The Czechs and Slovaks in American Banking (Classic Reprint)
The Czechs and Slovaks in American Banking (Classic Reprint)

Author: Thomas Capek

Publisher: Forgotten Books

Published: 2017-10-13

Total Pages: 64

ISBN-13: 9781528523905

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Excerpt from The Czechs and Slovaks in American Banking In this Banker's Directory the authors present material which, they believe, will serve a double purpose. Com munity and Americanization workers will learn from it of a social aspect. Of our Czech and Slovak fellow-citizens little known to them. The statistical data which it con tains will form a useful guide and reference for Chambers of Commerce, banking institutions, import and export merchants, and students of economics. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The Color of Money
The Color of Money

Author: Mehrsa Baradaran

Publisher: Harvard University Press

Published: 2017-09-14

Total Pages: 382

ISBN-13: 0674982304

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“Read this book. It explains so much about the moment...Beautiful, heartbreaking work.” —Ta-Nehisi Coates “A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family.” —The Atlantic “Extraordinary...Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America.” —Ezra Klein When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. With the civil rights movement in full swing, President Nixon promoted “black capitalism,” a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. In this timely and eye-opening account, Baradaran challenges the long-standing belief that black communities could ever really hope to accumulate wealth in a segregated economy. “Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why.” —Los Angeles Review of Books “A must read for anyone interested in closing America’s racial wealth gap.” —Black Perspectives

How the Other Half Banks
How the Other Half Banks

Author: Mehrsa Baradaran

Publisher: Harvard University Press

Published: 2015-10-06

Total Pages: 337

ISBN-13: 0674495446

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The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect

Prague in Black
Prague in Black

Author: Chad Bryant

Publisher: Harvard University Press

Published: 2007-05-31

Total Pages: 406

ISBN-13: 9780674024519

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On the heels of the Munich Agreement, Hitler’s troops marched into Prague and established the Protectorate of Bohemia and Moravia. Nazi leaders were determined to make the region entirely German. Bryant explores the origins and implementation of these plans as part of a wider history of Nazi rule and its eventual consequences for the region.

The Banks Did It
The Banks Did It

Author: Neil Fligstein

Publisher: Harvard University Press

Published: 2021-06-08

Total Pages: 334

ISBN-13: 0674249356

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A comprehensive account of the rise and fall of the mortgage-securitization industry, which explains the complex roots of the 2008 financial crisis. More than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culpritsÑfinancial instruments, traders, regulators, capital flowsÑyet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major US banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about? The Banks Did It carefully takes the reader through the development of a banking industry dependent on mortgage securitization. Fligstein documents how banks, with help from the government, created the market for mortgage securities. The largest banksÑCountrywide Financial, Bear Stearns, Citibank, and Washington MutualÑsoon came to participate in every aspect of this market. Each firm originated mortgages, issued mortgage-backed securities, sold those securities, and, in many cases, acted as their own best customers by purchasing the same securities. Entirely reliant on the throughput of mortgages, these firms were unable to alter course even when it became clear that the market had turned on them in the mid-2000s. With the structural features of the banking industry in view, the rest of the story falls into place. Fligstein explains how the crisis was produced, where it spread, why regulators missed the warning signs, and how banksÕ dependence on mortgage securitization resulted in predatory lending and securities fraud. An illuminating account of the transformation of the American financial system, The Banks Did It offers important lessons for anyone with a stake in avoiding the next crisis.

