Policy History, Theory, and Methods Commons^™

The Hungarian Loan Consolidation Program, Mallory Dreyer

Journal of Financial Crises

After spinning off the commercial banking functions that the central bank had performed for many years into three new banks, post-Communist Hungary faced a severe recession in 1992. The recession led to a high level of nonperforming loans (NPLs) in the banking system. In 1992, the Hungarian government announced a Loan Consolidation Program (LCP) to remove bad debt from the balance sheets of banks on a voluntary basis. Depending on the date when a loan was classified as “bad,” the government paid 50%, 80%, or 100% of book value. In 1992, banks transferred bad debt with a book value of …

Bureau De Recouvrement Des Crédits Du Burkina (Brcb), Mallory Dreyer

Journal of Financial Crises

In Burkina Faso, the pre-1990s banking system was characterized by a high level of government involvement and ownership, which led to government-induced lending rather than lending based on creditworthiness. Nonperforming loans in the Burkinabe banking system grew to 10 percent of total loans in 1991. In order to address the banking crisis in 1991, the Burkinabe government entered into a Structural Adjustment Facility with the IMF and other multilateral organizations which prioritized the privatization of government-owned enterprises and included rehabilitation of the financial system. As part of this restructuring, the government established the Bureau de Recouvrement des Crédits du Burkina …

Ghana Non-Performing Asset Recovery Trust (Npart), Riki Matsumoto

Journal of Financial Crises

The Ghanaian financial sector was in severe distress in 1985 after a decade of high and variable rates of inflation, low economic growth, and financial policies ill-suited to the country’s goals. Ghana, with World Bank support, implemented a Financial Sector Adjustment Program (FINSAP) between 1988-1997. To comply with the FINSAP, the Government established the Non-Performing Assets Recovery Trust (NPART) as a temporary public asset management company under Provisional National Defence Council Law 242 on February 28, 1990, with an initial 6-year statutory life, for the purpose of: 1) facilitating the restructuring and recapitalization of major state-owned banks; 2) expediting the …

Us Resolution Trust Corporation, Aidan Lawson, Lily S. Engbith

Journal of Financial Crises

The savings and loan (S&L) industry experienced a period of turbulence at the end of the 1970s as sharply increasing interest rates caused much of the value of the industry’s net worth to evaporate due to its focus on long-term, fixed-rate mortgages. As a result, a period of rapid deregulation followed, and S&Ls, also called thrifts, engaged in increasingly risky behavior despite many being clearly insolvent. This trend of yield-seeking growth on the part of zombie thrifts forced the government’s hand as huge losses rendered the insurance fund backing the industry, called the Federal Savings and Loan Insurance Corporation (FSLIC), …

Senegal Société Nationale De Recouvrement (Snr), Corey N. Runkel

Journal of Financial Crises

In the late 1980s, Senegal embarked on a comprehensive set of reforms to its banking sector. The reforms comprised changes to management, supervision, and lending standards after loose central bank refinancing standards had let the nonperforming loans (NPLs) caused by drought and public enterprise mismanagement linger on bank balance sheets. In the process, the country attempted to recover NPLs worth hundreds of billions of francs. Senegal closed several state-controlled banks, transferring bad assets and certain liabilities to a new asset management company, the Société Nationale de Recouvrement (SNR). The SNR’s debt recoveries would reimburse depositors in the liquidated banks and …

Uruguayan Non-Performing Portfolio Purchase Scheme, Sean Fulmer

Journal of Financial Crises

As the Latin American sovereign debt crisis spread through the continent during the early 1980s, foreign investors began to abandon Uruguay out of fear that it would devalue its currency like Argentina did in March 1981. Five small- to medium-sized commercial banks in Uruguay faced solvency crises as a result. Although the Central Bank of Uruguay (CBU) decided that a full, direct intervention into the failed banks was not necessary due to their size, the CBU arranged for the sale of the banks to foreign financial institutions, while assuming the non-performing portfolios of the failed banks to facilitate the transaction. …

Spain: Deposit Guarantee Fund Asset Management, Manuel León Hoyos

Journal of Financial Crises

The global oil shock in 1973-74 occurred at a time when Spain was embarking on a liberalization of its financial system that resulted in many new entrants, particularly small- and medium-sized institutions. The banking crisis that followed from 1977-85 affected 52 of the country’s 110 banks, most of them of small- and medium-sized, that comprised over 20% of bank deposits. Spain established the Deposit Guarantee Fund in November 1977 to provide limited deposit insurance, and, in March 1978, established a Banking Corporation to take control of and reorganize troubled banks. However, because the Banking Corporation lacked the legal authority to …

Ensuring Equitable Access: Theory And Methodology On Future Grant Application Design For The City Of Bloomington's John M. Scott Health Care Commission, Zachary Fabos

