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Limiting Central Government Budget Deficits: International Experiences
This report focuses on how major developed and emerging-market country governments, particularly the G-20 and Organization for Economic Cooperation and Development (OECD) countries, limit their fiscal deficits.
Outsourcing and Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data
Foreign direct investment is sparking a national debate. Local communities compete for investment projects, while many of the residents of those communities fear losing their jobs to foreign outsourcing. Some opponents argue that such job losses have disproportionately negative impact on local communities. Economists generally argue that free and unimpeded international capital flows have a positive impact on both domestic and foreign economies. This report provides an overview of CRS Report RL32461, Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data, that analyzes the extent of direct investment into and out of the economy and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Outsourcing and Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data
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Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data
Report that addresses the issue of jobs outsourcing by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data
This report addresses the issue of jobs outsourcing by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data
This report addresses the issue of jobs outsourcing by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data
This report addresses the debate of job creation in the U.S. versus job outsourcing and its effects on the economy by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data
The impact of foreign direct investment on U.S. employment is provoking a national debate regarding U.S. job creation versus outsourcing. Many economists argue that there is little evidence to support the notion that the overseas investment activities of U.S. multinational companies play a significant role in the rate at which jobs are created in the U.S. economy. They argue that the source of job creation in the economy is rooted in the combination of macroeconomic policies the nation has chosen, the rate of productivity growth, and the availability of resources. This report addresses these issues by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.
Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues
This report discusses the trade adjustment assistance (TAA) for Firms program, which provides technical assistance to trade-affected firms to help them develop strategies to remain competitive in the changing international economy.
U.S. Direct Investment Abroad: Trends and Current Issues
This report discusses the United States direct investment in other countries through many multinational corporations. Tables showing the rates of investment in various countries by U.S. companies and discussion of the economic effects of the practice on the U.S. job market are included.
U.S. Trade Deficit and the Impact of Rising Oil Prices
This report provides an estimate of the initial impact of the rising oil prices on the nation's merchandise trade deficit. Petroleum prices continued to rise sharply in 2008, at one time reaching more than $140 per barrel of crude oil. At the same time the average monthly volume of imports of energy-related petroleum products fell slightly.
The United States as a Net Debtor Nation: Overview of the International Investment Position
This report outlines concerns about the US net international investment position because of the role foreign investors are playing in US capital markets and the potential for large outflows of income and services payments. Some observers also argue that the US reliance on foreign capital inflows leaves the economy vulnerable to financial crises.
The United States as a Net Debtor Nation: Overview of the International Investment Position
This report provides an overview of the international investment position and the United states as a net debtor nation.
Federal Deposit and Share Insurance: Proposals for Change
This report provides information about the Proposals for Change on Federal Deposit and Share Insurance since deposit insurance for holders of accounts at banks and thrift institutions are under scrutiny for the last several congresses.
Glass-Steagall Act: Commercial vs. Investment Banking
This report discusses debate over reform of the Nation's financial structure in the 100th Congress includes re-examination of "the separation of banking and commerce." This separation was mandated by the Glass-Steagall Act (part of the Banking Act of 1933); and was carried forward into the Bank Holding Company Act of 1956, as amended in 1970 and thereafter. The resulting isolation of banking from securities was designed to (1) maintain the integrity of the banking system; (2) prevent self-dealing and other financial abuses; and (3) limit stock market speculation. By half a century later, the "wall" it created seemed to be crumbling, as bankers created new financial products resembling securities, and securities firms innovated new financial products resembling loans and deposits. The ongoing process of "financial deregulation" has evoked calls for Congress to give depository institutions new powers, especially in the securities field. Financial deregulation in the United Kingdom, Canada, and Japan has put additional pressure on Congress to re-examine this Act. Concerns over a seemingly fragile system of depository institutions persist, however, tending to place counter-pressure on Congress to maintain the Act.
Should Banking Powers Expand into Real Estate Brokerage and Management?
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Should Banking Powers Expand into Real Estate Brokerage and Management?
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Should Banking Powers Expand into Real Estate Brokerage and Management?
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Should Banking Powers Expand into Real Estate Brokerage and Management?
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Should Banking Powers Expand into Real Estate Brokerage and Management?
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Should Banking Powers Expand into Real Estate Brokerage and Management?
