352 relations: Academy Award for Best Adapted Screenplay, Academy Award for Best Documentary Feature, Adjustable-rate mortgage, Ailsa McKay, Alan Greenspan, Alliance & Leicester, Alt-A, American Civil Liberties Union, American Enterprise Institute, American International Group, American Recovery and Reinvestment Act of 2009, Ameriquest Mortgage, Andrew Kliman, Angelo Mozilo, April 2009 Moldovan parliamentary election protests, Asset-backed commercial paper, Asset–liability mismatch, Assets under management, Associated Press, Attorney General of California, Austrian School, Bailout, Bait-and-switch, Balance of payments, Bank failure, Bank holding company, Bank of America Home Loans, Bank of England, Bank run, Banking (Special Provisions) Act 2008, Bankruptcy of Lehman Brothers, Barack Obama, Basel III, BBC News, Bear Stearns, Ben Bernanke, Bloomberg Businessweek, BNP Paribas, Bond credit rating, Bradford & Bingley, Bridge bank, Brookings Institution, Brussels, California, Capital (economics), Capital account, Case–Shiller index, Cato Institute, Central bank, Chapter 7, Title 11, United States Code, ..., Charles Ferguson (filmmaker), Chuck Schumer, Citigroup, Collateralized debt obligation, Commercial paper, Commodity, Commodity Futures Modernization Act of 2000, Community Reinvestment Act, Conservatorship, Copula (probability theory), Corporate governance, Credit default swap, Credit derivative, Credit rating, Credit rating agencies and the subprime crisis, Credit rating agency, Credit union, Crisis theory, Cross-collateralization, Currency crisis, Currency war, Current account, Daedalus (journal), David S. Loeb, David X. Li, Dean Baker, Deflation, Demeter Press, Deposit insurance, Depository Institutions Deregulation and Monetary Control Act, Deregulation, Derivative (finance), Developing country, Disposable and discretionary income, Dodd–Frank Wall Street Reform and Consumer Protection Act, Dot-com bubble, Dow Jones Industrial Average, Early 1980s recession, Economic collapse, Economic recovery, Efficient-market hypothesis, Emergency Economic Stabilization Act of 2008, Enron scandal, Eric Janszen, Euro, European Central Bank, European debt crisis, Europeans for Financial Reform, Eurozone, Eviction, Executive compensation, Fair value accounting and the subprime mortgage crisis, Fannie Mae, Federal Deposit Insurance Corporation, Federal funds rate, Federal Home Loan Banks, Federal Reserve Bank of St. Louis, Federal Reserve System, Fellow, Finance capitalism, Financial Accounting Standards Board, Financial capital, Financial crisis, Financial Crisis Inquiry Commission, Financial crisis of 2007–2008, Financial Crisis Responsibility Fee, Financial economics, Financial engineering, Financial innovation, Financial institution, Financial regulation, Financial risk, Financial Times, Financialization, Fiscal policy, Florida, Floyd Norris, Foreclosure, Foreign Affairs, Form 10-Q, Fortis (finance), Fred Harrison (author), Freddie Mac, Garn–St. Germain Depository Institutions Act, Geir Haarde, George Soros, George Washington University, Glass–Steagall legislation, Global financial system, Global saving glut, Goldman Sachs, Government of the United Kingdom, Government-sponsored enterprise, Gramm–Leach–Bliley Act, Great Depression, Great Recession, Harvard University Press, HBOS, Hedge fund, Henry Paulson, Henry Waxman, Heterodox economics, History of wikis, Home equity, Hyman Minsky, Hypo Real Estate, Identity (mathematics), Income inequality in the United States, IndyMac, Inside Job (2010 film), Institutional investor, International Monetary Fund, Investment banking, Investment management, Jakob B. Madsen, James B. Stewart, James Burnham, Janet Yellen, Jimmy Carter, Johan Norberg, John Bellamy Foster, John C. Bogle, Joseph Stiglitz, JPMorgan Chase, Kevin Phillips (political commentator), Kondratiev wave, Kurt Richebächer, Lehman Brothers, Lender of last resort, Leverage (finance), Libertarianism, Library of Congress, Liquidity crisis, Liquidity trap, List of acronyms associated with the eurozone crisis, List of bank failures in the United States (2008–present), List of banks acquired or bankrupted during the Great Recession, List of banks acquired or bankrupted in the United States during the financial crisis of 2007–08, List of economic crises, List of entities involved in 2007–08 financial crises, List of largest U.S. bank failures, Long-Term Capital Management, Los Angeles, Low-Income Countries Under Stress, Mail and wire fraud, Mainstream economics, Margunn Bjørnholt, Mark Roeder, Mark-to-market accounting, Market liquidity, Market saturation, Martin Wolf, Med Jones, Merrill Lynch, Mezzanine capital, Michael Hudson (economist), Michael Lewis, Milken Institute, Monetary policy, Money market, Money market fund, Monthly Review, Moody's Investors Service, Moral hazard, Morgan Stanley, Mortgage fraud, Mortgage loan, Mortgage underwriting, Mortgage-backed security, Nassim Nicholas Taleb, National Bureau of Economic Research, National Court (Iceland), National fiscal policy response to the Great Recession, Nationalisation of Northern Rock, Nationalization, Negative amortization, Neoliberalism, Net capital rule, Nick Penniman, Nickel(II) sulfate, Nobel Memorial Prize in Economic Sciences, Nomi Prins, Northern Rock, Notional amount, Nouriel Roubini, NPR, Occupy movement, Office of Federal Housing Enterprise Oversight, Office of Thrift Supervision, Orders of magnitude (numbers), Over-the-counter (finance), Overseas Development Institute, Paradox of thrift, Paul