Public Administration Commons^™

Lessons Learned: Tim Clark, Lynnley Browning

Journal of Financial Crises

During the Global Financial Crisis of 2007–09, Tim Clark was senior adviser in the Division of Banking Supervision and Regulation at the Board of Governors of the Federal Reserve System. Clark was a chief architect of the Federal Reserve’s capital and liquidity stress tests that helped to stabilize the banks. He was also one of the leaders behind the implementation of the Dodd-Frank Act and other reforms at the Federal Reserve, and ultimately served as deputy director of the Division for Supervision and Regulation. This abstract is based on an interview with Clark that occurred on December 13, 2019.

The Internal Capital Markets Of Global Dealer Banks, Arun Gupta

Journal of Financial Crises

This study uncovers the existence of a trillion-dollar internal capital market that played a central role in the financing of dealer banks during the 2007–09 Global Financial Crisis. Hand-collecting a novel set of dealer microdata at the subsidiary level, I present a unique set of facts on the evolution of inter-affiliate loans between US primary dealers and their (primarily foreign) siblings. First, the aggregate size of these dealer internal capital markets quadrupled from $335 billion in 2001 to $1.2 trillion by 2007. Second, 25 percent of total repurchase agreements and 62 percent of total securities lending reported on US primary …

Lessons Learned: John Bovenzi, Sandra Ward

Journal of Financial Crises

As a deputy to the chairman of the Federal Deposit Insurance Corporation (FDIC) and in his role as chief operating officer of the agency, John Bovenzi provided policy advice and oversaw the agency’s operations, including business lines, bank supervision, bank closings, deposit insurance, and administrative affairs. Bovenzi’s most notable role during the Global Financial Crisis was manning the helm of mortgage lender IndyMac after the FDIC took it over in July 2008 to position it for a sale. This abstract is based on an interview with Bovenzi conducted on December 2, 2020

Managing External Volatility: Policy Frameworks In Non-Reserve-Issuing Economies, Hélène Poirson, Nathan Porter, Ghada Fayad, Itai Agur, Ran Bi, Jiaqian Chen, Johannes Eugster, Stefan Laseen, Jeta Menkulasi, Kenji Moriyama, Céline Rochon, Katsiaryna Svirydzenka, Camilo Tovar, Zhongxia Zhang, Aleksandra Zdzienicka

Journal of Financial Crises

Since the Global Financial Crisis, non-reserve-issuing economies (NREs) have been highly sensitive to episodes of external pressures. With monetary policy independence constrained by this sensitivity, many NREs have utilized other policy instruments. This paper confirms the vulnerability of NREs to external shocks and finds that, in some circumstances, managing such shocks with multiple instruments can both lessen the policy response required from any one policy tool to financial and external shocks and increase the effectiveness of policies in stabilizing macrofinancial conditions. Effectiveness, however, does not always imply appropriateness, which rests on an evaluation of potential trade-offs and unintended consequences.

From Lost Turnover To Nonperforming Loans: The Impact Of The Covid-19 Pandemic On The Economy And On The Financial System, Antonio Sánchez Serrano

Journal of Financial Crises

The COVID-19 pandemic created an unprecedented economic shock across the world. As a result of the coronavirus outbreak and the related health measures, nonfinancial corporations providing nonessential goods or services that cannot be consumed remotely have experienced a large decrease in their turnover. Using balance sheets and flows statements, we are able to quantify the impact of the pandemic on nonfinancial corporations and households, according to several scenarios for the pandemic over 2021. The impact is largely heterogeneous across sectors and amounts to up to 20% of the turnover for euro area nonfinancial corporations. Stress in these corporations and households …

Financial Crises And Legislation, Peter Conti-Brown, Michael Ohlrogge

Journal of Financial Crises

Scholars frequently assert that financial legislation in the United States is primarily crisis driven. This “crisis-legislation hypothesis” is often cited as an explanation for various supposed shortcomings of US financial legislation, including that it is poorly conceived and inadequate to the problems it aims to address. Other scholars embrace the hypothesis, but from the perspective that crises are the needed impetus to prompt constructive reforms. Despite the prevalence of this hypothesis, however, its threshold assumption—that Congress passes major financial legislation only when financial crises arise—has never been analyzed empirically. This article provides that analysis. We first devise a new system …

A Tough Woman Around Tender Men: Dilma Rousseff, Gendered Double Bind, And Misogynistic Backlash, Farida Jalalzai, Brianna Kreft, Lizbet Martinez-Port, Pedro A. G. Dos Santos, Brigid M. Smith

Political Science Faculty Publications

Dilma Rousseff's presidency ended in controversial form. The first woman elected to the position in Brazil, Rousseff's 2016 impeachment was seen as a coup by her supporters and as a necessary step for democracy by her detractors. With the Brazilian economy facing its worst recession in history and the Car Wash corruption scandal ravaging the political class, critics continually raised questions about Rousseff's leadership style and abilities. This article analyzes how this criticism in part can be attributed to gendered subjective understandings of preferred leadership traits. Using a thematic analysis of interviews with political actors in five different Brazilian states …

Editorial, Teresa R. Behrens

The Foundation Review

No abstract provided.