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Cyber Supply Chain Risk Management: An Introduction
This report reviews cyber supply chain risks, discusses ways in which they are currently managed, and provides issues that Congress may consider.
Commerce, Justice, Science, and Related Agencies: FY2010 Appropriations
This report provides an overview of actions taken by Congress to provide FY2011 appropriations for Commerce, Justice, Science, and Related Agencies (CJS). It also provides an overview of FY2010 appropriations for agencies and bureaus funded under the CJS bill.
Commerce, Justice, Science, and Related Agencies: FY2011 Appropriations
This report provides an overview of actions taken by Congress to provide FY2011 appropriations for Commerce, Justice, Science, and Related Agencies (CJS). It also provides an overview of FY2010 appropriations for agencies and bureaus funded under the CJS bill.
Commerce, Justice, Science, and Related Agencies: FY2011 Appropriations
This report provides an overview of actions taken by Congress to provide FY2011 appropriations for Commerce, Justice, Science, and Related Agencies (CJS). It also provides an overview of FY2010 appropriations for agencies and bureaus funded under the CJS bill.
September 11 Insurance Litigation
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Executive Compensation in Bankruptcy: The Fairness and Accountability in Reorganizations Act
S. 2556 and its companion bill, H.R. 5113, 109th Congress, 2nd Sess. (2006), introduced by Senator Bayh and Representative Conyers, respectively, are entitled the Fairness and Accountability in Reorganizations Act of 2006. The legislation, according to its sponsors, is intended to “ensure that workers are treated more fairly during [bankruptcy] reorganizations by limiting executive compensation deals and requiring corporations to provide a more accurate picture of their holdings before attempting to modify collective bargaining agreements or promised health benefits.” This report surveys the bill’s provisions.
Accounting and Management Problems at Freddie Mac
This report summarizes the extent of accounting and management problems at Freddie Mac. The report highlights the issues of selecting policies to report constant earnings, and undertaking certain transactions for the sake of creating a facade of reported earnings. Finally, the report discusses the consequences of these problems by stating that many of the Freddie Mac's executives have been replaced, fines were issued, and a lawsuit occurred.
Accounting and Management Problems at Freddie Mac
This report summarizes the extent of accounting and management problems at Freddie Mac. The report highlights the issues of selecting policies to report constant earnings, and undertaking certain transactions for the sake of creating a facade of reported earnings. Finally, the report discusses the consequences of these problems by stating that many of the Freddie Mac's executives have been replaced, fines were issued, and a lawsuit occurred.
Accounting Problems at Fannie Mae
This report summarizes the critiques the Office of Federal Housing Enterprise Supervision (OFHEO) made of accounting practices at Fannie Mae. The OFHEO's two main issues are under the domains of: amortization of discounts, premiums, fees involved in the purchase of home mortgages, and the other being accounting for financial derivatives contracts. The report emphasizes that these discrepancies created a false image of the company's earnings and in one case was the cause of the company's executives to receive bonuses.
Accounting Problems at Fannie Mae
This report summarizes the critiques the Office of Federal Housing Enterprise Supervision (OFHEO) made of accounting practices at Fannie Mae. The OFHEO's two main issues are under the domains of: amortization of discounts, premiums, fees involved in the purchase of home mortgages, and the other being accounting for financial derivatives contracts. The report emphasizes that these discrepancies created a false image of the company's earnings and in one case was the cause of the company's executives to receive bonuses.
Accounting Problems at Fannie Mae
This report summarizes the critiques the Office of Federal Housing Enterprise Supervision (OFHEO) made of accounting practices at Fannie Mae. The OFHEO's two main issues are under the domains of: amortization of discounts, premiums, fees involved in the purchase of home mortgages, and the other being accounting for financial derivatives contracts. The report emphasizes that these discrepancies created a false image of the company's earnings and in one case was the cause of the company's executives to receive bonuses.