Krugman, Paul Volcker, PBS, Peabody Award, Pessimism porn, Peter J. Wallison, Peter Schiff, PIGS (economics), Preferred stock, Principal–agent problem, Private equity in the 2000s, Proprietary trading, Quantitative easing, Racial inequality in the United States, Raghuram Rajan, Random walk hypothesis, Rate of profit, Ravi Batra, Real estate appraisal, Real estate bubble, Recession, Remittance, Reserve Bank of India, Reuters, Richard S. Fuld Jr., Risk management, Risk premium, Robert J. Shiller, Robert Reich, Royal Bank of Scotland, Savings and loan association, Savings and loan crisis, Second mortgage, Secondary mortgage market, Securitization, Security (finance), September 11 attacks, SFAS 157, Shadow banking system, Social Science Research Council, Solvency, Sony Pictures Classics, Standard & Poor's, Steve Keen, Stock market, Strategische Unternehmensführung, Structured investment vehicle, Subprime crisis impact timeline, Subprime lending, Supply chain, Swiss franc, Synthetic CDO, TED spread, The Big Mo, The Big Short, The Big Short (film), The Black Swan: The Impact of the Highly Improbable, The Chicago Plan Revisited, The Downfall of Capitalism and Communism, The Economist, The Guardian, The New York Times, The New Yorker, The Real News, The Wall Street Journal, TheStreet.com, Thomson Reuters, Time (magazine), Timothy Geithner, Too big to fail, Toxic asset, Tranche, Transaction account, Troubled Asset Relief Program, U.S. Securities and Exchange Commission, UBS, United States, United States Census, United States Congress Joint Economic Committee, United States Department of the Treasury, United States House Committee on Oversight and Government Reform, United States housing bubble, United States Senate Committee on Banking, Housing, and Urban Affairs, United States Senate Homeland Security Permanent Subcommittee on Investigations, United States Treasury security, Vince Cable, Volcker Rule, Wachovia, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, Wall Street Crash of 1929, Warren Buffett, Washington Mutual, Wharton School of the University of Pennsylvania, William Greider, Wired (magazine), Working Group on Financial Markets, Wynne Godley, 1997 Asian financial crisis, 1998 Russian financial crisis, 2008 Greek riots, 2008 United Kingdom bank rescue package, 2008–09 Keynesian resurgence, 2008–2011 Icelandic financial crisis, 2009 G20 London summit protests, 2009 Icelandic financial crisis protests, 2009 May Day protests, 2010 United States foreclosure crisis, 2012 May Day protests, 83rd Academy Awards. 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The Academy Award for Best Adapted Screenplay is one of the Academy Awards, the most prominent film awards in the United States.
The Academy Award for Documentary Feature is an award for documentary films.
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets.
Ailsa McKay (7 June 1963 – 5 March 2014) was a Scottish economist, government policy adviser, a leading feminist economist and Professor of Economics at Glasgow Caledonian University.
Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006.
Alliance & Leicester plc was a British bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society.
An Alt-A mortgage, short for Alternative A-paper, is a type of U.S. mortgage that, for various reasons, is considered riskier than A-paper, or "prime", and less risky than "subprime," the riskiest category.
The American Civil Liberties Union (ACLU) is a nonprofit organization whose stated mission is "to defend and preserve the individual rights and liberties guaranteed to every person in this country by the Constitution and laws of the United States." Officially nonpartisan, the organization has been supported and criticized by liberal and conservative organizations alike.
The American Enterprise Institute for Public Policy Research, known simply as the American Enterprise Institute (AEI), is a conservative think tank based in Washington, D.C. which researches government, politics, economics and social welfare.
American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions.
The American Recovery and Reinvestment Act of 2009 (ARRA), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.
Ameriquest was one of the largest United States sub-prime mortgage lenders until its dissolution in September 2007.
Andrew Kliman is an American economist and professor of Economics.
Angelo R. Mozilo (born 1938) is the former chairman of the board and chief executive officer of Countrywide Financial until July 1, 2008.
Protests against the April 2009 Moldovan parliamentary election results, began on 6 April 2009, in major cities of Moldova (including Bălți and the capital, Chișinău) before the final official results were announced.
Asset-backed commercial paper (ABCP) is a form of commercial paper that is collateralized by other financial assets.
In finance, an asset–liability mismatch occurs when the financial terms of an institution's assets and liabilities do not correspond.
In finance, assets under management (AUM), sometimes called funds under management (FUM), measures the total market value of all the financial assets which a financial institution such as a mutual fund, venture capital firm, or brokerage house manages on behalf of its clients and themselves.
The Associated Press (AP) is a U.S.-based not-for-profit news agency headquartered in New York City.
The Attorney General of California is the state attorney general of the Government of California.
The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.
