deception and abuse at the fed henry b gonzalez battles alan greenspan s bank

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Deception And Abuse At The Fed

Author : Robert D. Auerbach
ISBN : 9780292782808
Genre : Political Science
File Size : 26. 87 MB
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The Federal Reserve—the central bank of the United States—is the most powerful peacetime bureaucracy in the federal government. Under the chairmanship of Alan Greenspan (1987-2006), the Fed achieved near mythical status for its part in managing the economy, and Greenspan was lauded as a genius. Few seemed to notice or care that Fed officials operated secretly with almost no public accountability. There was a courageous exception to this lack of oversight, however: Henry B. Gonzalez (D-TX)—chairman of the U.S. House of Representatives Financial Services (banking) Committee. In Deception and Abuse at the Fed, Robert Auerbach, a former banking committee investigator, recounts major instances of Fed mismanagement and abuse of power that were exposed by Rep. Gonzalez, including: Blocking Congress and the public from holding powerful Fed officials accountable by falsely declaring—for 17 years—it had no transcripts of its meetings; Manipulating the stock and bond markets in 1994 under cover of a preemptive strike against inflation; Allowing $5.5 billion to be sent to Saddam Hussein from a small Atlanta branch of a foreign bank—the result of faulty bank examination practices by the Fed; Stonewalling Congressional investigations and misleading the Washington Post about the $6,300 found on the Watergate burglars. Auerbach provides documentation of these and other abuses at the Fed, which confirms Rep. Gonzalez's belief that no government agency should be allowed to operate with the secrecy and independence in which the Federal Reserve has shrouded itself. Auerbach concludes with recommendations for specific, broad-ranging reforms that will make the Fed accountable to the government and the people of the United States.

Henry B Gonzalez

Author : Brenda Haugen
ISBN : 075651858X
Genre : Juvenile Nonfiction
File Size : 60. 28 MB
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Presents the life and accomplishments of the Texas Congressman who worked hard to fight homelessness, clean up the savings and loan industry, and hold presidents accountable for their actions.

Symposium Issue

Author : Chapman University. School of Law
ISBN : STANFORD:36105063786425
Genre : Political Science
File Size : 50. 52 MB
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H R 1207 The Federal Reserve Transparency Act Of 2009

Author :
ISBN : UOM:39015090417901
Genre : Administrative agencies
File Size : 51. 94 MB
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Author :
ISBN : UCSC:32106017987774
Genre : Best books
File Size : 38. 17 MB
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Tales For Little Rebels

Author : Philip Nel
ISBN : 9780814757208
Genre : Literary Collections
File Size : 86. 4 MB
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Presents a collection of twentieth-century American leftist children's literature, including contributions from such well-known writers as Dr. Seuss and Julius Lester, and many from less familiar figures.

Liberty S Surest Guardian

Author : Jeremi Suri
ISBN : 9781439141700
Genre : Political Science
File Size : 87. 61 MB
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Americans are a nation-building people, and in Liberty’s Surest Guardian, Jeremi Suri—Nobel Fellow and leading light in the next generation of policy makers—looks to America’s history to see both what it has to offer failed states around the world and what it should avoid. Far from being cold imperialists, Americans have earnestly attempted to export their invention of representative government. We have had successes (Reconstruction after the American Civil War, the Philippines, Western Europe) and failures (Vietnam), and we can learn a good deal from both. Nation-building is in America’s DNA. It dates back to the days of the American Revolution, when the founding fathers invented the concept of popular sovereignty—the idea that you cannot have a national government without a collective will. The framers of the Constitution initiated a policy of cautious nation-building, hoping not to conquer other countries, but to build a world of stable, self-governed societies that would support America’s way of life. Yetno other country has created more problems for itself and for others by intervening in distant lands and pursuing impractical changes. Nation-building can work only when local citizens “own it,” and do not feel it is forced upon them. There is no one way to spread this idea successfully, but Suri has mined more than two hundred years of American policy in order to explain the five “P”s of nation-building: PARTNERS: Nation-building always requires partners; there must be communication between people on the ground and people in distant government offices. PROCESS: Human societies do not follow formulas. Nation-building is a process which does not produce clear, quick results. PROBLEM-SOLVING: Leadership must start small, addressing basic problems. Public trust during a period of occupation emerges from the fulfillment of basic needs. PURPOSE: Small beginnings must serve larger purposes. Citizens must see the value in what they’re doing. PEOPLE: Nation-building is about people. Large forces do not move history. People move history. Our actions in Iraq, Afghanistan, and Libya will have a dramatic impact on international stability. Jeremi Suri, provocative historian and one of Smithsonian magazine’s “Top Young Innovators,” takes on the idea of American exceptionalism and turns it into a playbook for President Obama over the next, vital few years.

Quest For Equality

Author : Neil Foley
ISBN : 0674050231
Genre : History
File Size : 36. 27 MB
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Neil Foley examines the complex interplay among regional, national, and international politics that plagued the efforts of Mexican Americans and African Americans to find common ground in ending employment discrimination and school segregation.


Author : Edin Mujagic
ISBN : 9789460035869
Genre : Business & Economics
File Size : 74. 39 MB
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Dat het leven elk jaar duurder wordt, is voor ons net zo vanzelfsprekend als het feit dat de zon elke ochtend opkomt in het oosten. Maar dat de prijzen almaar stijgen, is een gegeven van de afgelopen eeuw. In alle eeuwen daarvoor zag de economie er heel anders uit. Wat in 1450 een gulden kostte, was honderden jaren later nog nagenoeg even duur. Van inflatie was geen sprake. Als de prijzen tijdelijk omhoog gingen, daalden ze daarna weer even hard. De koopkracht veranderde nauwelijks. Dat veranderde drastisch rond 1900. Toen begonnen de prijzen ongekend hard te stijgen. De sporadische prijsdaling die nog voorkwam, was miniem, en dat gold niet alleen voor Nederland, dat gold voor de hele wereld. Wat is er een eeuw geleden gebeurd waardoor alles sindsdien elk jaar duurder wordt? Op basis van historische gegevens, cijfers over prijsontwikkeling en economische analyse toont Edin Mujagic onomwonden aan dat de geboorte van de centrale banken de doodsteek is geweest voor de waarde van ons geld. Niet alleen holden deze banken de afgelopen eeuw de koopkracht van ons geld uit - een proces dat nog altijd doorgaat, de laatste tijd zelfs harder dan ooit, maar daardoor riepen ze ook ander onheil over ons af, waaronder de huidige economische crisis. Econoom Mujagic laat niet alleen overtuigend zien wat de (systematisch onderschatte) rol van de centrale banken in de wereldeconomie is geweest, hij waarschuwt ook voor de wereld van morgen.

All The Devils Are Here

Author : Bethany McLean
ISBN : 9781101551059
Genre : Business & Economics
File Size : 71. 22 MB
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"Hell is empty, and all the devils are here." -Shakespeare, The Tempest As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Among the devils you'll meet in vivid detail: • Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending. • Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices. • Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried. • Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants. • Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line. • Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission. • Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity. • Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.

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