Bank Failures Cause a Global Crisis: How the Complexities of United States Mortgage Securities Devastated Banks and Made the Banking Crises Global

2020 ◽  
pp. 201-225
Author(s):  
Christian Dinesen
Keyword(s):  
United States ◽  
Banking Crises ◽  
Bank Failures ◽  
Global Crisis ◽  
Mortgage Securities

Exploiting a Crisis: Abortion Activism and the COVID-19 Pandemic

2021 ◽  
pp. 1-16
Author(s):  
Kate Hunt
Keyword(s):  
United States ◽  
Social Movement ◽  
Media Coverage ◽  
The United States ◽  
Social Movement Organizations ◽  
Medical Procedure ◽  
Political Debate ◽  
Global Crisis ◽  
Opportunity Structures ◽  
Movement Organizations

How do social movement organizations involved in abortion debates leverage a global crisis to pursue their goals? In recent months there has been media coverage of how anti-abortion actors in the United States attempted to use the COVID-19 pandemic to restrict access to abortion by classifying abortion as a non-essential medical procedure. Was the crisis “exploited” by social movement organizations (SMOs) in other countries? I bring together Crisis Exploitation Theory and the concept of discursive opportunity structures to test whether social movement organizations exploit crisis in ways similar to elites, with those seeking change being more likely to capitalize on the opportunities provided by the crisis. Because Twitter tends to be on the frontlines of political debate—especially during a pandemic—a dataset is compiled of over 12,000 Tweets from the accounts of SMOs involved in abortion debates across four countries to analyze the patterns in how they responded to the pandemic. The results suggest that crisis may disrupt expectations about SMO behavior and that anti- and pro-abortion rights organizations at times framed the crisis as both a “threat” and as an “opportunity.”

The Impeccable System

Money ◽  
2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
James K. Galbraith
Keyword(s):  
United States ◽  
Federal Reserve ◽  
The United States ◽  
Central Banks ◽  
Bank Failures ◽  
Federal Reserve System ◽  
Woodrow Wilson ◽  
System P ◽  
The Impact ◽  
Reserve System

This chapter examines the impact of the Federal Reserve System on money and banking in the United States. The Federal Reserve System was created in 1913 by virtue of the Federal Reserve Act passed by Congress and signed by President Woodrow Wilson. The Federal Reserve Act (1913) provided not for one but for as many as twelve central banks. It was conceived as an answer to the great panics, but in this respect the System was notably defective. Nor was the System better as an antidote for an alarming epidemic of bank failures. Furthermore, the most severe inflation ever in peacetime occurred under its watch. The chapter considers the successes and failures of the Federal Reserve System and looks at another body established to study the management of money in the United States: the National Monetary Commission.

scholarly journals Forty Years of Leverage: What Have We Learned About Sovereign Debt?

2014 ◽  
Vol 104 (5) ◽  
pp. 266-271
Author(s):  
Peter Boone ◽  
Simon Johnson
Keyword(s):  
United States ◽  
Financial Crises ◽  
Sovereign Debt ◽  
Best Practice ◽  
Debt Crisis ◽  
The United States ◽  
Banking Crises ◽  
Sovereign Debt Crisis ◽  
Negative Effects ◽  
Regulatory Constraints

Financial crises frequently increase public sector borrowing and threaten some form of sovereign debt crisis. Until recently, high income countries were thought to have become less vulnerable to severe banking crises that have lasting negative effects on growth. Since 2007, crises and attempted reforms in the United States and Europe indicate that advanced countries remain acutely vulnerable. Best practice from developing country experience suggests that regulatory constraints on the financial sector should be strengthened, but this is hard to do in countries where finance has a great deal of political power and cultural prestige, and where leverage is already high.

Global external debt during COVID-19 pandemic

2021 ◽  
pp. 54
Author(s):  
Igor Balyuk
Keyword(s):  
United States ◽  
European Union ◽  
Developing Countries ◽  
Great Britain ◽  
Economic Crisis ◽  
External Debt ◽  
The United States ◽  
The European Union ◽  
Global Crisis

The article contains an analysis of the dynamics and structure of the external debt of various countries and groups of countries in the context of the coronavirus pandemic. The authors conclude that at the beginning of 2021, the ratio of external debt to GDP almost reached the level that was noted on the eve of the global financial and economic crisis of 2008-2009. A trigger for a new global crisis may be the exacerbation of problems in one or more segments of the economy of the European Union, Great Britain, the United States, or a number of large developing countries.

scholarly journals Recovery from Financial Crises: Evidence from 100 Episodes

2014 ◽  
Vol 104 (5) ◽  
pp. 50-55 ◽  
Author(s):  
Carmen M. Reinhart ◽  
Kenneth S. Rogoff
Keyword(s):  
United States ◽  
Business Cycles ◽  
Financial Crises ◽  
The United States ◽  
Banking Crises ◽  
Real Income ◽  
Per Capita Gdp ◽  
Advanced Economies ◽  
Per Capita ◽  
Post War

We examine the evolution of real per capita GDP around 100 systemic banking crises. Part of the costs of these crises owes to the protracted nature of recovery. On average, it takes about 8 years to reach the pre-crisis level of income; the median is about 6.5 years. Five to six years after the onset of crisis, only Germany and the United States (out of 12 systemic cases) have reached their 2007-2008 peaks in real income. Forty-five percent of the episodes recorded double dips. Post-war business cycles are not the relevant comparator for the recent crises in advanced economies.

The Great Compromise

Money ◽  
2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
James K. Galbraith
Keyword(s):  
United States ◽  
Financial System ◽  
The United States ◽  
Bank Failures ◽  
Free Banking ◽  
Negative Consequences ◽  
Monetary System ◽  
National Bank ◽  
New System ◽  
Civilized World

This chapter examines the dual monetary system that existed in the hundred years after 1832, a period characterized by basic compromise. The compromise which followed the demise of the Second Bank of the United States had some negative consequences. Recurrently, and reflecting the euphoria stimulated by other causes, banks were created and loans were made with abandon. People then started coming to the banks for their money. These were the panics. The chapter considers the turbulent years after 1832, focusing on the emergence of free banking, the resulting bank failures and greenbacks, agitation for more greenbacks, the pressure for the coinage of cheap silver, and the recurrent panics—all of which combined to make the financial system of the United States, according to Andrew Carnegie, “the worst in the civilized world.” The passage of the National Bank Act (1863) establishing a new system of national banks is also discussed.

Sign in / Sign up

Export Citation Format

Share Document