...Enablers of Exuberance Jennifer S. Taub Sept. 4, 2009 DISCUSSION DRAFT Enablers of Exuberance: Legal Acts and Omissions that Facilitated the Global Financial Crisis Jennifer S. Taub1 I. Introduction This paper explores certain legal acts and omissions that facilitated the over-leveraging and near collapse of the global financial system. These ―Legal Enablers‖ fostered the boom that enriched a class of financial intermediaries who followed a storied tradition of gambling away ―other people‘s money.‖2 These mechanisms also made the pain of the bust disproportionately felt by the middle class and poor while shielding the middlemen who created the problems. These legal Enablers permitted the growth of a shadow banking system, without investment limits, transparency or government oversight. In the shadows grew a variety of highly leveraged private investment pools, undercapitalized conduits of securitized loans and speculation in complex credit derivatives. The rationale for allowing this unregulated, parallel system was that it helped to create innovation and provide liquidity. The conventional wisdom was that any risks associated with a hands-off approach could be managed by the ―invisible hand‖3 of the market. In other words, instead of public police, it relied upon private gatekeepers. A legal framework including legislation, rules and court decisions supported this system. This legal structure depended upon corporate managers, counterparties, ―sophisticated investors‖ and the...
Words: 54952 - Pages: 220
...Copyright © 2013 by William A. Cohen. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. ISBN: 978-0-07-177863-3 MHID: 0-07-177863-2 The material in this eBook also appears in the print version of this title: ISBN: 978-0-07177862-6, MHID: 0-07-177862-4. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. To contact a representative please e-mail us at bulksales@mcgraw-hill.com. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute,...
Words: 87486 - Pages: 350
...SECRET LANGUAGE of • HOW LEADERS INSPIRE ACTION THROUGH NARRATIVE The LEADERSHIP STEPHEN DENNING John Wiley & Sons, Inc. More Praise for The Secret Language of Leadership “Out of the morass of strategies leaders are given to transform organizations, Denning plucks a powerful one—storytelling— and shows how and why it works.” —Dorothy Leonard, William J. Abernathy Professor of Business, Emerita, Harvard Business School, and author, Deep Smarts: How to Cultivate and Transfer Enduring Business Wisdom “The Secret Language of Leadership shows why narrative intelligence is central to transformational leadership and how to harness its power.” —Carol Pearson, director, James MacGregor Burns Academy of Leadership, University of Maryland, and coauthor, The Hero and the Outlaw “The Secret Language of Leadership is not only the best analysis I have seen of how and why leaders succeed or fail, it’s highly readable, as well as downright practical. It should be mandatory reading for anyone interested in engaging a company with big ideas who understands that leaders live and die by the quality of what they say.” —Richard Stone, story analytics master, i.d.e.a.s “A primary role of leaders is to create and maintain meaning for their organizations. Denning clearly demonstrates that meaningmaking comes from stories well told.” —Thomas Davenport, President’s Distinguished Professor of I.T. and Management, Babson College, and author, The Attention Economy “Steve...
Words: 100587 - Pages: 403
...OTHER BOOKS BY D. A. BENTON Lions Don’t Need to Roar How to Think Like a CEO The $100,000 Club Secrets of a CEO Coach HOW TO ACT LIKE A 10 Rules for Getting to the Top and Staying There CEO M C G R AW- H I L L SAN FRANCISCO LISBON WA S H I N G T O N , D. C . MADRID AU C K L A N D D. A. BENTON N E W YO R K B O G OT Á MILAN C A R AC A S LONDON NEW DELHI MEXICO CITY SINGAPORE MONTREAL S A N J UA N SYDNEY T O K YO TO RO N TO McGraw-Hill abc Copyright © 2001 by Debra A. Benton. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-137459-0 The material in this eBook also appears in the print version of this title: 0-07-135998-2. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales...
Words: 58501 - Pages: 235
...Contents Title Page Dedication Prologue CHAPTER ONE: Republicans and Democrats CHAPTER TWO: Values CHAPTER THREE: Our Constitution CHAPTER FOUR: Politics CHAPTER FIVE: Opportunity CHAPTER SIX: Faith CHAPTER SEVEN: Race CHAPTER EIGHT: The World Beyond Our Borders CHAPTER NINE: Family Epilogue Acknowledgments About the Author Also by Barack Obama Copyright Prologue IT’S BEEN ALMOST ten years since I first ran for political office. I was thirty-five at the time, four years out of law school, recently married, and generally impatient with life. A seat in the Illinois legislature had opened up, and several friends suggested that I run, thinking that my work as a civil rights lawyer, and contacts from my days as a community organizer, would make me a viable candidate. After discussing it with my wife, I entered the race and proceeded to do what every first-time candidate does: I talked to anyone who would listen. I went to block club meetings and church socials, beauty shops and barbershops. If two guys were standing on a corner, I would cross the street to hand them campaign literature. And everywhere I went, I’d get some version of the same two questions. “Where’d you get that funny name?” And then: “You seem like a nice enough guy. Why do you want to go into something dirty and nasty like politics?” I was familiar with the question, a variant on the questions asked of me years earlier, when I’d first arrived in Chicago to work in low-income neighborhoods. It signaled a cynicism...
