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Reconstruction Finance Corporation
The Reconstruction Finance Corporation (RFC) was an Independent agencies of the United States government, independent agency of the United States federal government that served as a lender of last resort to US banks and businesses. Established in 1932 by the Presidency of Herbert Hoover, Hoover administration to restore public confidence in the economy and banking to their pre-Great Depression in the United States, Depression levels, the RFC provided financial support to state and local governments, Recapitalization, recapitalized banks to prevent bank failures and stimulate lending, and made loans to railroads, mortgage associations, and other large businesses. The Presidency of Franklin D. Roosevelt, first and second terms, Roosevelt administration's New Deal reforms expanded the agency, enabling it to direct disaster relief funds and provide loans for agriculture, exports, and housing. The RFC closed in 1957 when prosperity had been restored and for-profit private financial in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Agencies Of The United States Government
In the Federal government of the United States, United States federal government, independent agencies are List of federal agencies in the United States, agencies that exist outside the United States federal executive departments, federal executive departments (those headed by a United States Cabinet, Cabinet secretary) and the Executive Office of the President of the United States, Executive Office of the President. In a narrower sense, the term refers only to those independent agencies that, while considered part of the Executive branch of the United States, executive branch, have administrative law, regulatory or rulemaking authority and are insulated from presidential control, usually because the president's power to dismiss the agency head or a member is limited. Established through separate United States Code, statutes passed by United States Congress, Congress, each respective Organic law, statutory grant of authority defines the goals the agency must work towards, as wel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Credit Corporation
The National Credit Corporation was an independent agency of the United States federal government established in 1931 to stem the tide of bank failures across the US. The corporation served as an intermediary in the interbank lending market, loaning funds from its $500,000,000 banker's pool to banks on the verge of failure. While the corporation was successful in restoring the liquidity of banks on the verge of failure, factors such as the high rates of deflation and unemployment meant that the solvency of banks alone would be insufficient to restore public confidence in the economy. In 1932 the corporation was replaced with the Reconstruction Finance Corporation, a federal lender of last resort with the broader scope of supporting state and local governments and making loans to banks, railroads, mortgage associations, and other businesses. History Following the quadrupling of yearly bank failures from 600 in 1929 to 2,293 in 1931, the National Credit Corporation was established b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emil Schram
Emil Schram (November 23, 1893 – September 18, 1987) was the president of the New York Stock Exchange from 1941 to 1951. In the wake of the Great Depression, Schram helped restore confidence in investment and stocks. Before his appointment, Schram did not own any stocks and had never been a Wall Street trader, making him the first outsider to become president of the exchange in 155 years. Early life Schram was born in Peru, Indiana, where he attended local schools through high-school. He was accepted into Harvard and Wharton, but couldn't afford tuition. Instead, he went to work in a timber and coal company with local offices. At age 21 he proved himself to be an effective farm manager, making investment decisions that dramatically increased the output of a local farm under the firms control., Career Schram's early success in farm management led him accept a position as chairman of the National Drainage Association, an agricultural trade group. While working for the Associ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jesse H
Jesse may refer to: People * Jesse (biblical figure), father of David in the Bible * Jesse (given name), including a list of people * Jesse (surname), a list of people Music * ''Jesse'' (album), a 2003 album by Jesse Powell * "Jesse" (song), a 1980 song by Carly Simon * "Jesse", a 1973 song by Janis Ian from the 1974 album ''Stars'', also covered by Roberta Flack on ''Killing Me Softly'' and by Joan Baez * "Jesse", a song from the album '' Valotte'' by Julian Lennon * "Jesse", a song from the album ''The People Tree'' by Mother Earth * "Jesse", a song from the album '' The Drift'' by Scott Walker * "Jesse", a song from the album '' If I Were Your Woman'' by Stephanie Mills * "Jesse", a song from the album ''Donda 2'' by Kanye West Other * ''Jesse'' (film), a 1988 American television film * ''Jesse'' (TV series), a sitcom starring Christina Applegate * ''Jesse'' (novel), a 1994 novel by Gary Soto * ''Jesse'' (picture book), a 1988 children's book by Tim Winton * Je ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atlee Pomerene