A bailout is a colloquial term for the provision of financial help to a corporation or country which otherwise would be on the brink of failure or bankruptcy.
Bait-and-switch is a form of fraud used in retail sales but also employed in other contexts.
The balance of payments, also known as balance of international payments and abbreviated B.O.P. or BoP, of a country is the record of all economic transactions between the residents of the country and of the world in a particular period (over a quarter of a year or more commonly over a year).
A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities.
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself.
Bank of America Home Loans is the mortgage unit of Bank of America.
The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom of Great Britain and Northern Ireland and the model on which most modern central banks have been based.
A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.
The Banking (Special Provisions) Act 2008 (c 2) is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008, remains the largest bankruptcy filing in U.S. history, with Lehman holding over in assets.
Barack Hussein Obama II (born August 4, 1961) is an American politician who served as the 44th President of the United States from January 20, 2009, to January 20, 2017.
Basel III (or the Third Basel Accord or Basel Standards) is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs.
The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase.
Ben Shalom Bernanke (born December 13, 1953) is an American economist at the Brookings Institution who served two terms as Chairman of the Federal Reserve, the central bank of the United States, from 2006 to 2014.
Bloomberg Businessweek is an American weekly business magazine published by Bloomberg L.P. Businessweek was founded in 1929.
BNP Paribas is a French international banking group.
In investment, the bond credit rating represents the credit worthiness of corporate or government bonds.
Bradford & Bingley plc was a British bank with headquarters in the West Yorkshire town of Bingley.
A bridge bank is an institution created by a national regulator or central bank to operate a failed bank until a buyer can be found for its operations.
The Brookings Institution is a century-old American research group on Think Tank Row in Washington, D.C. It conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and global economy and development.
Brussels (Bruxelles,; Brussel), officially the Brussels-Capital Region (All text and all but one graphic show the English name as Brussels-Capital Region.) (Région de Bruxelles-Capitale, Brussels Hoofdstedelijk Gewest), is a region of Belgium comprising 19 municipalities, including the City of Brussels, which is the de jure capital of Belgium.
California is a state in the Pacific Region of the United States.
In economics, capital consists of an asset that can enhance one's power to perform economically useful work.
In macroeconomics and international finance, the capital account (also known as the financial account) is one of two primary components of the balance of payments, the other being the current account.
The Standard & Poor's Case–Shiller Home Price Indices are repeat-sales house price indices for the United States.
The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of the conglomerate Koch Industries.
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.
Chapter 7 of the Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States (in contrast, Chapters 11 and 13 govern the process of reorganization of a debtor in bankruptcy).
Charles Henry Ferguson (born March 24, 1955) is the founder and president of Representational Pictures, Inc., and director and producer of ''No End in Sight: The American Occupation of Iraq'' (2007) and Inside Job (2010), which won the Academy Award for Best Documentary.
Charles Ellis Schumer (born November 23, 1950) is an American politician of the Democratic Party serving as the senior United States Senator from New York, a seat he was first elected to in 1998.
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City.
A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS).
Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of not more than 364 days.
In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured modernized regulation of financial products known as over-the-counter derivatives.
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
Conservatorship is a legal concept in the United States.
In probability theory and statistics, a copula is a multivariate probability distribution for which the marginal probability distribution of each variable is uniform.
Corporate governance is the mechanisms, processes and relations by which corporations are controlled and directed.
A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event.
In finance, a credit derivative refers to any one of "various instruments and techniques designed to separate and then transfer the credit risk"The Economist Passing on the risks 2 November 1996 or the risk of an event of default of a corporate or sovereign borrower, transferring it to an entity other than the lender or debtholder.
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.
Credit rating agencies (CRAs) — firms which rate debt instruments/securities according to the debtor's ability to pay lenders back — played a significant role at various stages in the American subprime mortgage crisis of 2007-2008 that led to the Great Recession of 2008-2009.
A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely interest payments and the likelihood of default.
A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.
Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is now generally associated with Marxian economics.
Cross-collateralization is a term used when the collateral for one loan is also used as collateral for another loan.
A currency crisis is a situation in which serious doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate.
Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
In economics, a country's current account is one of the two components of its balance of payments, the other being the capital account (also known as the financial account).
Dædalus is a peer-reviewed academic journal founded in 1955 as a replacement for the Proceedings of the American Academy of Arts and Sciences, the volume and numbering system of which it continues.
David S. Loeb (January 19, 1924 – June 30, 2003) was the co-founder of both Countrywide Financial Corp and IndyMac Bank along with former protégé and longtime business partner Angelo Mozilo.
David X. Li (born Nanjing, China in the 1960s) is a quantitative analyst and actuary who pioneered the use of Gaussian copula models for the pricing of collateralized debt obligations (CDOs) in the early 2000s.
Dean Baker (born July 13, 1958) is an American macroeconomist and co-founder, with Mark Weisbrot, of the Center for Economic and Policy Research (CEPR) in Washington, D.C. He is credited as being one of the first economists to have discovered the 2007–2008 United States housing bubble.
In economics, deflation is a decrease in the general price level of goods and services.
Demeter Press is a not-for-profit feminist academic publisher headquartered in Ontario, Canada.
Explicit deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due.
