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Jamaica: Finsac Blanket Guarantee, 1997, Ayodeji George

Journal of Financial Crises

After a period of sustained distress in the early 1990s, Jamaican financial institutions faced significant liquidity issues by 1996, evidenced by runs on banks by depositors. The government responded by creating the Financial Sector Adjustment Company (FINSAC) on January 29, 1997, to rehabilitate weak financial institutions and administer a blanket guarantee on financial sector liabilities. The blanket guarantee covered all deposit-taking financial institutions, life insurance policy providers, and pension funds registered under the Banking Act, Financial Institutions Act, and Insurance Act. Within eligible institutions, the blanket guarantee covered depositors’ funds in licensed deposit-taking institutions, pension funds managed by authorized institutions, …

Indonesia: Blanket Guarantee, 1998, Ayodeji George

Journal of Financial Crises

The Indonesian government closed 16 banks on November 1, 1997. At the time, the government said it would guarantee depositors up to 20 million Indonesian rupiah (IDR; USD 6,000) per account. The lack of immediate full protection for large depositors caused deposit runs throughout the banking sector and undermined foreign confidence in the Indonesian financial system. In response, the Indonesian president on January 26, 1998, announced a blanket guarantee and created the Indonesian Bank Restructuring Agency (IBRA) to administer the guarantee and other bank rehabilitation efforts. The blanket guarantee covered all depositors and nonsubordinated creditors in locally incorporated commercial banks. …

Ecuador: Blanket Guarantee, 1998, Bailey Decker

Journal of Financial Crises

After a series of exogenous shocks hit the Ecuadorian economy in 1997–1998, foreign creditors reassessed their emerging-market risk and reduced external credit lines to Ecuador, thus draining liquidity. The closure of a small bank called Solbanco in April 1998 triggered deposit runs at other banks. Banks sought assistance from the Central Bank of Ecuador (Banco Central del Ecuador, or BCE). By the end of September 1998, the BCE had issued emergency loans to 11 financial institutions, totaling nearly 30% of the money base. The crisis accelerated in August 1998 when Banco de Prestamos, the sixth-largest bank, was closed; the existing …

Finland: Government Guarantee Fund, Blanket Guarantee, 1992, Anmol Makhija

Journal of Financial Crises

Following a period of rapid financial liberalization and a record credit boom in the 1980s, Finland’s financial system suffered steadily increasing loan losses and falling earnings beginning in 1990. The Finnish Parliament created the Government Guarantee Fund (GGF) in April 1992 to support banks with loans, capital, and guarantees. In a press release issued on August 6, 1992, the government said the GGF would “secure the stable functioning of the banking system under any circumstances [emphasis added]”. Six months later, the Parliament of Finland specifically required the GGF to guarantee that all Finnish banks could meet their commitments. The government …

Denmark: General Guarantee Scheme, 2008, Benjamin Hoffner

Journal of Financial Crises

As foreign credit in Denmark dried up during the summer of 2008, Danish banks became increasingly reliant on short-term borrowing. The government took over the failing Roskilde Bank, the country’s eighth-largest bank, in late August. On October 5, 2008, the government announced a voluntary General Guarantee Scheme to fully insure deposits and other senior liabilities of participating banks. Banks could participate in the scheme by becoming members of the financial sector’s banking consortium, Det Private Beredskab, or in English, the Private Contingency Association (PCA), before October 13, 2008. The General Guarantee Scheme fully insured all depositors and senior unsecured creditors …

Reserve Requirements Survey, June Rhee, Carey K. Mott, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

Banks have a private motive to hold some level of cash and liquid reserves, but the negative externalities of bank runs create a public interest in setting a regulatory level higher than the privately optimal level. We can think of such reserve requirements (RRs) as the original form of liquidity regulation. In this paper, we focus on 14 cases in which central banks adjusted RRs after crises hit, typically to deal with liquidity shortages in the banking system. We observe that RR adjustments have several advantages in a crisis: (1) such changes require little process, and the change for banks …