Student Research – Stevenson Center

This research utilizes qualitative and quantitative methods to analyze perception and opinion of the City of Bloomington’s John M. Scott Health Care Commission’s grants program and its application process among recipient agencies and other participants. Data, gathered through surveys and semi-structured interviews, in 2020 and 2021, between representatives of each agency and the researcher are meant to inform the development of new approaches encouraging a wider reach of the Commission’s grants program in McLean County, Illinois. Questioning the theoretical purpose of merit, bureaucracy, and performance in an application process, this research aims to create a more accessible program for agencies …

Vision Redux: Power And Policy In Saudi Arabia, Ross Douglas Kimm

Theses and Dissertations

The size and scope of the Vision 2030 modernization plan and the associated Saudi Aramco initial public offering are watershed events in the history of the modern Kingdom of Saudi Arabia. However, they are not outside the history of the country’s development. This thesis, tracing the roots of this latest development plan back to the founding of the current Saudi state, found that Vision 2030 shares many characteristics with previous efforts. Further, it also found precedence for powerful princes rising to power at times of tectonic change. Finally, while historical context is key to understanding this moment in the Kingdom, …

The Economics Of Giving: How Monetary Policy Impacts Charitable Giving, Asa J. F. Cort

Doctoral Dissertations (DBA)

This paper examines the impact of the monetary policy transmission mechanism specifically the Loan Supply (Narrow Credit Channel), Market Interest Rates (Interest Rate Channel) and Asset Price Levels (Wealth Channel) have on charitable giving within the United States. An OLS (Ordinary Least Squares) model is used to test whether the variables within each channel influences charitable giving. We find that each variable used (revolving credit, real estate loans, federal funds rate, inflation, real disposable income and housing prices) is statistically significant in influencing charitable giving within the United States.

Victim Impact: The Manson Murders And The Rise Of The Victims’ Rights Movement, Merrill W. Steeg

LSU New Orleans Theses and Dissertations

No abstract provided.

Neighborhood Reinvestment: A Changing Community In The Urban South, Jackson Nutt-Beers

Master's Projects and Capstones

Since the mid-twentieth century, public and private actors across the country have been identifying sources of potential capital accumulation in the United States. Shortly after the passing of the Civil Rights Act by President Lyndon Johnson in the mid 1960s, many White families across the country fled the urban core for the suburbs leaving neighborhoods in the city center abandoned and without capital. During this period, Black families and other racial minority groups were forced to live in the blighted neighborhoods of the urban core due to a variety of racialized discriminatory housing practices that lead to the disinvestment of …

Affordable Housing In San Francisco: A Historical Analysis Of Its Finances And Policies, Ricky H. Tran

Master's Projects and Capstones

The affordable housing crisis is not new to San Francisco. As it has been made clear several times, The Bay Area continues to face a crisis of a massive wealth disparity as housing prices continue to rise as incomes for the top earners have risen dramatically since 1999. In San Francisco, rents and housing prices are one of the highest in the nation, and people are facing rent burdens, in which a large portion of their income goes to rent, as for those with low and extremely low income are facing severe rent burdens, which take up more than 50% …

To New Geographies: Implementing U.S. Department Of Energy Order 151.1d, Comprehensive Emergency Management System, Eric B. Sussman

Capstone Collection

Emergency Management programs at National Nuclear Security Administration facilities are governed by federal policy directive Department of Energy Order 151.1D, Comprehensive Emergency Management System. The prescriptions within the Order are often at odds with industry-standard frameworks and vocabularies established by the Department of Homeland Security. Boleman and Deal’s Four Frame Model offers the tenets of the Political, Structural, Human Resource, and Symbolic lens perspectives to clarify the nature of disparate programs precipitant from disparate agency policies. This project utilizes a Phenomenological Interpretivist Framework for qualitative research to triangulate data across textual analyses, public perception, and practitioner experience, thus identifying …

Making Parents Experts: Parents For Public Schools At The Turn Of The 21st Century, Mikayla Jordan

Honors Theses

There has been a long history of debate in the United States about whether centralized or decentralized control of schools is better or more desirable for the education of the nation’s children. This conversation has been shaped heavily by changes in federal education policy since the mid 20th century such as the Elementary and Secondary Education Act of 1965, the Improving America’s Schools Act of 1994, No Child Left Behind in 2001, and the Every Student Succeeds Act of 2015. The voices of parents have always been a prominent part of this dialogue as local citizens and as experts on …

Creating House Sharing Programs Standards-Based Evaluation For House Sharing Programs Within California, Diem Hoang

Master's Projects

This research compared various house sharing programs in the National House Sharing Resource Center that are approved by California counties and cities and operated through nonprofit agencies with standard metrics published by Affordable Living for the Aging (ALA). The objective was to determine the most successful practices. This research paper used the standard metrics that were published in ALA to compare and analyze 11 non-profit organization operations with the expectations that were set by the publication.