The Depository Institutions Deregulation and Monetary Control Act of 1980 (often abbreviated DIDMCA or MCA) is a United States federal financial statute passed in 1980 and signed by President Jimmy Carter on March 31.
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.
In finance, a derivative is a contract that derives its value from the performance of an underlying entity.
A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.
Disposable income is total personal income minus personal current taxes.
The Dodd–Frank Wall Street Reform and Consumer Protection Act (commonly referred to as Dodd–Frank) was signed into United States federal law by US President Barack Obama on July 21, 2010.
The dot-com bubble (also known as the dot-com boom, the dot-com crash, the Y2K crash, the Y2K bubble, the tech bubble, the Internet bubble, the dot-com collapse, and the information technology bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1997 to 2001, a period of extreme growth in the usage and adaptation of the Internet.
The Dow Jones Industrial Average (DJIA), or simply the Dow, is a stock market index that shows how 30 large, publicly owned companies based in the United States have traded during a standard trading session in the stock market.
The early 1980s recession was a severe global economic recession that affected much of the developed world in the late 1970s and early 1980s.
Economic collapse is any of a broad range of bad economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death rate and perhaps even a decline in population (such as in countries of the former USSR in the 1990s).
An economic recovery is the phase of the business cycle following a recession, during which an economy regains and exceeds peak employment and output levels achieved prior to downturn.
The efficient-market hypothesis (EMH) is a theory in financial economics that states that asset prices fully reflect all available information.
The Emergency Economic Stabilization Act of 2008 (Division A of), commonly referred to as a bailout of the U.S. financial system, is a law enacted subsequently to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to $700 billion to purchase distressed assets, especially mortgage-backed securities, and supply cash directly to banks.
The Enron scandal was a financial scandal that eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world.
Eric Janzen is an economic commentator and former venture capitalist.
The euro (sign: €; code: EUR) is the official currency of the European Union.
The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the euro area, which consists of 19 EU member states and is one of the largest currency areas in the world.
The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.
Europeans for Financial Reform (EFFR) is a coalition dedicated to effecting reform in the financial and banking sectors.
Eviction is the removal of a tenant from rental property by the landlord.
Executive compensation or executive pay is composed of the financial compensation and other non-financial awards received by an executive from their firm for their service to the organization.
The role of fair value accounting in the subprime mortgage crisis of 2008 is controversial.
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.
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.
In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis.
The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide reliable liquidity to member financial institutions (not individuals) to support housing finance and community investment.
The Federal Reserve Bank of St.
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.
A fellow is a member of a group (or fellowship) that work together in pursuing mutual knowledge or practice.
Finance capitalism or financial capitalism is the subordination of processes of production to the accumulation of money profits in a financial system. Financial capitalism is thus a form of capitalism where the intermediation of saving to investment becomes a dominant function in the economy, with wider implications for the political process and social evolution. Since the late 20th century it has become the predominant force in the global economy, whether in neoliberal or other form.
The Financial Accounting Standards Board (FASB) is a private, non-profit organization standard setting body whose primary purpose is to establish and improve generally accepted accounting principles (GAAP) within the United States in the public's interest.
Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.
The Financial Crisis Inquiry Commission (FCIC) was a ten-member commission appointed by the leaders of the United States Congress with the goal of investigating the causes of the financial crisis of 2007–2010.
The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.
The Financial Crisis Responsibility Fee was a bank tax proposed by U.S. President Barack Obama in January 2010,Richard T. Page, 85 Tul. L. Rev. 191, 197-98, 205-14 (2010).
Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade".
Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming.
Financial innovation is the act of creating new financial instruments as well as new financial technologies, institutions, and markets.
Financial institutions, otherwise known as banking institutions, are corporations which provide services as intermediaries of financial markets.
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system.
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default.
The Financial Times (FT) is a Japanese-owned (since 2015), English-language international daily newspaper headquartered in London, with a special emphasis on business and economic news.
Financialization is a term sometimes used to describe the development of financial capitalism during the period from 1980 until 2010, in which debt-to-equity ratios increased and financial services accounted for an increasing share of national income relative to other sectors.
In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.
Florida (Spanish for "land of flowers") is the southernmost contiguous state in the United States.
Floyd Norris (born September 6, 1947 Los Angeles) was chief financial correspondent of The New York Times and The International Herald Tribune.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
Foreign Affairs is an American magazine of international relations and U.S. foreign policy published by the Council on Foreign Relations, a nonprofit, nonpartisan, membership organization and think tank specializing in U.S. foreign policy and international affairs.
Form 10-Q, (also known as a 10-Q or 10Q) is a quarterly report mandated by the United States federal Securities and Exchange Commission, to be filed by publicly traded corporations.
Fortis N.V./S.A. was a Belgian financial company active in insurance, banking and investment management.
Fred Harrison (born 1944) is a British author, economic commentator and corporate policy advisor, notable for his stances on land reform and belief that an over reliance on land, property and mortgage weakens economic structures and makes companies vulnerable to economic collapse.
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.
The Garn–St Germain Depository Institutions Act of 1982 (enacted October 15, 1982) is an Act of Congress that deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans.
Geir Hilmar Haarde (born 8 April 1951) is an Icelandic politician, who served as Prime Minister of Iceland from 15 June 2006 to 1 February 2009 and as President of the Nordic Council in 1995.