Blanket Guarantees Survey, Christian M. Mcnamara, Carey K. Mott, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 10 blanket guarantee (BG) programs across 13 Key Design Decisions. The defining characteristics of these programs in terms of their inclusion in our BG series are (a) that they guaranteed a broader range of liabilities beyond deposit accounts and (b) that the guarantees covered existing liabilities in addition to newly issued ones. Each case represents an effort to eliminate creditors’ incentive to withdraw funding from institutions by guaranteeing that the funding will be paid back even if the institutions are unable to do so themselves. The main themes that emerge are: (a) the inability of blanket guarantees …

Fire Sales, The Lolr, And Bank Runs With Continuous Asset Liquidity, Ulrich Bindseil, Edoardo Lanari

Journal of Financial Crises

Banks’ asset fire sales and recourse to central bank credit are modeled with continuous asset liquidity, allowing us to derive the liability structure of a bank. Both asset sales liquidity and the central bank collateral framework are modeled as power functions within the unit interval. Funding stability is captured as a strategic bank run game in pure strategies between depositors. Fire sale liquidity and the central bank collateral framework determine jointly the ability of the banking system to deliver maturity transformation without endangering financial stability. The model also explains why banks tend to use the least liquid eligible collateral with …

The Financialization Of Recession Response, Aaron Klein

Journal of Financial Crises

This paper analyzes economic policy responses to the COVID-19-induced recession, focusing on the American policy response. Despite widespread political distrust between the two parties sharing control of the government and the timing of the upcoming presidential election, America’s political system was able to enact a massive policy response that reduced the severity of the recession. This political response happened faster than any automatic policy response would have, based on the delays in data reporting. The economic policies enacted continued America’s trend toward financialization of fiscal policy. The Federal Reserve and America’s private banking and financial systems were heavily relied upon …

The Federal Reserve System: Diversity And Governance, Kaleb Nygaard, Peter Conti-Brown

Journal of Financial Crises

A growing chorus has called on the Federal Reserve System to diversify its ranks at all levels to reflect better the heterogeneity of the United States. So far, most of these efforts speak to the diversity of the Fed’s principals, namely, the members of the Fed’s Board of Governors and the presidents of the 12 Federal Reserve Banks, who together form the Federal Open Market Committee. In this study, we look instead at a vital part of Federal Reserve governance that has so far not received the same sustained attention: the directors of the Federal Reserve Banks, those private citizens …

"Species Commons": Bishnupriya Ghosh In Conversation With Amit R. Baishya, Bishnupriya Ghosh, Amit Baishya

Critical Humanities

Bishnupriya Ghosh is Professor of English and Global Studies at the University of California, Santa Barbara. Her first two monographs were on cultures of globalization: When Borne Across: Cosmopolitics in the Contemporary Indian Novel (2004) and Global Icons: Apertures to the Popular (2011).

Bioinsecurities: Disease Interventions, Empire, And The Government Of Species By Neel Ahuja, Amrita De

Critical Humanities

In lieu of an abstract:

There is no better way to preface this review of Neel Ahuja’s rich analysis of the “government of species” in his book, Bioinsecurities: Disease interventions, Empire, and the Government of Species than to dive right into the heart of the ongoing interconnected infectious dis-ease crisis.

Introduction: Pandemic And The Global South, Puspa Damai

Critical Humanities

In lieu of abstract: Critical Humanities is a child of the coronavirus pandemic. As paradoxical as it may sound, the journal was born of our desire for community, conviviality, and survival in a world ravaged by disease, despair and death.

