Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, universal banks promoted unsustainable booms that led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of 2007-09. Both times, governments were forced to arrange costly bailouts of universal banks. Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for over four decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999. Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left in place a dangerous financial system dominated by universal banks. Universal banks continue to pose unacceptable risks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status. In Taming the Megabanks, Arthur Wilmarth argues that we must again separate banks from securities markets to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth's comprehensive and detailed analysis demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. Giant universal banks would no longer dominate our financial system or receive enormous subsidies. A more decentralized and competitive financial system would encourage banks and securities firms to fulfill their proper roles as servants - not masters - of Main Street businesses and consumers.
Political Handbook of the World annually provides up-to-date political information on all the world's countries in a balanced, accurate and comprehensive manner. A singular and authoritative reference work for nearly 70 years, each new volume builds on the research and scholarship of previous editions, offering rare insight into stories making headlines, judiciously outlining contemporary conflicts and analysing current foreign policy within the informed context of past events and decisions. It is considered to be the single-volume reference work of choice for libraries, diplomats, academic faculties, international corporations, and others needing accurate, timely information.
Voters cannot answer simple survey questions about politics. Legislators cannot recall the details of legislation. Jurors cannot comprehend legal arguments. Observations such as these are plentiful and several generations of pundits and scholars have used these observations to claim that voters, legislators, and jurors are incompetent. Are these claims correct? Do voters, jurors, and legislators who lack political information make bad decisions? In The Democratic Dilemma, Professors Arthur Lupia and Mathew McCubbins explain how citizens make decisions about complex issues. Combining insights from economics, political science, and the cognitive sciences, they seek to develop theories and experiments about learning and choice. They use these tools to identify the requirements for reasoned choice - the choice that a citizen would make if she possessed a certain (perhaps, greater) level of knowledge. The results clarify debates about voter, juror, and legislator competence and also reveal how the design of political institutions affects citizens' abilities to govern themselves effectively.
With more than 200 entries on countries and territories throughout the world, this bestselling volume is the most authoritative one-stop source for findingfacts and analysis on each country's governmental and political makeup.
This comprehensive text is the first to introduce evocative autoethnography as a methodology and a way of life in the human sciences. Using numerous examples from their work and others, world-renowned scholars Arthur Bochner and Carolyn Ellis, originators of the method, emphasize how to connect intellectually and emotionally to the lives of readers throughout the challenging process of representing lived experiences. Written as the story of a fictional workshop, based on many similar sessions led by the authors, it incorporates group discussions, common questions, and workshop handouts. The book: describes the history, development, and purposes of evocative storytelling; provides detailed instruction on becoming a story-writer and living a writing life; examines fundamental ethical issues, dilemmas, and responsibilities; illustrates ways ethnography intersects with autoethnography; calls attention to how truth and memory figure into the works and lives of evocative autoethnographers.
Diverse specialised neuroglial cells guarantee the development, preservation, and health of the central nervous system, the peripheral nervous system, the enteric nervous system, and the special senses. In the central nervous system, it is the astrocytes, oligodendrocytes, and microglia that safeguard nerve cell function and integrity that controls all behaviours and encompasses the cerebral cortex of the brain which is the root of humanity. In the peripheral nervous system, Schwann cells play the leading role, together with satellite glial cells of the sensory and autonomic ganglia, ensuring correct communication between the organs and tissues with the brain and the spinal cord. In the enteric nervous system, specialised enteric glial cells maintain all aspects of gastrointestinal function. Then there are distinctive glial cells of the special senses that ensure how the body perceives and reacts to its environment. In pathology, neuroglia strive to protect the diverse cellular components of the nervous system and are responsible for a proactive programme of posttraumatic restructuring that is aimed at recovery of life-sustaining function. Neuroglia: Function and Pathology provides a highly original and comprehensive account of the physiology and pathophysiology of glial cells in the central and peripheral nervous systems. The first part of the book provides a far-reaching description of glial cell form and function, from their evolution in invertebrates to their complexity in humans, encompassing the developmental origin of the varied glial cell types and their diversity of morphology, molecular biology and cellular physiology. The second part of the book is devoted to an all-embracing evaluation of glial cell pathophysiology, commencing with definitive explanations of the fundamental pathologies of the main glial cell types, and ending in a systematic examination of glial contributions to specific neurological diseases. This book emphasises the central roles played by the different classes of neuroglial cells in the progression and outcome of neurological disorders of the central and peripheral nervous systems and highlights potential of glial cells as therapeutic targets. The book contains more than 2500 key references from over 150 years of glial research and is superbly illustrated with over 350 original and explanatory full colour figures that describe the diverse characteristics and properties of glial cells in health and disease. Under the same cover, this book combines an authoritative reference book for research and clinical neuroscientists and at the same time serves as an instructive textbook for students of neuroscience, from undergraduates to postgraduates. - Single volume covering key aspects of glial cell physiology and pathology - In depth overview of the history of glial cell research - Comprehensive review of glial cell physiology and pathology - Authoritative special chapters on the major neurological diseases - Full colour throughout, with 360 illustrations
This book is among the few to develop in detail the proposition that international law on the subject of interstate force is better derived from practice than from treaties. Mark Weisburd assembles here a broad body of evidence to support practice-based rules of law on the subject of force. Analyses of a particular use of force by a state against another state generally begin with the language of the Charter of the United Nations. This approach is seriously flawed, argues Weisburd. States do not, in fact, behave as the Charter requires. If the legal rule regulating the use of force is the rule of the Charter, then law is nearly irrelevant to the interstate use of force. However, treaties like the Charter are not the only source of public international law. Customary law, too, is binding on states. If state behavior can be shown to conform generally to what amount to tacit rules on the use of force, and if states generally enforce such rules against other states, then the resulting pattern of practice strongly supports the argument that the use of force is affected by law at a very practical level. This work aims to demonstrate that such patterns exist and to explain their content. Weisburd discusses over one hundred interstate conflicts that took place from 1945 through 1991. He focuses on the behavior of the states using force and on the reaction of third parties to the use of force. He concentrates upon state practice rather than upon treaty law and does not assume a priori that any particular policy goal can be attributed to the international legal system, proceeding instead on the assumption that the system's goals can be determined only by examining the workings of the system.
Political Handbook of the World annually provides up-to-date political information on all the world's countries in a balanced, accurate and comprehensive manner. A singular and authoritative reference work for nearly 70 years, each new volume builds on the research and scholarship of previous editions, offering rare insight into stories making headlines, judiciously outlining contemporary conflicts and analysing current foreign policy within the informed context of past events and decisions. It is considered to be the single-volume reference work of choice for libraries, diplomats, academic faculties, international corporations, and others needing accurate, timely information.
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