George Soros, Hon (Soros György,; born György Schwartz; August 12, 1930) is a Hungarian-American investor, business magnate, philanthropist, political activist and author.
The Glass–Steagall legislation describes four provisions of the U.S.A Banking Act of 1933 separating commercial and investment banking.
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing.
A global saving glut (also global savings glut, GSG, cash hoarding, dead cash, dead money, glut of excess intended saving, or shortfall of investment intentions) is a situation in which desired savingAccording to national 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).
The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City.
The Government of the United Kingdom, formally referred to as Her Majesty's Government, is the central government of the United Kingdom of Great Britain and Northern Ireland.
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress.
The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is an act of the 106th United States Congress (1999–2001).
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.
The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.
Harvard University Press (HUP) is a publishing house established on January 13, 1913, as a division of Harvard University, and focused on academic publishing.
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009.
A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques.
Henry Merritt "Hank" Paulson Jr. (born March 28, 1946) is an American banker who subsequently served as the 74th Secretary of the Treasury.
Henry Arnold Waxman (born September 12, 1939) is an American politician who served as the U.S. Representative for from 1975 until 2015.
Heterodoxy is a term that may be used in contrast with orthodoxy in schools of economic thought or methodologies, that may be beyond neoclassical economics.
The history of wikis is generally dated from 1994, when Ward Cunningham gave the name "WikiWikiWeb" to the knowledge base, which ran on his company's website at c2.com, and the wiki software that powered it.
Home equity is the market value of a homeowner's unencumbered interest in their real property, that is, the difference between the home's fair market value and the outstanding balance of all liens on the property.
Hyman Philip Minsky (September 23, 1919 – October 24, 1996) was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College.
The Hypo Real Estate Holding AG is a holding company based in Munich, Germany which comprises a number of real estate financing banks.
In mathematics an identity is an equality relation A.
Income inequality in the United States has increased significantly since the 1970s after several decades of stability, meaning the share of the nation's income received by higher income households has increased.
IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC).
Inside Job is a 2010 American documentary film, directed by Charles Ferguson, about the late-2000s financial crisis.
An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans.
The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
An investment bank is typically a private company that provides various finance-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the client's agent in the issuance of securities.
Investment management is the professional asset management of various securities (shares, bonds and other securities) and other assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors.
Jakob Brøchner Madsen (born in Randers, Denmark) is an economist, professor and former financial analyst and deputy chief economist (Bank of Jutland).
James Bennett Stewart (born c. 1952) is an American lawyer, journalist, and author.
James Burnham (November 22, 1905 – July 28, 1987) was an American philosopher and political theorist.
Janet Louise Yellen (born August 13, 1946) is an American economist.
James Earl Carter Jr. (born October 1, 1924) is an American politician who served as the 39th President of the United States from 1977 to 1981.
Johan Norberg (born 27 August 1973) is a Swedish author and historian, devoted to promoting economic globalization and what he regards as classical liberal positions.
John Bellamy Foster (born August 15, 1953) is a professor of sociology at the University of Oregon and also editor of Monthly Review.
John Clifton "Jack" Bogle (born May 8, 1929) is an American investor, business magnate, and philanthropist.
Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University.
JPMorgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City.
Kevin Price Phillips (born November 30, 1940) is an American writer and commentator on politics, economics, and history.
In economics, Kondratiev waves (also called supercycles, great surges, long waves, K-waves or the long economic cycle) are hypothesized cycle-like phenomena in the modern world economy.
Kurt Richebächer (1918 – August 24, 2007) was an international banker and economist.
Lehman Brothers Holdings Inc. (former NYSE ticker symbol LEH) was a global financial services firm.
A lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market and other facilities or sources have been exhausted.
In finance, leverage (sometimes referred to as gearing in the United Kingdom and Australia) is any technique involving the use of borrowed funds in the purchase of an asset, with the expectation that the after tax income from the asset and asset price appreciation will exceed the borrowing cost.
Libertarianism (from libertas, meaning "freedom") is a collection of political philosophies and movements that uphold liberty as a core principle.
The Library of Congress (LOC) is the research library that officially serves the United States Congress and is the de facto national library of the United States.
In financial economics, a liquidity crisis refers to an acute shortage (or "drying up") of liquidity.
A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash holding a debt which yields so low a rate of interest."Keynes, John Maynard (1936) The General Theory of Employment, Interest and Money, United Kingdom: Palgrave Macmillan, 2007 edition, A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war.
This is a list of acronyms and initialisms associated with the eurozone crisis.
The 2008 financial crisis led to the failure of a large number of banks in the United States.
This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009.
This is a list of banks in the United States affected by the financial crisis of 2007–08.
List of economic crises and depressions.
A list of companies, governmental and quasi-governmental agencies (government-sponsored enterprises), and/or non-profit organizations involved in the various economic and financial crises of 2007–2008.
This is a list of the largest U.S. bank failures with respect to total assets under management at the time of the bank failure (banks with $1.0 billion or more in assets are listed here).
Long-Term Capital Management L.P. (LTCM) was a hedge fund management firmA financial History of the United States Volume II: 1970–2001, Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage.
Los Angeles (Spanish for "The Angels";; officially: the City of Los Angeles; colloquially: by its initials L.A.) is the second-most populous city in the United States, after New York City.
