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Author: Susan Jean Rabern
Publisher:
ISBN:
Category :
Languages : en
Pages : 522
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Book Description
Author: Susan Jean Rabern
Publisher:
ISBN:
Category :
Languages : en
Pages : 522
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Book Description
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: Danielle DiMartino Booth
Publisher: Penguin
ISBN: 0735211655
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
A Federal Reserve insider pulls back the curtain on the secretive institution that controls America’s economy After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System. She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed. DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devotion to their theoretical models. Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quantitative easing and deeply depressed interest rates. But as she puts it, “In a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight.” Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented experiment: lowering interest rates to zero and flooding America with easy money. As she feared, millions of individuals, small businesses, and major corporations made rational choices that didn’t line up with the Fed’s “wealth effect” models. The result: eight years and counting of a sluggish “recovery” that barely feels like a recovery at all. While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn’t doing so well. Nearly half of men eighteen to thirty-four live with their parents, the highest level since the end of the Great Depression. Incomes are barely increasing for anyone not in the top ten percent of earners. And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate. Millions have been left vulnerable and afraid. Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues. And then what? DiMartino Booth pulls no punches in this exposé of the officials who run the Fed and the toxic culture they created. She blends her firsthand experiences with what she’s learned from dozens of high-powered market players, reams of financial data, and Fed documents such as transcripts of FOMC meetings. Whether you’ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, “Every American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.”
Author: Lawrence Jacobs
Publisher: Oxford University Press
ISBN: 0199388989
Category : Political Science
Languages : en
Pages : 272
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Book Description
The Federal Reserve, created nearly a century ago, is the most powerful central bank in the world. The Fed's power, which derives from its ability to alter the money supply and move interest rates, weighs heavily not only on the US economy, but on the world economy as well. Not surprisingly, most scholarship on the Fed has focused on its economic role; however, the Fed's power isn't merely economic but is also political. Since its decisions benefit some economic sectors (and hence interest groups) and not others, it effectively makes political choices when shaping economic policy. Lawrence R. Jacobs and Desmond King's Fed Power is the first sustained synthesis of the Fed's political role-especially the way in which it uses its power to benefit some interest groups and not others-since the 2008 financial crisis. The book closely examines the Fed's unilateral actions during the 2008-2009 financial crisis when it leveraged half of the country's net worth without a congressional vote or presidential authorization. While the country was spared a second depression, the Fed's actions doled out lopsided benefits to finance. The Fed's favoritism and unprecedented assertions of power provoked public unease and a bipartisan congressional backlash to restrain it. Fed Power concludes with bold proposals to reform America's financial management to prevent future crises and to restore democratic accountability. A powerful critique of how the Federal Reserve governs the American economy, Fed Power will be essential reading for anyone interested in how inequality has increased since 2009, even throughout a liberal presidency committed to reducing inequality.
