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John M. Reich
John M. Reich was a Director of the Federal Deposit Insurance Corporation (FDIC). He was sworn in on January 15, 2001, following an appointment by President of the United States Bill Clinton and served on the FDIC Board for eight years. Reich served as Vice Chairman of the Board of the FDIC from November 2002 until he was nominated on June 7, 2005 by President George W. Bush to be Director of the Office of Thrift Supervision (OTS), and the U.S. Senate confirmed his nomination on July 29, 2005. He also served as Acting Chairman of the FDIC from July to August 2001. As Deputy Chairman, 2001–2005, Reich served as the Chair of FDIC's Audit Committee during a time when the General Accounting Office issued reportable conditions regarding information security at the Corporation. Reich took the oath of Director of OTS on August 9, 2005 and continued in that capacity as well as serving as a member of the FDIC Board of Directors until he resigned on February 12, 2009 and stepped down Febru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Thrift Supervision
The Office of Thrift Supervision (OTS) was a List of federal agencies in the United States, United States federal agency under the United States Department of the Treasury, Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations. It was created in 1989 as a renamed version of the Federal Home Loan Bank Board, another federal agency (that was faulted for its role in the savings and loan crisis). Like other U.S. federal bank regulators, it was paid by the banks it regulated. The OTS was initially seen as an aggressive regulator, but was later lax. Declining revenues and staff led the OTS to Regulatory capture, market itself to companies as a lax regulator in order to get revenue. The OTS also expanded its oversight to companies that were not banks. Some of the companies that failed under OTS supervision during the 2008 financial crisis include American International Group ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Of Staff
The title chief of staff (or head of staff) identifies the leader of a complex organization such as the armed forces, institution, or body of persons and it also may identify a principal staff officer (PSO), who is the coordinator of the supporting Employment, staff or a primary aide-de-camp to an important individual, such as a President (government title), president, or a senior military officer, or leader of a large organization. In general, a chief of staff provides a buffer between a chief executive and that executive's direct-reporting team. The chief of staff generally works behind the scenes to solve problems, mediate disputes, and deal with issues before they are brought to the chief executive. Often chiefs of staff act as a confidant and advisor to the chief executive, acting as a sounding board for ideas. Ultimately the actual duties depend on the position and the people involved. Civilian Government Australia *Chief of Staff to the Prime Minister (Australia), Chief ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timothy Geithner
Timothy Franz Geithner (; born August 18, 1961) is an American former central banker who served as the 75th United States secretary of the treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. Since March 2014, he has served as president and chairman of Warburg Pincus, a private equity firm headquartered in New York City. As President of the New York Fed and Secretary of the Treasury, Geithner had a key role in government efforts to recover from the 2008 financial crisis and the Great Recession. At the New York Fed, Geithner helped manage crises involving Bear Stearns, Lehman Brothers, and the American International Group; as Treasury Secretary, he oversaw allocation of $350 billion under the Troubled Asset Relief Program, enacted during the previous administration in response to the subprime mortgage crisis. Geithner also managed the administration' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Secretary Of The Treasury
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the Cabinet of the United States, president's cabinet and, by law, a member of the United States National Security Council, National Security Council, and fifth in the U.S. presidential line of succession. Under the Appointments Clause of the United States Constitution, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the United States Senate Committee on Finance, Senate Committee on Finance, will take the office if confirmed by the majority of the full United States Senate. The United States Secretary of State, secretary of state, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lehman Brothers
Lehman Brothers Inc. ( ) was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, equity, fixed-income and derivatives sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008. On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehman's involvement in the subprime mortgage crisis and its exposure to less liquid assets. Lehman's bankruptcy filing is the largest in US history, having ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia.Tysons Corner CDP, Virginia ". United States Census Bureau. Retrieved on May 7, 2009. The FHLMC was created in 1970 to expand the secondary market for Mortgage loan, mortgages in the US. Along with its sister organization, the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purcha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitization, securitizing mortgage loans in the form of mortgage-backed security, mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the Fortune 500, ''Fortune'' 50 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles E
Charles is a masculine given name predominantly found in English language, English and French language, French speaking countries. It is from the French form ''Charles'' of the Proto-Germanic, Proto-Germanic name (in runic alphabet) or ''*karilaz'' (in Latin alphabet), whose meaning was "free man". The Old English descendant of this word was ''Churl, Ċearl'' or ''Ċeorl'', as the name of King Cearl of Mercia, that disappeared after the Norman conquest of England. The name was notably borne by Charlemagne (Charles the Great), and was at the time Latinisation of names, Latinized as ''Karolus'' (as in ''Vita Karoli Magni''), later also as ''Carolus (other), Carolus''. Etymology The name's etymology is a Common Germanic noun ''*karilaz'' meaning "free man", which survives in English as wikt:churl, churl (< Old English ''ċeorl''), which developed its deprecating sense in the Middle English period. Some Germanic languages, for example Dutch language, Dutch and German ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomson Reuters
Thomson Reuters Corporation ( ) is a Canadian multinational corporation, multinational content-driven technology Conglomerate (company), conglomerate. The company was founded in Toronto, Ontario, Canada, and maintains its headquarters at 19 Duncan Street there. Thomson Reuters was created by the Thomson Corporation's purchase of the British company Reuters Group on 17 April 2008. It is majority-owned by the Woodbridge Company, a holding company for the Family tree of Thomson family, Thomson family of Canada. History Thomson Corporation The forerunner of the Thomson company was founded in 1934 by Roy Thomson, 1st Baron Thomson of Fleet, Roy Thomson in Ontario as the publisher of ''The Timmins Daily Press''. In 1953, Thomson acquired the ''The Scotsman, Scotsman'' newspaper and moved to Scotland the following year. He consolidated his media position in Scotland in 1957, when he won the government-granted monopoly, franchise for Scottish Television. In 1959, he bought the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by Paul Reuter. The Thomson Corporation of Canada acquired the agency in a 2008 corporate merger, resulting in the formation of the Thomson Reuters Corporation. In December 2024, Reuters was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History 19th century Paul Julius Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions of 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many Client (business), clients withdraw their money from a bank, because they believe Bank failure, the bank may fail in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvency, insolvent. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank may acquire more cash from other banks or from the central bank, or limit the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