Low-Income Countries Under Stress (LICUS) is a World Bank program aimed at poverty reduction in developing countries.
In the United States, mail and wire fraud is any fraudulent scheme to intentionally deprive another of property or honest services via mail or wire communication.
Mainstream economics may be used to describe the body of knowledge, theories, and models of economics, as taught across universities, that are generally accepted by economists as a basis for discussion.
Margunn Bjørnholt (born 9 October 1958 in Bø, Telemark) is a Norwegian sociologist and economist.
Mark Lewis Mendick Roeder (born 28 May 1957) is an Australian-British author and cultural commentator.
Mark-to-market (MTM or M2M) or fair value accounting refers to accounting for the "fair value" of an asset or liability based on the current market price, or for similar assets and liabilities, or based on another objectively assessed "fair" value.
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.
In economics, market saturation is a situation in which a product has become diffused (distributed) within a market; the actual level of saturation can depend on consumer purchasing power; as well as competition, prices, and technology.
Martin Harry Wolf, CBE (born 1946) is a British journalist who focuses on economics.
Med Jones is an American economist.
Merrill Lynch Wealth Management is a wealth management division of Bank of America.
In finance, mezzanine capital is any subordinated debt or preferred equity instrument that represents a claim on a company's assets which is senior only to that of the common shares.
Michael Hudson, born March 14, 1939, is an American economist, professor of economics at the University of Missouri in Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist.
Michael Monroe Lewis (born October 15, 1960) is an American non-fiction author and financial journalist.
The Milken Institute is an independent economic think tank based in Santa Monica, California.
Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
As money became a commodity, the money market became a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.
A money market fund (also called a money market mutual fund) is an open-ended mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper.
The Monthly Review, established in 1949, is an independent socialist magazine published monthly in New York City.
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name.
In economics, moral hazard occurs when someone increases their exposure to risk when insured.
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.
Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application in order to obtain a loan or to obtain a larger loan than could have been obtained had the lender or borrower known the truth.
A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.
Mortgage underwriting is the process a lender uses to determine if the risk (especially the risk that the borrower will default) of offering a mortgage loan to a particular borrower is acceptable and is a part of the larger mortgage origination process.
A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages.
Nassim Nicholas Taleb (نسيم نقولا طالب., alternatively Nessim or Nissim, born 1960) is a Lebanese–American essayist, scholar, statistician, former trader, and risk analyst, whose work focuses on problems of randomness, probability, and uncertainty.
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end dates for recessions in the United States.
The National Court is a special high court in Iceland established in 1905 to handle cases where members of the Cabinet are suspected of criminal behavior.
Beginning in 2008 many nations of the world enacted fiscal stimulus plans in response to the Great Recession.
In 2008 the Northern Rock bank was nationalised by the British Labour Government, due to financial problems caused by the subprime mortgage crisis.
Nationalization (or nationalisation) is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state.
In finance, negative amortization (also known as NegAm, deferred interest or graduated payment mortgage) occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases.
Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.
The uniform net capital rule is a rule created by the U.S. Securities and Exchange Commission ("SEC") in 1975 to regulate directly the ability of broker-dealers to meet their financial obligations to customers and other creditors.
Nick Penniman is the co-founder and CEO of Issue One, an American nonprofit organization whose mission is to strengthen American democracy and government ethics.
Nickel(II) sulfate, or just nickel sulfate, usually refers to the inorganic compound with the formula NiSO4(H2O)6.
The Nobel Memorial Prize in Economic Sciences (officially Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, or the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel), commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field.
Nomi Prins is an American author, journalist, and public speaker who writes about Wall Street and the American economy.
Northern Rock, formerly the Northern Rock Building Society, was a British bank.
The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument.
Nouriel Roubini (born March 29, 1958) is an American economist.
National Public Radio (usually shortened to NPR, stylized as npr) is an American privately and publicly funded non-profit membership media organization based in Washington, D.C. It serves as a national syndicator to a network of over 1,000 public radio stations in the United States.
The Occupy movement is an international socio-political movement against social and economic inequality and the lack of "real democracy" around the world.
The Office of Federal Housing Enterprise Oversight (OFHEO) was an agency within the Department of Housing and Urban Development of the United States of America.
The Office of Thrift Supervision (OTS) was a United States federal agency under the Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations.
This list contains selected positive numbers in increasing order, including counts of things, dimensionless quantity and probabilities.
Over-the-counter (OTC) or off-exchange trading is done directly between two parties, without the supervision of an exchange.
The Overseas Development Institute (ODI) is an independent think tank on international development and humanitarian issues, founded in 1960.
The paradox of thrift (or paradox of saving) is a paradox of economics.
Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.
Paul Adolph Volcker Jr. (born September 5, 1927) is an American economist.
The Public Broadcasting Service (PBS) is an American public broadcaster and television program distributor.
The George Foster Peabody Awards (or simply Peabody Awards) program, named for American businessman and philanthropist George Peabody, honor the most powerful, enlightening, and invigorating stories in television, radio, and online media.
Pessimism porn is a neologism coined in 2009 during the 2007–2012 global financial crisis to describe the alleged eschatological and survivalist thrill some people derive from predicting, reading and fantasizing about the collapse of civil society through the destruction of the world's economic system.