Adherence To Best Practices For Stated Preference Valuation Within The U.S. Marine Ecosystem Services Literature, Daniel K. Lew, Leif E. Anderson, Douglas W. Lipton, Tammy B. Murphy, Kristy Wallmo

Journal of Ocean and Coastal Economics

Non-market economic values derived from stated preference (SP) methods are often of interest for policy analysis and evaluation, program design, green accounting, and damage assessments and are increasingly in demand with adoption of ecosystem-based management approaches that emphasize accounting for ecosystem services and their values. A recent guidance prescribes a set of twenty-three best practices guidelines (BPGs) to follow when conducting a SP study to ensure the validity of the results and maximize its ability to provide reliable economic value information. In this article, we evaluate adherence to these guidelines within the U.S. SP marine ecosystem service valuation literature. Our …

Pandemic Experience And The Concept Of World, Paul Turner

Critical Humanities

This article begins with some common or well-known sentiments about the present pandemic era and our experience of it, and moves by way of these toward discussion of the concepts of human existence and the “world” in the broadest sense of both terms. Departing from but also radicalizing the notion that “everything changed” in this pandemic time, I discuss certain logical difficulties that pertain to conceiving of or coherently talking about strict totalities which would include our own selves. This will have significant consequences for our conception of the world (when taken in its absolute or broadest sense), and in …

Plagues, Oblivion, And The Anonymous Dead Echoes From Seneca’S Oedipus And Lucan’S Civil War To Covid-19, Christina Franzen

Critical Humanities

The dead who are piled up in the literary worlds of Seneca’s Oedipus and Lucan’s Civil War are not very different than those of modernity. In their anonymity and silence, they speak so much about the atrocities and traumatic events of the societies in which they live. In Oedipus, nameless citizens claustrophobically are joined to one another in death, and, in Civil War, heaps of dead rot as Caesar looks on. One cannot help being reminded of the mass graves on Hart Island, the refrigerated morgue trucks, and the mass funeral pyres in India. This essay explores how the …

Biopower, Biopolitics And Pandemic Vulnerabilities: Reading The Covid Chronicles Comics, Pramod K. Nayar Ph.D.

Critical Humanities

This essay examines Covid Chronicles: A Comics Anthology from the perspective of biopower and biopolitics. It contends that, on the one hand, the comics capture individual suffering and collective trauma of the pandemic; on the other hand, these comics draw attention to the role the state plays in regulating bodies to be monitored, governed and, in some cases, deemed disposable.

Deadly Snow: Meditations On Muriel Rukeyser, Andrei Tarkovsky, And The Pandemic Era, Nicole Lawrence

Critical Humanities

The following personal essay meditates on Appalachian fatalism and its relationship to vaccine and mask hesitancy. The analogous relationship between ecological destruction and uncertainty with the exploitation and abuse of the body serves as a waypoint to explore Appalachia’s larger dismissal towards “protection” during the pandemic. Included are original art pieces that serve to intertextually converse with Rukeyser’s activism, West Virginia’s aesthetic schism between industrial catastrophe and symbols of prosperity, and Tarkovsky’s imagery of desolation and hope.

Wagon Tracks Volume 37, Issue 1 (November 2022)

Wagon Tracks

Contents

2 On the Cover: Starvation Peak by Dennis Maloney

4 Insights from your President

6 Joanne’s Jottings

5, 8-9 Trail News

10 The First Printing Press in New Mexico

11 Poetry: "Youth on the Santa Fe Trail," "Rendezvous 2022," by Ron Wilson

12 Ancestors on the Trail: Marion Sloan Russell and Claude Francis LaLoge

13-20 Poetry, Novels, Movies, and Children's Literature of theSanta Fe Trail by Dr. Michael Olsen

20 Letter to the Editor

21-30 A Trail Tale Revisited: The Death of Jedediah Smith on the Cimarron River in 1831 by Craig Crease

31 Chapter Reports

33 Membership Form …

One-Week Inquiry About Gravity Force With A Student Who Is Blind, Mustafa Şahin Bülbül Dr.

Journal of Science Education for Students with Disabilities

This study was conducted with a student who is visually impaired and questioned the force of gravity. The different stages encountered in the process were specified as steps in the study and it was shared what kind of inquiry form was needed at each step. There are different activities such as waiting for a week and thought experiment in the inquiry activity. The basis of the activity is that three balls of different mass left on a sponge leave different traces on the sponge.