The Soft Stuff Doesn’T Have To Be Hard: Foundation Investments In Grantee Workers Are Necessary, Valuable, And Measurable, Rusty Stahl

The Foundation Review

There is an urgent need for funder investments in the ability of grantee nonprofit organizations to support their staff. Such investments, when done well, can yield significant value for individuals, organizations, and fields of work or movements. Furthermore, the value of these investments can be evaluated and communicated.

This article explores the reasons for and implications of the inadequate response by funders, offers a path forward for designing investments in grantee staff, and documents how funders can capture and communicate the value of these “talent investments.”

Powerful myths serve as barriers to widespread funder investment in grantee staff, and the …

Executive Summaries

The Foundation Review

No abstract provided.

Media Relations Strategies Of Philanthropic Foundations: A Longitudinal Analysis Of News Releases Produced By Top U.S. Foundations, Richard D. Waters, Giselle Auger, Kelly Husted

The Foundation Review

Given their role in funding programs and services provided by nonprofit organizations, foundations have a critical role as advocates for social change. However, grant money is by itself not enough to create that change. Agenda-setting theory highlights the critical role of organizations in bringing change issues to the attention of the media and, therefore, the public. This article uses content analysis to compare two sets of a random sample of news releases from 20 of the largest foundations in the United States. The two sets are seven years apart, from 2014 and 2021, to allow comparison of the maturation of …

Book Review: In Defence Of Philanthropy, Nabih Haddad

The Foundation Review

No abstract provided.

Advancing Philanthropic Strategy Through Evaluative Thinking: One Foundation’S Approach, Christine Baker, Margaret Eigsti, Kathryn Racine, Laurence O’Connell

The Foundation Review

The Sisters of Charity Foundation of Cleveland supports Catholic sisters and their ministries in northeast Ohio through the grantmaking, partnership, capacitybuilding, and evaluation efforts of its Catholic Sisters Program Area. The decline of sisters actively engaged in ministry, due both to their rising median age and a decades-long decline in their overall numbers, called for a reconsideration and likely revision of the CSPA existing theory of change.

Unlike other strategic approaches at the foundation, such as ending homelessness or improving health equity, transitioning from sister-led to lay-led leadership of ministries remained largely unexplored: Basic research was lacking, and model practices …

Engaging Community To Build A Community Dashboard, Tanya Upthegrove Gregory, Liz Gordillo

The Foundation Review

The Ruth Mott Foundation’s mission is to advocate, stimulate, and support community vitality in our community of Flint, Michigan. The goal of the foundation’s 2016–2025 strategic plan is that residents of north Flint neighborhoods create and sustain opportunities to contribute and thrive. As a place-based grantmaker, the foundation uses community-level data internally to establish baseline data. Those data, in combination with local relationships and knowledge of other community initiatives, guide the foundation’s grantmaking strategy in the community’s context and assist with data-driven decision-making. Externally, the dashboard supports community engagement through access to local data. The foundation partnered with the Dorothy …

Front Matter

The Foundation Review

No abstract provided.

The Yin And Yang Of Equity-Centered Philanthropy, Douglas Easterling, Laura Mcduffee, Sabina Gesell

The Foundation Review

Foundations face two competing imperatives when they commit to advancing equity. On the one hand, they are counseled to support and follow the lead of community-based groups that are on the front lines of social change. On the other hand, they are also being challenged to use their power and influence to act boldly to change inequitable structures, policies, and institutions. These two orientations, yin and yang, can take a foundation in different directions and thus cause confusion and internal conflict.

The challenge for a foundation is to balance and integrate the two orientations into a comprehensive and effective approach …

Learning As We Go: How Emergent Process Supports Sustainable Community And Philanthropic Change, Elizabeth Myrick, Rachel Mosher-Williams, Laurie Zierer

The Foundation Review

Beginning in 2014, PA Humanities, one of 56 state and territorial humanities councils across the country, drew upon the work of Orton Family Foundation to deploy the Community Heart & Soul method, which centers community planning and civic engagement around connecting people to each other, and to the many assets of the places they live, through individual storytelling and collective narrative building.

Between 2015 and 2018, PA Humanities awarded matching grants to three locations in Pennsylvania — Greater Carlisle, Meadville, and Williamsport — to pilot PA Heart & Soul, a humanities-based, resident-driven community planning process that cultivates a shared sense …

Back Matter

The Foundation Review

No abstract provided.

Tfr 14.3 Full Issue

The Foundation Review

No abstract provided.

Research On Countermeasures To Strengthen Domestic Traffic Safety Based On Risk Control, Hui Lin

World Maritime University Dissertations

No abstract provided.