Atlee Pomerene (December 6, 1863 – November 12, 1937) was an American Democratic Party politician and lawyer from Ohio. He served as Lieutenant Governor of Ohio for a few months in 1911 and then represented Ohio in the United States Senate from 1911 until 1923. Early life Atlee Pomerene was born on December 6, 1863, in Berlin, Holmes County, Ohio, to Elizabeth and Peter P. Pomerene. He graduated with high honors from Princeton University in 1884. He graduated from the University of Cincinnati College of Law in 1886 and was admitted to the bar in Ohio. Career In 1886, he began practicing law with Charles R. Miller in Canton, Ohio. He then entered a partnership with Judge Robert S. Shields in the firm Shields and Pomerene. He then organized the firm Pomerene, Ambler and Pomerene with Ralph Ambler and his brother Celsus Pomerene. From 1887 to 1901, he served as the city solicitor of Canton. He then worked as prosecutor of Stark County from 1897 to 1900. He prosecuted the homici ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Account
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances. Types of accounts * How banking works In banking, the verbs "deposit" and "withdraw" mean a customer paying money into, and taking money out of, an account, respectively. From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solvency
Solvency, in finance or business, is the degree to which the current assets of an individual or entity exceed the current liabilities of that individual or entity. Solvency can also be described as the ability of a corporation to meet its long-term fixed expenses and to accomplish long-term expansion and growth. This is best measured using the net liquid balance (NLB) formula. In this formula, solvency is calculated by adding cash and cash equivalents to short-term investments, then subtracting notes payable. There exist cryptographic schemes for both proofs of liabilities and assets, especially in the blockchain space. See also * Accounting liquidity * Debt ratio * Going concern * Insolvency * Quick ratio Notes References * * * * * External links *{{Wiktionary-inline Financial economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The department oversees the Bureau of Engraving and Printing and the U.S. Mint, two federal agencies responsible for printing all paper currency and minting coins. The treasury executes currency circulation in the domestic fiscal system, collects all federal taxes through the Internal Revenue Service, manages U.S. government debt instruments, licenses and supervises banks and thrift institutions, and advises the legislative and executive branches on fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting took place mainly in European theatre of World War I, Europe and the Middle Eastern theatre of World War I, Middle East, as well as in parts of African theatre of World War I, Africa and the Asian and Pacific theatre of World War I, Asia-Pacific, and in Europe was characterised by trench warfare; the widespread use of Artillery of World War I, artillery, machine guns, and Chemical weapons in World War I, chemical weapons (gas); and the introductions of Tanks in World War I, tanks and Aviation in World War I, aircraft. World War I was one of the List of wars by death toll, deadliest conflicts in history, resulting in an estimated World War I casualties, 10 million military dead and more than 20 million wounded, plus some 10 million civilian de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending agreement. The protection that collateral provides generally allows lenders to offer a lower interest rate on loans that have collateral. The reduction in interest rate can be up to several percentage points, depending on the type and value of the collateral. For example, the Annual Percentage Rate (APR) on an unsecured loan is often much higher than on a secured loan or logbook loan. If a borrower defaults on a loan (due to insolvency or another event), that borrower loses the property pledged as collateral, with the lender then becoming the owner of the property. In a typical mortgage loan transaction, for instance, the real estate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1936 Democratic National Convention
The 1936 Democratic National Convention was held in Philadelphia, Pennsylvania from June 23 to 27, 1936. The convention resulted in the nomination of President Franklin D. Roosevelt and Vice President John N. Garner for reelection. Changes to rules At the 1936 Democratic Convention, the rule requiring candidates for president and vice president to have a majority of two-thirds of the delegates votes to win nomination, which had existed since 1832, was abolished. Roosevelt had long pushed for the rule's abolition, in part due to past deadlocks: for example, the 1924 convention had required 103 ballots over roughly two weeks to nominate John W. Davis. The conventioneers provided that a simple majority of delegates would be required to win nomination, allowing for candidates to more easily be nominated and thus produce less balloting. In this regard, only one Democratic Convention after 1932 has required multiple ballots (that of 1952, which required three). This also beg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
