The Federal National Mortgage Association, commonly known as Fannie Mae, is a stockholder-owned corporation chartered by Congress in 1968 as a government sponsored enterprise, but founded in 1938 during the Depression. Contrary to some beliefs, Fannie Mae does not make home loans directly to consumers, but rather functions as an intermediary in the U.S. secondary mortgage market. By purchasing and securitizing mortgages, Fannie Mae facilitates liquidity in the primary mortgage market by ensuring that
Finally, the last method used to get through the legal requirement of the North Carolina Consumer Finance Act has been the claim that the payday lender is really an out of state bank and that they are exempt from North Carolina law. However, under Federal law 12 U.S.C. 1831d, states cannot limit interest rates imported by out of state banks (Federal Deposit Insurance Corparation, 1980). Therefore payday lenders maintain a business relationship with out of state banks and then claim that under Federal law the lending bank can import that out of state rate into North
This means that the prices for stock were too high, far higher than they were really worth, then they fell drastically. People who had borrowed money to buy high-priced stocks (intending to sell the stocks at a profit and repay lenders), went bankrupt. That’s further expounding on what I said about buying on margin. Black Tuesday also marks the beginning of the great depression (Regan3). Living conditions during this time were unsanitary and horrible.
The average American only makes $41,673.83 annually according to the social security online national wage index, but it is said that the average NBA player makes a stunning $4,790,000 per year. It seems crazy that the average NBA player makes more in a week than the average American does in a year, but yet they are still arguing with team owners over slight pay cuts. The NBA lockout has been all over the news for months, and it seems extremely silly that millionaires are arguing with billionaires over how to divvy up four billion dollars. Due to this topics extreme publicity and silliness; many fans have felt a sense of exigency, in a rhetoric sense, and have decided to speak out on the issue. David Heeb, a high school teacher and basketball
2. A Bond; is a loan amount lent to a Government, or business which pays a fixed interest rate for a fixed period of time. 3. A Mutual Fund; is a collection of investments managed by a professional investment firm, where investors can buy and sell shares of many different organizations or
In the year of 1877, employees working for the four largest railroads went on strike due to the fact that their employers cut their wages by 10 percent; this was known as the Great Rail Road Strike. This strike was unsuccessful because it got out of hand, and President Hayes called in the federal troops to quell the unrest brought by the striking laborers. Because of the failure of the Great Rail Road
If America could not get it right the first two times what makes us be able to have the Federal Reserves be successful this time around.” The first bank of the United States was set into law on April 25, 1791. Over the next five years of the first bank, the American government borrowed more than $8 million and this made the prices raise an average of 72 percent” (Robinson, 103). After the charter ran out for the first bank, it was a debate to renew it. With the conflict with the British and creating the war of 1812, of course, America needed more money and creates the second bank of America. The first and second bank were similar, they both were created to issue currency and purchase government debt.
Which of the following choices regarding the proprietary fund financial statements is true? A. The Statement of Net Assets (Balance Sheet) reflects equity as contributed equity and retained earnings. B. Normally, a reconciliation is required between the proprietary fund financial statements and the business-type activities column in the government-wide financial statements.
National football league is a very high price market and it product is valuable beyond means. Economically the national football league gross nearly 9 billion dollars in total revenues last year. So this summer the (NFL) officials decided to strike because they felt weren't being paid enough compared to what the league was grossing yearly. A source stated from a union official that it would cost the N.F.L just 3.2 million annually, if the league met all of the demands a fraction of the 9 billion (New York Times). The referees had not been trained properly and were thrower in to the pot.
The collapse of the housing market and unemployment caused the most damage. Between 1991 to 1992 unemployment had gone back up to 2.6 million. Negative equity meant home owner were paying mortgages far higher than their homes were worth. Many people could simply not keep up with the increased prices and resulted in them losing their homes due to the bank repossessing them. The recession hit close to home for the Tories, effecting the middle class not just the working class of the industrial north.