Op Lobe And The Evacuation Of Canadian Personnel From Libya, 2014: An Interview With Major (Retired) Doug Henderson, Andrew Burtch

Canadian Military History

In the aftermath of the 2011 Arab Spring uprising in Libya and the North Atlantic Treaty Organization’s intervention that overturned Muammar Gaddafi’s government amid fears of reprisals against civilians, Canada and other countries re-established a diplomatic presence. The region was still unstable with many competing militias in a tentative truce following Gaddafi’s downfall. Canada’s embassy required a military presence to secure the compound and the safety of Canadian VIPs. In July 2014, the men and women of Operation LOBE were forced to evacuate from Libya amid a diplomatic exodus during a resurgence of civil war. This piece, based largely on …

Accurate Diagnosis After Multidisciplinary Tumor Board: A Case Report Of Cholangiocarcinoma, Amanda Kostryk, Ravi Patel, Julieann Warner, Joel Thompson

Advances in Clinical Medical Research and Healthcare Delivery

Multidisciplinary tumor boards (MDTBs) provide a venue for discussion of diagnosis, staging, and treatment of patients with cancer. MDTBs have been shown to improve diagnostic accuracy and staging, exemplified in this patient with a hepatic flexure mass on colonoscopy and initial pathology suggestive of primary colonic adenocarcinoma with surface mucosal involvement. However, subsequent CT imaging revealed a biliary malignancy invading the colon. Discussion at a MDTB facilitated radiology-pathology correlation, with subsequent immunohistochemical stains compatible with a cholangiocarcinoma with transmural colonic invasion. Prompt and accurate diagnosis after the MDTB enabled the oncology team to offer the proper treatment approach.

Interosseous Access Osteomyelitis, Omar Siddiqui, Adnaan Sheikh, Rohail Baig, Harsha Surath, Siri Chadalavada, Firas Siddiqui, Ganesh Arun, Jaskarn Virk, Nikita Shah

Advances in Clinical Medical Research and Healthcare Delivery

Intraosseous (IO) access is a recommended technique in cases of an emergency situation where IV access cannot be obtained. Despite advancements in IO devices and FDA approval of many types of IO devices, it has various complications that although are rare, can be potentially life-threatening. We report a case of acute tibial osteomyelitis in an adult female with a history of polysubstance drug abuse a few weeks after an IO access from a previous hospital stay.

Elevated Troponin In Patients With Intracerebral Hemorrhage, Kaycee Umeoji, Uma Yoganathan, Ann A. Palathingal

Advances in Clinical Medical Research and Healthcare Delivery

Troponin, a known marker for cardiac damage, also plays a role in predicting mortality and morbidity in patients with intracerebral hemorrhage (ICH). Elevated troponin levels have been noted in patients with ICH and studies have shown that such patients are more likely to experience adverse outcomes. The mechanism behind this is suggested to be the release of sympathetic hormones causing myocardial injury. The first differential that often comes to mind when a physician sees an elevated troponin level is a myocardial infarction (MI). In this paper, we present a case of a 54-year-old female who presented to the ED with …

An Invading Stent: Conservative Management Of A Penetrating Splenic Injury By A Migrated Pancreatic Duct Stent, Jay Bapaye, Ahmed Shehadah, Chengu Niu, Anas Hashem, Rutwik Pradeep Sharma, Patrick Okolo

Advances in Clinical Medical Research and Healthcare Delivery

Pancreatic duct (PD) stenting is a common treatment modality for PD calculi or strictures, which are common complications of chronic pancreatitis. PD stent migration is a described complication of the procedure. Penetrating splenic injury may result in life-threatening hemorrhage, often requiring splenic artery embolization or splenectomy. Herein, we describe a unique case of a 49- year-old female with chronic pancreatitis and PD stent who presented with abdominal pain. A computed tomography of her abdomen revealed the distal end of her PD stent to have migrated internally through her spleen with an associated perisplenic fluid collection. After initial clinical stabilization she …