Evangelicals Incorporated
Evangelicals Incorporated

Author: Daniel Vaca

Publisher: Harvard University Press

Published: 2019-12-03

Total Pages: 337

ISBN-13: 0674243978

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A new history explores the commercial heart of evangelical Christianity. American evangelicalism is big business. For decades, the world’s largest media conglomerates have sought out evangelical consumers, and evangelical books have regularly become international best sellers. In the early 2000s, Rick Warren’s The Purpose Driven Life spent ninety weeks on the New York Times Best Sellers list and sold more than thirty million copies. But why have evangelicals achieved such remarkable commercial success? According to Daniel Vaca, evangelicalism depends upon commercialism. Tracing the once-humble evangelical book industry’s emergence as a lucrative center of the US book trade, Vaca argues that evangelical Christianity became religiously and politically prominent through business activity. Through areas of commerce such as branding, retailing, marketing, and finance, for-profit media companies have capitalized on the expansive potential of evangelicalism for more than a century. Rather than treat evangelicalism as a type of conservative Protestantism that market forces have commodified and corrupted, Vaca argues that evangelicalism is an expressly commercial religion. Although religious traditions seem to incorporate people who embrace distinct theological ideas and beliefs, Vaca shows, members of contemporary consumer society often participate in religious cultures by engaging commercial products and corporations. By examining the history of companies and corporate conglomerates that have produced and distributed best-selling religious books, bibles, and more, Vaca not only illustrates how evangelical ideas, identities, and alliances have developed through commercial activity but also reveals how the production of evangelical identity became a component of modern capitalism.

The Golden Age of the Classics in America
The Golden Age of the Classics in America

Author: Carl J Richard

Publisher: Harvard University Press

Published: 2009-07-23

Total Pages: 273

ISBN-13: 0674054490

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In a masterful study Carl Richard explores how the Greek and Roman classics became enshrined in American antebellum culture. For the first time, knowledge of the classics extended beyond aristocratic males to the middle class, women, African Americans, and frontier settlers. The Civil War led to a radical alteration of the educational system in a way that steadily eroded the preeminence of the classics.

The Czech and Slovak Federal Republic
The Czech and Slovak Federal Republic

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1990-10-31

Total Pages: 84

ISBN-13: 9781557751690

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This paper is based on an internal report prepared by the IMF staff in connection with the application of the Czech and Slovak Federal Republic (Czechoslovakia) for membership in the IMF. The paper surveys the economic system that had developed up to the time of the reforms begun in 1987 and outlines the economy's performance during 1945–1985. It then discusses the economic developments of 1985–1990, with separate sections on output, prices, public finance, money, and the balance of payments. Prices served mainly as an instrument of central planning: each price was set independently and a change in one price had no influence on other prices. The annual foreign exchange plan, derived from the state plan, strictly controlled foreign exchange transactions. It specified imports and exports of goods and services by enterprises for the convertible and nonconvertible area. The exact modalities of the denationalization scheme have not yet been determined. However, consideration is being given to a scheme whereby state enterprises would be transformed into joint stock companies, and “ownership vouchers” would be distributed to the population which would entitle their holders to purchase stock in these companies.

The Great American Housing Bubble
The Great American Housing Bubble

Author: Adam J. Levitin

Publisher: Harvard University Press

Published: 2020-06-09

Total Pages: 401

ISBN-13: 0674979656

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The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.

The Two Faces of American Freedom
The Two Faces of American Freedom

Author: Aziz Rana

Publisher: Harvard University Press

Published: 2014-04-07

Total Pages: 428

ISBN-13: 0674266552

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The Two Faces of American Freedom boldly reinterprets the American political tradition from the colonial period to modern times, placing issues of race relations, immigration, and presidentialism in the context of shifting notions of empire and citizenship. Today, while the U.S. enjoys tremendous military and economic power, citizens are increasingly insulated from everyday decision-making. This was not always the case. America, Aziz Rana argues, began as a settler society grounded in an ideal of freedom as the exercise of continuous self-rule—one that joined direct political participation with economic independence. However, this vision of freedom was politically bound to the subordination of marginalized groups, especially slaves, Native Americans, and women. These practices of liberty and exclusion were not separate currents, but rather two sides of the same coin. However, at crucial moments, social movements sought to imagine freedom without either subordination or empire. By the mid-twentieth century, these efforts failed, resulting in the rise of hierarchical state and corporate institutions. This new framework presented national and economic security as society’s guiding commitments and nurtured a continual extension of America’s global reach. Rana envisions a democratic society that revives settler ideals, but combines them with meaningful inclusion for those currently at the margins of American life.