Peter J. Wallison (born June 6, 1941) is a lawyer and the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute.
Peter David Schiff (born March 23, 1963) is an American stock broker, financial commentator, and radio personality.
PIGS is an acronym used in economics and finance.
Preferred stock (also called preferred shares, preference shares or simply preferreds) is a type of stock which may have any combination of features not possessed by common stock including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument.
The principal–agent problem, in political science and economics, (also known as agency dilemma or the agency problem) occurs when one person or entity (the "agent") is able to make decisions and/or take actions on behalf of, or that impact, another person or entity: the "principal".
Private equity in the 2000s relates to one of the major periods in the history of private equity and venture capital.
Proprietary trading (also "prop trading") occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money, aka the nostro account, contrary to depositors' money, in order to make a profit for itself.
Quantitative easing (QE), also known as large-scale asset purchases, is an expansionary monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to stimulate the economy and increase liquidity.
Racial inequality in the United States refers to social advantages and disparities that affect different races within the United States.
Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and an international academic who is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
The random walk hypothesis is a financial theory stating that stock market prices evolve according to a random walk (so price changes are random) and thus cannot be predicted.
In economics and finance, the profit rate is the relative profitability of an investment project, of a capitalist enterprise, or of the capitalist economy as a whole.
Raveendra Nath "Ravi" Batra (born June 27, 1943) is an Indian-American economist, author, and professor at Southern Methodist University.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value, for real property (usually market value).
A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and typically follow a land boom.
In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.
A remittance is a transfer of money by a foreign worker to an individual in their home country.
The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary policy of the Indian rupee.
Reuters is an international news agency headquartered in London, United Kingdom.
Richard "Dick" Severin Fuld Jr. (born April 26, 1946) is an American banker best known as the final Chairman and Chief Executive Officer of Lehman Brothers.
Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
For an individual, a risk premium is the minimum amount of money by which the expected return on a risky asset must exceed the known return on a risk-free asset in order to induce an individual to hold the risky asset rather than the risk-free asset.
Robert James Shiller (born March 29, 1946) is an American Nobel Laureate, economist, academic, and best-selling author.
Robert Bernard Reich (born June 24, 1946) is an American political commentator, professor, and author.
The Royal Bank of Scotland (Banca Rìoghail na h-Alba, Ryal Bank o Scotland, Banc Brenhinol yr Alban), commonly abbreviated as RBS, is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, together with NatWest and Ulster Bank.
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings, deposits, and making mortgage and other loans.
The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995: the Federal Savings and Loan Insurance Corporation (FSLIC) closed or otherwise resolved 296 institutions from 1986 to 1989 and the Resolution Trust Corporation (RTC) closed or otherwise resolved 747 institutions from 1989 to 1995.
A second mortgage is a lien on a property which is subordinate to a more senior mortgage or loan.
The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans.
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).
A security is a tradable financial asset.
The September 11, 2001 attacks (also referred to as 9/11) were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda against the United States on the morning of Tuesday, September 11, 2001.
In September 2006, the Financial Accounting Standards Board (FASB) of the United States issued Statement of Financial Accounting Standards 157: Fair Value Measurements), which “defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements.” This statement is effective for financial reporting fiscal periods commencing after November 15, 2007 and the interim periods applicable.
The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.
The Social Science Research Council (SSRC) is a U.S.-based independent nonprofit organization dedicated to advancing research in the social sciences and related disciplines.
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.
Sony Pictures Classics (abbreviated as SPC) is an American film production and distribution company that is a division of Sony Pictures.
Standard & Poor's Financial Services LLC (S&P) is an American financial services company.
Steve Keen (born 28 March 1953) is an Australian economist and author.
A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.
The magazine Strategische Unternehmensführung (English: Strategic Management or Strategic Leadership) was established in 1998.
A structured investment vehicle (SIV) is a non-bank financial institution established to earn a credit spread between the longer-term assets held in its portfolio and the shorter-term liabilities it issues.
The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008.
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) means making loans to people who may have difficulty maintaining the repayment schedule, sometimes reflecting setbacks, such as unemployment, divorce, medical emergencies, etc.
A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
The franc (sign: Fr. or SFr.; Franken, French and Romansh: franc, franco; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia.
A synthetic CDO (collateralized debt obligation) is a variation of a CDO that generally uses credit default swaps and other derivatives to obtain its investment goals.
The TED spread is the difference between the interest rates on interbank loans and on short-term U.S. government debt ("T-bills").
The Big Mo ("Big Momentum") is behavioral momentum that operates on a large scale.
The Big Short: Inside the Doomsday Machine is a non-fiction book by Michael Lewis about the build-up of the United States housing bubble during the 2000s.
The Big Short is a 2015 American biographical comedy-drama film directed by Adam McKay and written by McKay and Charles Randolph, based on the 2010 book The Big Short: Inside the Doomsday Machine by Michael Lewis about the financial crisis of 2007–2008 which was triggered by the United States housing bubble.
The Black Swan: The Impact of the Highly Improbable is a book by the essayist, scholar, philosopher, and statistician Nassim Nicholas Taleb, released April 17, 2007 by Random House.
