Legislative Proposals to Modernize Business Development Companies and Expand Investment Opportunities, Testimony Before the House Subcommittee on Capital Markets and Government Sponsored Enterprises

This testimony discusses proposed legislation to amend the definition of accredited investor. It also discusses proposed legislation designed to reform the regulatory framework for business development companies. Among other things, the regulatory regime for BDCs would change to allow these companies to invest a greater portion of their assets in financial companies, potentially reducing the percentage of assets invested in operating companies.

Government-sponsored enterprises and their implicit federal subsidy : the case of Sallie Mae.

"December 1985"--Cover.

Government-sponsored enterprises : the government's exposure to risks /

Financial review of: Farm Credit Banks, Banks for Cooperatives, Federal Home Loan Banks, National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corp. (Freddie Mac), Student Loan Marketing Association (Sallie Mae), College Construction Loan Insurance Corp. (Connie Lee), and Federal Agriculture Mortgage Corp. (Farmer Mac).

Federal housing enterprises : HUD's mission oversight needs to be strengthened : report to the Chairman, Subcommittee on Capital Markets, Securities, and Government Sponsored Enterprises, Committee on Banking and Financial Services, House of Representatives /

"B-278383"--P. 1.

Three Essays in Empirical Asset Pricing

The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally assumed to be promptly removed via the actions of profit seeking arbitrageurs. These extreme events motivate the three essays in this work. The first essay seeks and fails to find evidence of investor behavior consistent with the broad 'Too Big To Fail' policies enacted during the crisis by government agents. Only in limited circumstances, where government guarantees such as deposit insurance or U.S. Treasury lending lines already existed, did investors impart a premium to the debt security prices of firms under stress. The second essay introduces the Inflation Indexed Swap Basis (IIS Basis) in examining the large differences between cash and derivative markets based upon future U.S. inflation as measured by the Consumer Price Index (CPI). It reports the consistent positive value of this measure as well as the very large positive values it reached in the fourth quarter of 2008 after Lehman Brothers went bankrupt. It concludes that the IIS Basis continues to exist due to limitations in market liquidity and hedging alternatives. The third essay explores the methodology of performing debt based event studies utilizing credit default swaps (CDS). It provides practical implementation advice to researchers to address limited source data and/or small target firm sample size.

Government Influence and the Failure of Fannie Mae and Freddie Mac

In 2008 two government-sponsored enterprises, Fannie Mae and Freddie Mac, were placed into conservatorship due to insolvency. The financial bailout of the two publically traded corporations came at the expense of the American tax payer. This study investigates the relationship between direct and indirect government influence and the increasing risk taking of Fannie Mae and Freddie Mac from the late 1990’s through their conservatorship in 2008. As government-sponsored enterprises Fannie Mae and Freddie Mac have many special advantages that other publically traded companies did not possess. These advantages allowed Fannie Mae and Freddie Mac to increase their profitability. Theoretical literature regarding Congress and the bureaucracy suggests that the actions of bureaucrats can be linked to the preferences of Congressional members because bureaucrats are responsive to potential threats or perceived threats from the legislature. This theory is applicable to Fannie Mae and Freddie Mac, and is used to explain why the government was able to directly and indirectly influence the government-sponsored enterprises. Overall this investigation has determined that the United States government pursued a clear mission that determined to increase the availability of housing to all Americans, specifically to low-income and under-served individuals, through the use of the government-sponsored enterprises. Despite this link there is no conclusive data to show that the pursuit of this housing mission led Fannie Mae and Freddie Mac to operate in riskier business segments. This study has also found that motivation regarding profit-seeking and compensation structure provide a more plausible explanation for why the government-sponsored enterprises began to engage in riskier business practices that led to their insolvency.

Implications of Government Sponsored Social Security and Welfare Schemes on Socioeconomic Status of Small Scale Marine Fisherfolk in Kerala

A socio-economic research is required as an attempt to address the socio-economic issues facing small-scale fisheries. A study of the socio economic conditions of small-scale fishermen is a prerequisite for good design and successful implementation of effective assistance Programmes. It will provide an overall pidure of the structure, activities and standards of living of small-scale fisherfolk The study is confined to the coastal districts of Ernakulam, Thrissur and Malappuram districts. It also gives a picture of socio-economic conditions of the fisher folk in the study area. The variables that may depict the standard of living of the small-scale fisherfolk are occupational structure, family size, age structure, income, expenditure, education, housing and other social amenities. It attempts to see the asset creation of the fisherfolk with the help of government agencies, and the nature of savings and expenditure pattern of the fisherfolk. It also provides a picture of the indebtedness of the fisherfolk in the study area. The study analyses the schemes implemented by the government through its agencies, like Fisheries Department, Matsyaboard, and Matsyafed; and the awareness of fisherfolk regarding these schemes, their attitude and reactions, the extent of accessibility, and the viability of the schemes.

