Search results
Results from the WOW.Com Content Network
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush on 3 October 2008.
The Natural Resources Defense Council (NRDC) is a United States–based 501(c)(3) non-profit international environmental advocacy group, with its headquarters in New York City and offices in Washington, D.C., San Francisco, Los Angeles, Chicago, Bozeman, India, and Beijing. [1]
More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have ...
Among the important catalysts of the subprime crisis were the influx of money from the private sector, the banks entering into the mortgage bond market, government policies aimed at expanding homeownership, speculation by many home buyers, and the predatory lending practices of the mortgage lenders, specifically the adjustable-rate mortgage, 2 ...
Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), was a landmark decision of the United States Supreme Court that set forth the legal test used when U.S. federal courts must defer to a government agency's interpretation of a law or statute. [1] The decision articulated a doctrine known as "Chevron deference". [2]
The report was the product of months of consultation with government departments and the White House, consolidating 2,000 pages of proposals. [3] NPR promised to save the federal government about $108 billion: $40.4 billion from a "smaller bureaucracy", $36.4 billion from program changes, and $22.5 billion from streamlining contracting ...
Critics dispute the Federal Reserve's use of interest rates to distinguish prime from subprime loans. They say that subprime loan estimates based on use of the high-interest-rate proxy are distorted because government programs generally promote low-interest rate loans – even when the loans are to borrowers who are clearly subprime. [39]
The First New Deal (1933–1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act.The Federal Emergency Relief Administration (FERA) provided US$500 million (equivalent to $11.8 billion in 2023) for relief operations by states and cities, and the short-lived CWA gave locals money to operate make-work projects from 1933 to 1934. [2]