Words: 120305 - Pages: 482
...CALIFORNIA CALIFORNIA An Interpretive History TENTH EDITION James J. Rawls Instructor of History Diablo Valley College Walton Bean Late Professor of History University of California, Berkeley TM TM CALIFORNIA: AN INTERPRETIVE HISTORY, TENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008, 2003, and 1998. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1234567890 QFR/QFR 10987654321 ISBN: 978-0-07-340696-1 MHID: 0-07-340696-1 Vice President & Editor-in-Chief: Michael Ryan Vice President EDP/Central Publishing Services: Kimberly Meriwether David Publisher: Christopher Freitag Sponsoring Editor: Matthew Busbridge Executive Marketing Manager: Pamela S. Cooper Editorial Coordinator: Nikki Weissman Project Manager: Erin Melloy Design Coordinator: Margarite Reynolds Cover Designer: Carole Lawson Cover Image: Albert Bierstadt, American (born...
Words: 248535 - Pages: 995
...A BRIEF CONTENTS PART 1 • GETTING STARTED 1. Becoming a Public Speaker 2. From A to Z: Overview of a Speech 3. Managing Speech Anxiety 4. Ethical Public Speaking 5. Listeners and Speakers 1 2 8 1 4 23 30 PART 2 • DEVELOPMENT 6. Analyzing the Audience 7. Selecting a Topic and Purpose 8. Developing Supporting Material 9. Locating Supporting Material 10. Doing Effective Internet Research 1 Citing Sources in Your Speech 1. 36 37 49 57 64 73 83 PART 3 • ORGANIZATION 1 Organizing the Speech 2. 1 Selecting an Organizational Pattern 3. 1 Outlining the Speech 4. 92 93 103 1 10 PART 4 • STARTING, FINISHING, AND STYLING 15. Developing the Introduction and Conclusion 16. Using Language 1 22 1 23 1 31 PART 5 • DELIVERY 1 Choosing a Method of Delivery 7. 18. Controlling the Voice 19. Using the Body 1 39 1 40 1 44 1 48 PART 6 • PRESENTATION AIDS 20. Types of Presentation Aids 21. Designing Presentation Aids 22. A Brief Guide to Microsoft PowerPoint 154 155 161 164 PART 7 • TYPES OF SPEECHES 23. Informative Speaking 24. Persuasive Speaking 25. Speaking on Special Occasions 1 74 1 75 188 21 7 PART 8 • THE CLASSROOM AND BEYOND 230 26. Typical Classroom Presentation Formats 27. Science and Mathematics Courses 28. Technical Courses 29. Social Science Courses 30. Arts and Humanities Courses 31. Education Courses 32. Nursing and Allied Health Courses 33. Business Courses and Business Presentations 34. Presenting in Teams 35. Communicating in Groups 231 236 240 243 246 248 25 1 253 258...
Words: 104318 - Pages: 418
...62118 0/nm 1/n1 2/nm 3/nm 4/nm 5/nm 6/nm 7/nm 8/nm 9/nm 1990s 0th/pt 1st/p 1th/tc 2nd/p 2th/tc 3rd/p 3th/tc 4th/pt 5th/pt 6th/pt 7th/pt 8th/pt 9th/pt 0s/pt a A AA AAA Aachen/M aardvark/SM Aaren/M Aarhus/M Aarika/M Aaron/M AB aback abacus/SM abaft Abagael/M Abagail/M abalone/SM abandoner/M abandon/LGDRS abandonment/SM abase/LGDSR abasement/S abaser/M abashed/UY abashment/MS abash/SDLG abate/DSRLG abated/U abatement/MS abater/M abattoir/SM Abba/M Abbe/M abbé/S abbess/SM Abbey/M abbey/MS Abbie/M Abbi/M Abbot/M abbot/MS Abbott/M abbr abbrev abbreviated/UA abbreviates/A abbreviate/XDSNG abbreviating/A abbreviation/M Abbye/M Abby/M ABC/M Abdel/M abdicate/NGDSX abdication/M abdomen/SM abdominal/YS abduct/DGS abduction/SM abductor/SM Abdul/M ab/DY abeam Abelard/M Abel/M Abelson/M Abe/M Aberdeen/M Abernathy/M aberrant/YS aberrational aberration/SM abet/S abetted abetting abettor/SM Abeu/M abeyance/MS abeyant Abey/M abhorred abhorrence/MS abhorrent/Y abhorrer/M abhorring abhor/S abidance/MS abide/JGSR abider/M abiding/Y Abidjan/M Abie/M Abigael/M Abigail/M Abigale/M Abilene/M ability/IMES abjection/MS abjectness/SM abject/SGPDY abjuration/SM abjuratory abjurer/M abjure/ZGSRD ablate/VGNSDX ablation/M ablative/SY ablaze abler/E ables/E ablest able/U abloom ablution/MS Ab/M ABM/S abnegate/NGSDX abnegation/M Abner/M abnormality/SM abnormal/SY aboard ...
Words: 113589 - Pages: 455
