recreation
Languages : en
Pages : 546
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In the summer of 1998 two of baseball leading sluggers, Mark McGwire and Sammy Sosa, embarked on a race to break Babe Ruth’s single season home run record. The nation was transfixed as Sosa went on to hit 66 home runs, and McGwire 70. Three years later, San Francisco Giants All-Star Barry Bonds surpassed McGwire by 3 home runs in the midst of what was perhaps the greatest offensive display in baseball history. Over the next three seasons, as Bonds regularly launched mammoth shots into the San Francisco Bay, baseball players across the country were hitting home runs at unprecedented rates. For years there had been rumors that perhaps some of these players owed their success to steroids. But crowd pleasing homers were big business, and sportswriters, fans, and officials alike simply turned a blind eye. Then, in December of 2004, after more than a year of investigation, San Francisco Chronicle reporters Mark Fainaru-Wada and Lance Williams broke the story that in a federal investigation of a nutritional supplement company called BALCO, Yankees slugger Jason Giambi had admitted taking steroids. Barry Bonds was also implicated. Immediately the issue of steroids became front page news. The revelations led to Congressional hearings on baseball’s drug problems and continued to drive the effort to purge the U.S. Olympic movement of drug cheats. Now Fainaru-Wada and Williams expose for the first time the secrets of the BALCO investigation that has turned the sports world upside down. Game of Shadows: Barry Bonds, BALCO, and the Steroid Scandal That Rocked Professional by award-winning investigative journalists Mark Fainaru-Wada and Lance Williams, is a riveting narrative about the biggest doping scandal in the history of sports, and how baseball’s home run king, Barry Bonds of the San Francisco Giants, came to use steroids. Drawing on more than two years of reporting, including interviews with hundreds of people, and exclusive access to secret grand jury testimony, confidential documents, audio recordings, and more, the authors provide, for the first time, a definitive account of the shocking steroids scandal that made headlines across the country. The book traces the career of Victor Conte, founder of the BALCO laboratory, an egomaniacal former rock musician and self-proclaimed nutritionist, who set out to corrupt sports by providing athletes with “designer” steroids that would be undetectable on “state-of-the-art” doping tests. Conte gave the undetectable drugs to 28 of the world’s greatest athletes—Olympians, NFL players and baseball stars, Bonds chief among them. A separate narrative thread details the steroids use of Bonds, an immensely talented, moody player who turned to performance-enhancing drugs after Mark McGwire of the St. Louis Cardinals set a new home run record in 1998. Through his personal trainer, Bonds gained access to BALCO drugs. All of the great athletes who visited BALCO benefited tremendously—Bonds broke McGwire’s record—but many had their careers disrupted after federal investigators raided BALCO and indicted Conte. The authors trace the course of the probe, and the baffling decision of federal prosecutors to protect the elite athletes who were involved. Highlights of Game of Shadows include: Barry Bonds A look at how Bonds was driven to use performance-enhancing drugs in part by jealousy over Mark McGwire’s record-breaking 1998 season. It was shortly thereafter that Bonds—who had never used anything more performance enhancing than a protein shake from the health food store—first began using steroids. How Bonds’s weight trainer, steroid dealer Greg Anderson, arranged to meet Victor Conte before the 2001 baseball season with...
Author: Terry Cox
Publisher: Terry Cox
ISBN: 0974648507
Category : Bonds
Languages : en
Pages : 573
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Author: Dan Lainer-Vos
Publisher: John Wiley & Sons
ISBN: 0745664415
Category : Social Science
Languages : en
Pages : 205
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Fundraising may not seem like an obvious lens through which to examine the process of nation-building, but in this highly original book Lainer-Vos shows that fundraising mechanisms - ranging from complex transnational gift-giving systems to sophisticated national bonds - are organizational tools that can be used to bind dispersed groups to the nation. Sinews of the Nation treats nation-building as a practical organizational accomplishment and examines how the Irish republicans and the Zionist movement secured financial support in the United States during the first half of the twentieth century. Comparing the Irish and Jewish experiences, whose trajectories of homeland-diaspora relations were very different, provides a unique perspective for examining how national movements use economic transactions to attach disparate groups to the national project. By focusing on fundraising, Lainer-Vos challenges the common view of nation-building as only a matter of forging communities by imagining away internal differences: he shows that nation-building also involves organizing relationships so as to allow heterogeneous groups to maintain their difference and yet contribute to the national cause. Nation-building is about much more than creating unifying symbols: it is also about creating mechanisms that bind heterogeneous groups to the nation despite and through their differences.
Author: Mr. Alfred Schipke
Publisher: International Monetary Fund
ISBN: 151358278X
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
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