From 1819 to COVID-19, 200 Years of American Financial Panics offers a comprehensive historical account of financial panics in America. Through a meticulous dissection of historical events and the benefit of his experience handling many of the country’s largest bank failures, Thomas P. Vartanian reveals why so many more devastating financial crises have occurred in America than nearly every other country in the world. Vartanian provides extensive evidence of how the collision of policy-driven government actions and profit-oriented business performance have disrupted market equilibrium and made the U.S. system of financial oversight less effective and more susceptible to missing the signs of future financial crises, including policies that: imposed tariffs and chartered dozens of poorly regulated, uncapitalized state banks that facilitated panics in the 19th century; created ambivalence over whether gold, silver or paper money should be the preeminent form of payment, creating the perfect conditions for the depression of 1893; kept interest rates low to assist the central banks in England, Germany and France, allowing an overheated U.S. stock market to shift into overdrive and crash in 1929; planted the seeds of the S&L crisis more than twenty years before when Congress imposed artificial limits on deposit interest rates and the states capped mortgage interest rates to increase homeownership; pressured banks in the 1990’s to increase mortgage lending to increase home ownership while the Fed engaged in loose monetary policies, adding fuel to the greatest economic crisis since the Great Depression. 200 Years of American Financial Panics dissects financial crises in a way not attempted before, concluding that the pyramid of governmental oversight intended to foster economic safety and stability has been turned on its head to its detriment. Vartanian provides readers with a unique list of practical solutions. Most importantly, his analysis of financial technology, from artificial intelligence and Big Data to cryptocurrencies and quantum computing, forecasts how financial markets and government regulation will change. 200 Years of American Financial Panics is a must read for anyone that wants to understand their money, financial markets, and how they are going to change in the future.
Like most aspects of modern existence, more and more of our financial lives have migrated to the digital realm. With the benefits of ease that our Internet allows us, that transition also raises numerous – and dangerous – threats to national security, our money, and the systems we use to store and transfer it. In TheUnhackable Internet, financial services and technology expert Thomas P. Vartanian exposes the vulnerabilities of the many networks that we rely on today as well as the threats facing the integrity of our national security and financial services sector. From cyberattacks by foreign adversaries like China and Russia, the explosion of cryptocurrency, the advancement of ransomware, phishing, surveillance apps, spying software, and logic bombs, along with the increasing savvy and daring shown by Internet hackers, the next financial panic is likely to be delivered to us through use or abuse of technology. The Unhackable Internet describes how society can remake an Internet that was never conceived as a secure environment and badly tainted by the original sin of substandard coding. Vartanian argues for increasing the use of private and offline network infrastructures, controlling the ownership of Internet infrastructure, and imposing enhanced authentication, governance, and enforcement standards. This online universe would look more like our analog lives, authenticating all digital traffic to a real person and removing any virtual traveler that violated the new rules of the road. The Unhackable Internet poses a challenge to America: take the lead and create a coalition of democratic nations to implement financial cyber strategies or be left with no counterweight short of military power to respond to those who weaponize technology. This comprehensive and compelling book makes it clear that nothing less than the control of global economies is up for grabs, and that how we use technology is our choice.
This pocket guide provides an in-depth introduction to 29 of the most widely used data sets in social work and the social sciences. Readers will find information about each data set, how to locate and use the data, what types of questions the data may answer, and the key variables in the data.
This slim volume is one of a number of excellent guides published as part of Oxford's "Pocket Guide to Social Work Research Methods" series. Compact but comprehensive, it provides a thorough introduction to one of the fastest-growing genres of research in the social work field today: secondary data analysis. After an all-too-brief summary of what constitutes this genre and a balanced analysis of its advantages and disadvantages, Vartanian (Bryn Mawr) provides guidelines for those considering the feasibility and appropriateness of using secondary data in their work. He then offers extensive summaries of 29 of the most commonly used secondary data sets. For all of the data sets, he provides a full and complete description, including key characteristics and where and how to access them. He also provides, most valuably, citations to examples of how researchers have recently used them in their empirical work. Rather redundantly, a similar package of information appears in appendixes at the end of the book. This is an admirable contribution whose only detractions are the rather random and poorly identified screenshots and other "pictures" interspersed throughout the text. Those seriously considering using secondary data analysis in their research should find this book immensely beneficial. Summing Up: Highly recommended. Graduate students and faculty/researchers. Graduate Students; Researchers/Faculty. Reviewed by J. C. Altman.
Like most aspects of modern existence, more and more of our financial lives have migrated to the digital realm. With the benefits of ease that our Internet allows us, that transition also raises numerous – and dangerous – threats to national security, our money, and the systems we use to store and transfer it. In TheUnhackable Internet, financial services and technology expert Thomas P. Vartanian exposes the vulnerabilities of the many networks that we rely on today as well as the threats facing the integrity of our national security and financial services sector. From cyberattacks by foreign adversaries like China and Russia, the explosion of cryptocurrency, the advancement of ransomware, phishing, surveillance apps, spying software, and logic bombs, along with the increasing savvy and daring shown by Internet hackers, the next financial panic is likely to be delivered to us through use or abuse of technology. The Unhackable Internet describes how society can remake an Internet that was never conceived as a secure environment and badly tainted by the original sin of substandard coding. Vartanian argues for increasing the use of private and offline network infrastructures, controlling the ownership of Internet infrastructure, and imposing enhanced authentication, governance, and enforcement standards. This online universe would look more like our analog lives, authenticating all digital traffic to a real person and removing any virtual traveler that violated the new rules of the road. The Unhackable Internet poses a challenge to America: take the lead and create a coalition of democratic nations to implement financial cyber strategies or be left with no counterweight short of military power to respond to those who weaponize technology. This comprehensive and compelling book makes it clear that nothing less than the control of global economies is up for grabs, and that how we use technology is our choice.
From 1819 to COVID-19, 200 Years of American Financial Panics offers a comprehensive historical account of financial panics in America. Through a meticulous dissection of historical events and the benefit of his experience handling many of the country’s largest bank failures, Thomas P. Vartanian reveals why so many more devastating financial crises have occurred in America than nearly every other country in the world. Vartanian provides extensive evidence of how the collision of policy-driven government actions and profit-oriented business performance have disrupted market equilibrium and made the U.S. system of financial oversight less effective and more susceptible to missing the signs of future financial crises, including policies that: imposed tariffs and chartered dozens of poorly regulated, uncapitalized state banks that facilitated panics in the 19th century; created ambivalence over whether gold, silver or paper money should be the preeminent form of payment, creating the perfect conditions for the depression of 1893; kept interest rates low to assist the central banks in England, Germany and France, allowing an overheated U.S. stock market to shift into overdrive and crash in 1929; planted the seeds of the S&L crisis more than twenty years before when Congress imposed artificial limits on deposit interest rates and the states capped mortgage interest rates to increase homeownership; pressured banks in the 1990’s to increase mortgage lending to increase home ownership while the Fed engaged in loose monetary policies, adding fuel to the greatest economic crisis since the Great Depression. 200 Years of American Financial Panics dissects financial crises in a way not attempted before, concluding that the pyramid of governmental oversight intended to foster economic safety and stability has been turned on its head to its detriment. Vartanian provides readers with a unique list of practical solutions. Most importantly, his analysis of financial technology, from artificial intelligence and Big Data to cryptocurrencies and quantum computing, forecasts how financial markets and government regulation will change. 200 Years of American Financial Panics is a must read for anyone that wants to understand their money, financial markets, and how they are going to change in the future.
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