The Role Of Social Media In Policy Formulation Improvement In California, Khoi Minh Nguyen

Master's Projects

How could staff members of California Assembly members use social media to improve policy formulation? The purpose of this study is to assess the role that social media platforms such as Twitter and Facebook could play in the formulation and evaluation of policies in the state of California, given the increasing application of big data in decision making in the private sector. This study further evaluated how emerging technologies such as machine learning and artificial intelligence could be used to determine the attitudes and perceptions of the citizens of California, specifically on policy issues, and analyze how these technologies could …

The Permitting And Completion Of Accessory Dwelling Units (Adus) In Santa Clara County To Satisfy The Regional Housing Needs Allocation, Phuong Pham

Master's Projects

The research question for this study is as follows: How have the local jurisdictions in Santa Clara County changed their General Plans, the General Plan housing elements, and zoning ordinances to comply with the new state law on ADU development that went into effect on January 1, 2020? Can the creation of ADUs be counted as low-income housing units to contribute to achieving Santa Clara County's RHNA goals?

Mapping Renewal: How An Unexpected Interdisciplinary Collaboration Transformed A Digital Humanities Project, Elise Tanner, Geoffrey Joseph

Digital Initiatives Symposium

Funded by a National Endowment for Humanities (NEH) Humanities Collections and Reference Resources Foundations Grant, the UA Little Rock Center for Arkansas History and Culture’s “Mapping Renewal” pilot project focused on creating access to and providing spatial context to archival materials related to racial segregation and urban renewal in the city of Little Rock, Arkansas, from 1954-1989. An unplanned interdisciplinary collaboration with the UA Little Rock Arkansas Economic Development Institute (AEDI) has proven to be an invaluable partnership. One team member from each department will demonstrate the Mapping Renewal website and discuss how the collaborative process has changed and shaped …

Lessons Learned: Robert Hoyt, Esq., Yasemin Esmen

Journal of Financial Crises

Robert Hoyt was General Counsel at the U.S. Department of Treasury between 2006 and 2009. He oversaw legal aspects of policies implemented to manage the crisis, including the rescues of Bear Stearns, AIG, and the U.S. Auto industry, the conservatorship of Fannie Mae and Freddie Mac, and the failure of Lehman Brothers, as well as the creation and implementation of the Troubled Asset Relief Program (TARP.) This Lessons Learned is based on a phone interview with Mr. Hoyt.

The Rescue Of Fannie Mae And Freddie Mac – Module Z: Overview, Rosalind Z. Wiggins, Ben Henken, Adam Kulam, Daniel Thompson, Andrew Metrick

Journal of Financial Crises

In September 2008, as the financial crisis that had begun the previous year escalated, the US government appointed a conservator for two government-sponsored enterprises (GSEs), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), that dominated the secondary mortgage market and were among the largest participants in the global capital markets. The conservatorships were the hallmark of a multipart rescue plan intended to save the firms from insolvency and a disorderly collapse and required the combined and coordinated efforts of several government agencies and instrumentalities. Ultimately, the government invested $191.5 billion into the …

The Rescue Of Fannie Mae And Freddie Mac-Module B: Senior Preferred Stock Purchase Agreements, Daniel Thompson

Journal of Financial Crises

On September 6, 2008, as part of a four-part government intervention, the Federal Housing Finance Agency (FHFA) took into conservatorship the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), two government-sponsored enterprises (GSEs) that dominated the US secondary mortgage market. Concurrently, the FHFA, as conservator, entered into Senior Preferred Stock Purchase Agreements (SPSPAs) with Treasury, under which Treasury committed to provide funding to ensure the GSEs’ positive net worth. In return, Treasury received senior preferred stock and a warrant to purchase 79.9% of the GSEs’ common stock. The SPSPAs have been amended three …

Tractorcade: Investigating The Relationship Between Group Theory And The American Agriculture Movement's Attempt At Policy Change, Hanna M. Metzler

Honors Theses

This thesis aims to investigate the relationship between The American Agriculture Movement (AAM) and group theory, with a focus on AAM’s usage of Tractorcade as a tool to promote policy change. Gathering data through a myriad of sources - including existing literature, oral histories, newspaper articles, documents, and journal entires - this thesis analyzes AAM’s Tractorcade demonstration as a social movement aimed at influencing policy change. Utilizing Charles Tilly’s worthiness, unity, numbers, and commitment (WUNC) social movement framework, we find that although AAM employed strong unity and numbers, they failed in displaying substantial worthiness or commitment, ultimately leading to a …

Self-Determination In American Discourse: The Supreme Court’S Historical Indoctrination Of Free Speech And Expression, Jarred Williams

Honors Program: Senior Projects (Public)

Within the American criminal legal system, it is a well-established practice to presume the innocence of those charged with criminal offenses unless proven guilty beyond a reasonable doubt. Such a judicial framework-like approach, called a legal maxim, is utilized in order to ensure that the law is applied and interpreted in ways that legislative bodies originally intended.