Case Study: Abnormal Presentation Of Infective Endocarditis With Streptococcus Canis And Chiari Network, Shahbaz Afzal, Ryan Russell, Alexander Chekhov

Advances in Clinical Medical Research and Healthcare Delivery

Here we present a rare case of infective endocarditis (IE) with Streptococcus canis and Chiari network in an 85 year old female living with multiple dogs and open skin of lower extremity predisposing her to bacteremia. Underlying abnormalities of the cardiac chambers such as Chiari network predisposes to a higher incidence of bacterial seeding and causing IE. A Chiari network is usually asymptomatic and of no clinical significance but can worsen prognosis in IE. IE carries a significant morbidity and mortality burden and when diagnosed early can be a lifesaving diagnosis. Due to the wide range of complications, early diagnosis …

Metastatic Testicular Cancer Patient With Synchronous Oral Squamous Cell Carcinoma Presented With Gastrointestinal Bleeding: A Case Report, Manar F. Ashour, Sundus Nasim, Hallas M. Kadhim, Maan Faraj, Sylvia E. Eshak

Advances in Clinical Medical Research and Healthcare Delivery

Testicular cancer is a curable oncologic disease of males mostly aged 15-44 years. Most of the patients are successfully treated with radical orchiectomy. However, a delayed presentation may lead to a dismal prognosis. There are several risk factors including cryptorchidism, a first-degree relative with testicular cancer, hypospadias, childhood inguinal hernia, and military pollutant exposure, among others. The distant metastasis of testicular carcinoma to the lung, liver, and brain are widely described. We present a unique case of a 28-year-old male who presented with gastrointestinal (GI) bleeding. Later, it was discovered that he had a metastatic testicular carcinoma synchronous with an …

Mystery Rash: Atypical Presentation Of Suspected Cat-Scratch Disease In Primary Care, Nicole Hunter, Rutwik Pradeep Sharma, Omobolanle Adetimehin, Yasir Loai

Advances in Clinical Medical Research and Healthcare Delivery

No abstract provided.

A Rare Presentation Of Fulminant Toxic Shock Syndrome In A Healthy 10-Year-Old Male Patient, Albert Sabirov, Michael Caplan

Advances in Clinical Medical Research and Healthcare Delivery

Staphylococcal toxic shock syndrome (STSS) is characterized by acute, progressive illness with fever, rapid-onset hypotension, and multisystem organ failure. The clinical course of STSS is attributable to host response to exotoxins with superantigenic properties. Fulminant staphylococcal infection is often associated with a deep focus of infection. In this report, we present a 10-year-old boy with multisystem organ failure as a result of STSS, a rare fatal complication following soft tissue injury. The rapid and fulminant progression of the disease in our patient precluded early timely diagnosis of STSS that may have allowed for the initiation of life-saving supportive intervention. Furthermore, …

Comparison Of Pregnancy Complication Rates: Does Opioid Agonist Pharmacotherapy Make A Difference?, Alexa Pfeiffer Oms-Iii, Michael Falcone Oms-Iii, Pritha Aggarwal Oms-Iii, Andrea M. Bodine Md

Advances in Clinical Medical Research and Healthcare Delivery

Background: Over the past decade, the prevalence of opioid use disorder (OUD) in pregnant patients has increased by 131% with an associated increase in pregnancy complications. Opioid agonist pharmacotherapy (OAP) with methadone or buprenorphine is recommended by ACOG for the management of OUD. The objectives of our study are to compare the incidence of pregnancy complications among patients who at the time of their delivery used OAP, OAP plus any additional substance (OAP+), illicit or prescribed opioids, and no opioids.

Methods: We conducted a retrospective cohort study at Berkshire Medical Center in Pittsfield, MA, between January 1, 2018, through December …