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Financial Crisis Inquiry Commission
The Financial Crisis Inquiry Commission (FCIC) was established in 2010 in the United States to investigate the causes of the 2008 financial crisis. The commission, led by Phil Angelides, held public hearings, gathered testimony from hundreds, and released its report in January 2011. The report concluded that "the collapse of the housing bubble—fueled by low interest rates, easy and available credit, scant regulation, and toxic mortgages—that was the spark that ignited" events leading to the financial crisis. The commission was explicit in its concerns about insurance giant American International Group, financial giants Bear Stearns and Lehman Brothers, and mortgage giants Fannie Mae and Freddie Mac, each of which the government brought under consideration for financial rescue. Creation and statutory mandate The commission has been nicknamed the Angelides Commission after its chairman Phil Angelides. The commission has been compared to the Pecora Commission, which investigate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bipartisanship
Bipartisanship, sometimes referred to as nonpartisanship, is a political situation, usually in the context of a two-party system (especially those of the United States and some other western countries), in which opposing political parties find common ground through compromise. In multi-partisan electoral systems or in situations where multiple parties work together, it is called multipartisanship. Partisanship is the antonym, where an individual or political party adheres only to its interests without compromise. Usage The adjective ''bipartisan'' can refer to any political act in which both of the two major political parties agree about all or many parts of a political choice. Bipartisanship involves trying to find common ground, but there is debate whether the issues needing common ground are peripheral or central ones. Often, compromises are called bipartisan if they reconcile the desires of both parties from an original version of legislation or other proposal. Failure to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Saving Glut
A global saving glut (also GSG, cash hoarding, dead cash, dead money, glut of excess intended saving, or shortfall of investment intentions) is a situation in which desired savingAccording tBernanke 2005national saving is the "sum of saving done by households (for example, through contributions to employer-sponsored pension accounts) and saving done by businesses (in the form of retained earnings) less any budget deficit run by the government (which is a use rather than a source of saving). Government investment in roads or schools, for example, is part of national saving in the national income accounts. National saving is reduced by the government deficit net of government investment, not by the entire government deficit. The difference between domestic investment and national saving is not affected by this qualification, however, as government investment and the implied adjustment to national saving cancel each other out." exceeds desired investment. By 2005 Ben Bernanke, chairma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government In The United States
Most U.S. states and territories have at least two tiers of local government: County (United States), counties and municipality, municipalities. Louisiana uses the term List of parishes in Louisiana, parish and Alaska uses the term List of boroughs and census areas in Alaska, borough for what the United States Census Bureau, U.S. Census Bureau terms county equivalents in those states. Civil townships or towns are used as subdivisions of a county in 20 states, mostly in the Northeast and Midwest. Depending on the state, local governments may operate under their own charters or under general law, or a state may have a mix of chartered and general-law local governments. Generally, in a state having both chartered and general-law local governments, the chartered local governments have more local autonomy and home rule. Municipalities are typically subordinate to a county government, with some exceptions. Certain cities, for example, have consolidated with their county government as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Governments Of The United States
In the United States, state governments are institutional units exercising functions of government at a level below that of the federal government. Each U.S. state's government holds legislative, executive, and judicial authority over a defined geographic territory. The United States comprises 50 states: 9 of the Thirteen Colonies that were already part of the United States at the time the Constitution took effect in 1789, 4 that ratified the Constitution after its commencement, plus 37 that have been admitted since by Congress as authorized under Article IV, Section 3 of the Constitution. Legal status While each of the state governments within the United States holds legal and administrative jurisdiction within its bounds, they are not sovereign in the Westphalian sense in international law which says that each state has sovereignty over its territory and domestic affairs, to the exclusion of all external powers, on the principle of non-interference in another state' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Government Of The United States