The Chicago Plan Revisited is an International Monetary Fund (IMF) report from 2012 by Jaromir Benes and Michael Kumhof.
The Downfall of Capitalism and Communism is a book by Ravi Batra in the field of historical evolution, first published in 1978.
The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.
The Guardian is a British daily newspaper.
The New York Times (sometimes abbreviated as The NYT or The Times) is an American newspaper based in New York City with worldwide influence and readership.
The New Yorker is an American magazine of reportage, commentary, criticism, essays, fiction, satire, cartoons, and poetry.
The Real News Network (TRNN) is a nonprofit news organization.
The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City.
TheStreet, Inc. is an American financial news and services website founded by Jim Cramer and Martin Peretz.
Thomson Reuters Corporation is a Canadian multinational mass media and information firm.
Time is an American weekly news magazine and news website published in New York City.
Timothy Franz Geithner (born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013.
The "too big to fail" theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and that they therefore must be supported by government when they face potential failure.
Toxic asset is a popular term for certain financial assets whose value has fallen significantly and for which there is no longer a functioning market, so that such assets cannot be sold at a price satisfactory to the holder.
In structured finance, a tranche is one of a number of related securities offered as part of the same transaction.
A transaction account, checking account, current account, demand deposit account, or share draft account (at credit unions) is a deposit account held at a bank or other financial institution.
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was signed into law by President George W. Bush on October 3, 2008.
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government.
UBS Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland.
The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.
The United States Census is a decennial census mandated by Article I, Section 2 of the United States Constitution, which states: "Representatives and direct Taxes shall be apportioned among the several States...
The Joint Economic Committee (JEC) is one of four standing joint committees of the U.S. Congress.
The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government.
The Committee on Oversight and Government Reform is a United States House of Representatives committee that has existed in varying forms since 1816.
The United States housing bubble was a real estate bubble affecting over half of the U.S. states.
The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency) has jurisdiction over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts.
The Permanent Subcommittee on Investigations (PSI), stood up in March 1941 as the "Truman Committee," is the oldest subcommittee of the United States Senate Committee on Homeland Security and Governmental Affairs (formerly the Committee on Government Operations).
A United States Treasury security is an IOU from the US Government.
Sir John Vincent Cable (born 9 May 1943) is a British politician serving as Leader of the Liberal Democrats and Member of Parliament for Twickenham since 2017.
The Volcker Rule refers to part of the Dodd–Frank Wall Street Reform and Consumer Protection Act, originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers.
Wachovia (former NYSE ticker symbol WB) was a diversified financial services company based in Charlotte, North Carolina.
Wall Street and the Financial Crisis: Anatomy of a Financial Collapse is a report on the financial crisis of 2007–2008 issued on April 13, 2011 by the United States Senate Permanent Subcommittee on Investigations.
The Wall Street Crash of 1929, also known as Black Tuesday (October 29), the Great Crash, or the Stock Market Crash of 1929, began on October 24, 1929 ("Black Thursday"), and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects.
Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist who serves as the chairman and CEO of Berkshire Hathaway.
Washington Mutual, Inc., abbreviated to WaMu, was a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association until its collapse in 2008.
The Wharton School of the University of Pennsylvania (also known as The Wharton School or Wharton) is the business school of the University of Pennsylvania, a private Ivy League university in Philadelphia, Pennsylvania.
William Harold Greider (born August 6, 1936) is an American journalist and author who writes primarily about economics.
Wired is a monthly American magazine, published in print and online editions, that focuses on how emerging technologies affect culture, the economy, and politics.
The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631, signed on March 18, 1988, by United States President Ronald Reagan.
Wynne Godley (2 September 192613 May 2010) was an economist famous for his pessimism toward the British economy and his criticism of the British government.
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
The Russian financial crisis (also called Ruble crisis or the Russian Flu) hit Russia on 17 August 1998.
The 2008 Greek riots started on 6 December 2008, when Alexandros Grigoropoulos (Αλέξανδρος Γρηγορόπουλος), a 15-year-old Greek student, was killed by two special officers in Exarcheia district of central Athens.
A bank rescue package totalling some £500 billion (approximately $850 billion) was announced by the British government on 8 October 2008, as a response to the ongoing global financial crisis.
Following the global financial crisis of 2007–08, there was a worldwide resurgence of interest in Keynesian economics among prominent economists and policy makers.
The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom.
The 2009 G20 London summit protests occurred in the days around the 2 April 2009 G20 London summit.
The 2009–2011 Icelandic financial crisis protests, also referred to as the Kitchenware/Kitchen Implement or Pots and Pans Revolution (Icelandic: Búsáhaldabyltingin), occurred in the wake of the Icelandic financial crisis.
The 2009 May Day protests were a series of international protests that took place across Europe, Asia and in the other parts of the world over the current global economic crisis.
The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders.
The 2012 May Day protests were a series of international protests that took place worldwide on 1 May 2012 over the then ongoing global economic crisis.
The 83rd Academy Awards ceremony, organized by the Academy of Motion Picture Arts and Sciences (AMPAS), honored the best films of 2010 in the United States and took place on February 27, 2011, at the Kodak Theatre in Hollywood, Los Angeles beginning at 5:30 p.m. PST (8:30 p.m. EST).
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