The central aim of this piece in relation to the First Amendment of the United States Constitution is to investigate whether the Supreme Court of the United States has utilized a specific legal maxim within cases that dispute government speech or expression regulation. …

The History Of Denying Federal Financial Aid To System-Impacted Students, Bradley D. Custer

Journal of Student Financial Aid

People who are impacted by the criminal justice system (“system-impacted”) face barriers when seeking financial aid to pay for college. Between the late 1960s and the early 2000s, Congress created laws that prohibited incarcerated students and students with certain criminal convictions from receiving federal grants and loans. This paper offers a comprehensive review of the history of those laws, which provides context for current debates on restoring Pell Grants to students in prison. Legislative documents, scholarly sources, and news reports were studied to build this historical review. Key lessons from history are discussed as to how Congress might treat system-impacted …

Reply Memorandum Of The United States House Of Representatives In The Impeachment Trial Of President Donald J. Trump, U.S. House Of Representatives Managers

United States Senate Documents

INTRODUCTION 1

ARGUMENT 5

PRESIDENT TRUMP’S ATTEMPTED DEFENSES FAIL 5

A. President Trump Cannot Reasonably Deny Responsibility For Inciting The Insurrection 5

B. The Senate Has Jurisdiction To Try This Impeachment . 10

C. The First Amendment Provides No Defense to Conviction and Disqualification 19

D. President Trump Has Received From Congress All The Process He Was Due 23

E. The Senate Is Not Limited To The Standards Of Criminal Law . 26

F. The Article Does Not Charge Multiple Instances Of Impeachable Conduct 29

Replication Of The United States House Of Representatives To The Answer Of President Donald J. Trump To The Article Of Impeachment, U.S. House Of Representatives Managers

United States Senate Documents

The House of Representatives, through its Managers and counsel, replies to the Answer of President Donald J. Trump as follows: The House denies each and every allegation in the Answer that denies the acts, knowledge, intent, or wrongful conduct charged against President Trump. The House states that each and every allegation in the Article of Impeachment is true, and that any affirmative defenses and legal defenses set forth in the Answer are wholly without merit. The House further states that the Article of Impeachment properly alleges an impeachable offense under the Constitution, is not subject to a motion to dismiss, …

Answer Of President Donald John Trump, 45th President Of The United States, To Article I: Incitement Of Insurrection, Bruce Castor Jr, David Schoen

United States Senate Documents

To: The Honorable,the Members of the Unites States Senate:

The 45th President of the United States,Donald John Trump,through his counsel Bruce L. Castor, Jr., and David Schoen hereby responds to the Article of Impeachment lodged against him by the United States House of Representatives by breaking the allegations out into 8 Averments ... WHEREFORE,Donald John Trump,45th President of the United States respectfully requests the Honorable Members of the Senate of the United States dismiss Article I: Incitementof Insurrectionagainst him as moot, and thus in violation of the Constitution, because the Senate lacks jurisdiction to remove from office a man who …

Trial Memorandum Of The United States House Of Representatives In The Impeachment Trial Of President Donald J. Trump, Jamie Raskin, Diana Degette, David Cicilline, Joaquin Castro, Eric Swalwell, Ted Lieu, Stacey Plaskett, Madeleine Dean, Joe Neguse

United States Senate Documents

INTRODUCTION ....................... 1

STATEMENT OF FACTS ........................... 5

A. President Trump Refuses to Accept the Results of the 2020 Election ........ 5

B. President Trump Encourages His Followers to Come to Washington on January 6, 2021 and “Fight” to Overturn the Election Results ............. 12

C. Vice President Pence Refuses to Overturn the Election Results ........... 18

D. President Trump Incites Insurrectionists to Attack the Capitol ........ 20

E. Insurrectionists Incited by President Trump Attack the Capitol ........... 22

F. President Trump’s Dereliction of Duty During the Attack ............ 29

G. The House Approves An Article of Impeachment with Bipartisan …

Lessons Learned: Phil Angelides, Sandra Ward

Journal of Financial Crises

Phil Angelides chaired the Financial Crisis Inquiry Commission (FCIC) established by Congress in the aftermath of the global financial crisis of 2007-09 with the purpose of understanding what precipitated the crisis so that any future crises might be averted. The 10-member bipartisan commission, known as the “Angelides Commission” after its chair, convened in September 2010. Meeting in a span of 15 months and holding 19 public hearings and interviewing more than 700 people, the commission submitted its findings in January 2011. The commission concluded that the crisis was avoidable, the “result of human actions, inactions, and misjudgments.” The report included …