Author: Vincent Mccrudden
Publisher: Createspace Independent Publishing Platform
ISBN: 9781494948603
Category : Biography & Autobiography
Languages : en
Pages : 448
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Book Description
Vincent McCrudden was born and raised on Long Island, New York. Most of his adult career was spent on Wall Street. During 20 plus years, McCrudden either executed or traded hundreds of billions of dollars of sophisticated financial instruments for the top financial institutions in the world. During some of his time on Wall Street, he worked in the World Trade Center and survived both attacks in 1993 and 2001. On 9/11 he lost 23 friends. In 1995 McCrudden started a small hedge fund but unfortunately was the victim of fraud in the copper markets that resulted in some of the biggest fines in futures history against Sumitomo Bank, JP Morgan, Merrill Lynch and others. McCrudden became a lead plaintiff against these large financial institutions.Unknown to him at the time, McCrudden became a target of these big financial institutions and the US Financial Regulators that do their bidding. Ultimately, McCrudden would be denied licenses that he had worked so hard to get, and would shockingly be charged with mail fraud in 2000. In 2003, eight years after the Sumitomo, JP Morgan, Merrill Lynch fraud, McCrudden was acquitted in federal court after a 2.5 week trial in less than an hour of deliberations. He faced over six years in jail even though his fund was the actual victim of fraud and the investors suffered no economic loss. McCrudden would endure sixteen years and counting of harassment and abuse of authority at the highest levels in Government. In 2008 and 2009 when the world was embroiled in the financial crisis, McCrudden ran a small hedge fund that produced a 138% net audited return. In 2008 with a return of 99.6% return, McCrudden's fund was one of the best performing multi-strategy funds in the world. The Government and US Financial Regulators would not tolerate McCrudden's success and went after him harder, forcing him to sell his successful fund. McCrudden left all he has ever known including his two children to try and re-start his life in Singapore. Less than 3 months in Singapore however, McCrudden continued to be harassed and was sued by the CFTC for $58 million dollars for a “simple registration violation.” Around the same time, the house that McCrudden's ex-wife and children lived in was raided by the Government, a place where McCrudden had not lived in four years. They interrogated McCrudden's nineteen year old daughter who was home alone from college. Angry, as any parent would be, McCrudden wrote some provocative things on his company website after seeing from the website host that all the top IP addresses viewing the website were all Government agencies. After consulting with his attorney, on January 14, 2011, McCrudden left his fiancé in Singapore to “speak” with law enforcement about what was written. After a nineteen hour direct flight, McCrudden was met at the airport by 40 armed federal agents and would never see the light of day again for two years. McCrudden was denied bail and charged with the web site postings, but was also was charged with an email that he denied he ever sent from September. McCrudden now believes that the NSA or some Government agency set him up or framed him. McCrudden was incorrectly told he faced 30 years in prison and was extorted to plead guilty. McCrudden has written a true memoir with a little bit of his upbringing, his stint as a professional soccer player, his experiences in New York City, his career on Wall Street, and his struggles with the US Government and all of its tentacles. McCrudden believes with Julian Assange, Wiki leaks and Edward Snowden, the public would be more open and outraged to read and hear a story like his. McCrudden views himself as just a father, an apprentice that learned a trade and tried to excel at it only to be thwarted at every turn by Government lawyers who abused their authority…..for sport no less. I hope you will find time to read this story and help McCrudden on his journey to educate people, and ultimately, evoke change.
Author: Ron Paul
Publisher: Grand Central Publishing
ISBN: 044656818X
Category : Political Science
Languages : en
Pages : 179
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Book Description
In the post-meltdown world, it is irresponsible, ineffective, and ultimately useless to have a serious economic debate without considering and challenging the role of the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.
Author: Karen Petrou
Publisher: John Wiley & Sons
ISBN: 1119726743
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
Author: Mr.Ashok Vir Bhatia
Publisher: International Monetary Fund
ISBN: 1475504713
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States.
Author: United States. Department of Justice
Publisher:
ISBN:
Category : Justice, Administration of
Languages : en
Pages :
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Book Description
Author: Mark Amtower
Publisher: John Wiley & Sons
ISBN: 0470933860
Category : Business & Economics
Languages : en
Pages : 261
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Book Description
Learn the crucial ins and outs of the world’s largest market The U.S government market represents the largest single market—anywhere. Government contract tracking firm Onvia estimates that government business—federal, state, local, and education—represents better than 40 percent of the nation’s GDP. While anyone can play in this market, only those with the right preparation can win. Selling to the Government offers real-world advice for successful entry into the biggest market anywhere. Get proven approaches, strategies, tactics, and tools to make your business stand out, build relationships, understand procedures, and win high-stakes contracts. • Every year thousands of companies enter the massive U.S. Government (BtoG) marketplace, and by the end of the first year, most are gone and less than 10 percent make it to year two • Author has advised hundreds of companies, including Apple, Dell, CDW, Northrop Grumman, General Dynamics, IT, GTSI, and many small firms, on all aspects of marketing and selling to the government From the go/no-go decision, through company infrastructure requirements, marketing, sales, business development, and more, this book offers the best advice from the most recognized authority in the market.