The Federal Government of the United States of America (U.S. federal government or U.S. government) is the Federation#Federal governments, national government of the United States. The U.S. federal government is composed of three distinct branches: United States Congress, legislative, President of the United States, executive, and Federal judiciary of the United States, judicial. Powers of these three branches are defined and vested by the Constitution of the United States, U.S. Constitution, which has been in continuous effect since May 4, 1789. The powers and duties of these branches are further defined by Act of Congress, Acts of Congress, including the creation of United States federal executive departments, executive departments and courts subordinate to the Supreme Court of the United States, U.S. Supreme Court. In the Federalism in the United States, federal division of power, the federal government shares sovereignty with each of the 50 states in their respective t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Member Of Congress
A member of congress (MOC), also known as a congressman or congresswoman, is a person who has been appointed or elected and inducted into an official body called a congress, typically to represent a particular constituency in a legislature. The term member of parliament (MP) is an equivalent term within a parliamentary system of government. Philippines In the Congress of the Philippines, the title ''member of congress'' is almost never used; instead, legislators are called ''congressmen'' or ''congresswomen''. However, these terms apply only to members of the House of Representatives, not to members of the Senate, who are called ''senators''. United States In referring to an individual lawmaker's capacity of serving in the United States Congress, a bicameral federal legislature, the term ''member of congress'' is used less often than other terms in the United States. This is because in the United States, the word ''Congress'' is used as a descriptive term for the collective bod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minority Leader Of The United States House Of Representatives
Party leaders of the United States House of Representatives, also known as floor leaders, are congresspeople who coordinate legislative initiatives and serve as the chief spokespersons for their parties on the House floor. These leaders are elected every two years in secret balloting of their party caucuses or conferences: the House Democratic Caucus and the House Republican Conference. Depending on which party is in power, one party leader serves as majority leader and the other as minority leader. Unlike the Senate majority leader, the House majority leader is the second highest-ranking member of their party's House caucus, behind the speaker of the House. The majority leader is responsible for setting the annual legislative agenda, scheduling legislation for consideration, and coordinating committee activity. The minority leader serves as floor leader of the opposition party, and is the minority counterpart to the speaker. The minority leader also speaks for the minorit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republican Party (United States)
The Republican Party, also known as the Grand Old Party (GOP), is a Right-wing politics, right-wing political parties in the United States, political party in the United States. One of the Two-party system, two major parties, it emerged as the main rival of the then-dominant Democratic Party (United States), Democratic Party in the 1850s, and the two parties have dominated American politics since then. The Republican Party was founded in 1854 by anti-slavery activists opposing the Kansas–Nebraska Act and the expansion of slavery in the United States, slavery into U.S. territories. It rapidly gained support in the Northern United States, North, drawing in former Whig Party (United States), Whigs and Free Soil Party, Free Soilers. Abraham Lincoln's 1860 United States presidential election, election in 1860 led to the secession of Southern states and the outbreak of the American Civil War. Under Lincoln and a Republican-controlled Congress, the party led efforts to preserve th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Party Leaders Of The United States Senate
The positions of majority leader and minority leader are held by two United States senators and people of the party leadership of the United States Senate. They serve as chief spokespersons for their respective political parties, holding the majority and the minority in the chamber. They are each elected to their posts by the senators of their party caucuses: the Senate Democratic Caucus and the Senate Republican Conference. By Senate precedent, the presiding officer gives the majority leader priority in obtaining recognition to speak on the floor. The majority leader serves as the chief representative of their party in the Senate and is considered the most powerful member of the chamber. They also serve as the chief representative of their party in the entire Congress if the House of Representatives, and thus the office of the speaker of the House, is controlled by the opposition party. The Senate's executive and legislative business is also managed and scheduled by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speaker Of The United States House Of Representatives
The speaker of the United States House of Representatives, commonly known as the speaker of the House or House speaker, is the Speaker (politics), presiding officer of the United States House of Representatives, the lower chamber of the United States Congress. The office was established in 1789 by Article One of the United States Constitution#Section 2: House of Representatives, Article I, Section II, of the U.S. Constitution. By custom and House rules, the speaker is the political and parliamentary leader of the House and is simultaneously its presiding officer, ''de facto'' Party leaders of the United States House of Representatives, leader of the body's majority party, and the institution's administrative head. Speakers also perform various other administrative and procedural functions. Given these many roles and responsibilities, the speaker usually does not personally preside over debatesthat duty is instead delegated to members of the House from the majority partynor regul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