Libya, 1969-1989, an American perspective : a guide to U.S. official documents and government-sponsored publications /

Includes index.

Government sponsorship of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

"July 11, 1996."

Revolving funds and business enterprises of the Government,

On cover: Task force report on revolving funds and business enterprises of the Government, Appendix J. An appendix to a report by the Commission on Organization of the Executive Branch of the Government with title: Reorganization of Federal business enterprises; a report to the Congress, March 1949.

The origins of federal public enterprises in Canada: an appraisal of two approaches

The Green Party of Canada, as a vital aspect of the Canadian green movement, and its connection to international green organizations can be examined primarily through the examp l es of both the Canadian Greens and the Green party of Ontario , by using original party documents and literature, information gained through Green party meetings and discussions with members, and commentary by Green theorists where app licable. As well, the influence on the Canadian green movement by the German Green Party is out lined , again mainly through party literature, documents and critiques of the party's experiences. This study reveals several existing and potential problems fo r t he Green Party in Canada, and the political fut ure of the Canadian green movement in general. Some, such as the real i ties of the Canadian political system are external to the movement, and may be overcome with adjustments in goals and methods, and a realization of the changing attitude towards environmental issues in a political context . On the other hand, internal party disfunctions in both organization and direction, caused mainly by the indefinite parameters of green ideology, threaten to expl oi t t he al ready problematic aspects evident in t he Green Party . Aside from its somewhat slow beginnings, the Green Party in Canada has developed into a strong grassroots social movement, not however from its political visibility but from the steady growth in the popul ari ty of ecological pol i t ics in Canada . Due to the seeming enormity of the obstacles facing the Greens in their effort 4 to achieve electoral success, it is doubtful that Parliamentary representation will be achieved without a major re-orientation of party organization and methods. UI timately the strength of the Green Party in Canada will be based upon its ability to survive as a significant movement, and its willingness to continue to challenge political thought and practice.

Myanmar's two decades of partial transition to a market economy : a negative legacy for the new government

Despite more than two decades of transition from a centrally planned to a market-oriented economy, Myanmar’s economic transition is still only partly complete. The government’s initial strategy for dealing with the swelling deficits of the state economic enterprises (SEEs) was to put them under direct control in order to scrutinize their expenditures. This policy change postponed restructuring and exacerbated the soft budget constraint problem of the SEEs. While the installation of a new government in March 2011 has increased prospects for economic development, sustainable growth still requires full-scale structural reform of the SEEs and institutional infrastructure building. Myanmar can learn from the gradual approaches to economic transition in China and Vietnam, where partial reforms weakened further impetus for reforms.

Portfolios, departments and agencies : tinkering with the machinery-of-government map

Indigenous knowledge and effective parent / school partnerships : insights and issues from 4 school case studies

Towards the last decade of the last millennium, Indigenous knowledge has been central to scholarly debates relating to decolonising knowledge on a global level. Much of these debates were advanced by Indigenous scholars in colonised countries particularly Australia, New Zealand, Canada and the United States. Indigenous scholars argue for the location of Indigenous knowledge as the epistemological standpoint (Battiste, Bell and Findlay, 2002; Kai’a, 2005; Nakata 2002, 2007) for intellectual engagements and methodology for resisting colonial constructions of the colonised other (Rigney, 1997; Smith, 1999, 2005). However, the challenge to engage Indigenous knowledge to inform research and educational processes, in many respects, is still a contested debate in western-oriented universities and institutions of higher education. The place of Indigenous knowledge in Australian secondary and primary schools remains vague, while efforts to embed Indigenous perspectives in the curriculum continue to be made by both government and private educational providers. Educational funding for Indigenous education continues to operate from a ‘deficiency’ model, whereby educational outcomes are often measured against set criteria, reflecting a pass/fail structure, than a more comprehensive investigation of educational outcomes and quality of learning experiences. Teacher knowledge, effective parental and community engagement into students’ learning and students’ experiences of schooling continue to be secondary to students’ final results. This paper presents preliminary findings of Parent School Partnership Initiative (PSPI) project conducted by the Oodgeroo Unit at the Queensland University of Technology in partnerships with the Aboriginal and Torres Strait Islander Education Focus Group for the Caboolture Shire, in South East Queensland. The state government sponsored initiative was to examine factors that promote and enhance parent/school engagement with their students’ schooling, and to contribute to Aboriginal and Torres Strait Islander students’ learning and completion of secondary schooling within the participating schools in a more holistic way. We present four school case studies and discuss some of the early findings. We conclude by arguing the importance of the recognition of Indigenous knowledge and its place in enhancing parent – schools partnerships.