Accounting Problems at Fannie Mae
On September 22, 2004, the Office of Federal Housing Enterprise Supervision (OFHEO) made public a report that was highly critical of accounting methods at Fannie Mae, the government-sponsored enterprise that plays a leading role in the secondary mortgage market. OFHEO charged Fannie Mae with not following generally accepted accounting practices in two critical areas: (1) amortization of discounts, premiums, and fees involved in the purchase of home mortgages and (2) accounting for financial derivatives contracts. According to OFHEO, these deviations from standard accounting rules allowed Fannie Mae to reduce volatility in reported earnings, present investors with an artificial picture of steadily growing profits, and, in at least one case, to meet financial performance targets that triggered the payment of bonuses to company executives. On November 15, 2004, Fannie Mae reported that it was unable to file a third-quarter earnings statement because its auditor, KPMG, refused to sign off on the accounting results. On December 15, 2004, the Securities and Exchange Commission (SEC), after finding inadequacies in Fannie’s accounting policies and methodologies, directed Fannie Mae to restate its accounting results since 2001. Shortly thereafter, the company’s CEO and CFO resigned. It is estimated that earnings since 2001 will be revised downwards by as much as $12 billion, but the formal restatement of earnings is not expected before late 2006.
Averting Financial Crisis
This report is about Averting a Financial crisis.
Barriers to Corporate Fraud: How They Work, Why They Fail
The report focuses on the internal controls on American corporations (including corporate governance, business ethics, managerial structure and compensation, internal counsel, and whistleblowers), as well as external controls (government regulation, external auditors and accountants, and the judicial process). A recurring theme is the limited efficacy of many safeguards and watchdogs in cases of "control fraud," where fraud is directed or abetted by top management, and where unethical or abusive practices may become the organizational norm. Another broad question raised by the report is whether the post-Enron scandals were a one-time event, made possible by the stock market bubble of the 1990s and several other unique historical developments which together constituted a "perfect storm," or whether fraud is a cyclical phenomenon associated with the end of long bull markets.
Causes of the Financial Crisis
The financial crisis that began in 2007 spread and gathered intensity in 2008, despite the efforts of central banks and regulators to restore calm. By early 2009, the financial system and the global economy appeared to be locked in a descending spiral, and the primary focus of policy became the prevention of a prolonged downturn on the order of the Great Depression. This report sets out in tabular form a number of the factors that have been identified as causes of the crisis. The left column of Table 1 below summarizes the causal role of each such factor. The next column presents a brief rejoinder to that argument. The right-hand column contains a reference for further reading.
Causes of the Financial Crisis
This report sets out in tabular form a number of the factors that have been identified as causes of the financial crisis that began in 2007. The left column of Table 1 summarizes the causal role of each such factor. The next column presents a brief rejoinder to that argument. The right-hand column contains a reference for further reading. Where text is given in quotation marks, the reference in the right column is the source, unless otherwise specified.
The Enron Collapse: An Overview of Financial Issues
The sudden and unexpected collapse of Enron Corp. was the first in a series of major corporate accounting scandals that has shaken confidence in corporate governance and the stock market. This report briefly examines the accounting system that failed to provide a clear picture of the firm's true condition, the independent auditors and board members who were unwilling to challenge Enron's management, the Wall Street stock analysts who failed to warn investors of trouble ahead, the rules governing employer stock in company pension plans, and the unregulated energy derivatives trading that was the core of Enron's business.
The Enron Loophole
The Commodity Exchange Act exempts certain energy derivatives contracts from regulation by the Commodity Futures Trading Commission (CFTC). These exemptions are popularly known as the "Enron loophole." Soaring energy prices have raised concerns about whether the CFTC has enough information about these unregulated markets to monitor energy trading in a comprehensive manner. A number of other bills in the 110th Congress would impose new reporting or regulatory requirements on the bilateral energy swaps market, which was not addressed by the Farm Bill.
Financial Risk: An Overview of Market and Policy Considerations
This report sets out a framework for considering the issue of financial risk and its regulation. First, basic concepts and the state of the art in private risk management are discussed. Then, scenarios for financial crises that may require government intervention are explored. The next section deals with the development and the shortcomings of tools available to regulators to prevent or cope with crises. The report ends with an analysis of current trends in financial markets and their implications for risk oversight.
Government-Sposored Enterprises (GSEs): Regulatory Reform Legislation
This report summarizes legislative proposals in the 109th Congress that aim to strengthen the regulation of the government-sponsored enterprises (GSEs), and will be updated as warranted.
Government-Sposored Enterprises (GSEs): Regulatory Reform Legislation
This report summarizes legislative proposals in the 109th Congress that aim to strengthen the regulation of the government-sponsored enterprises (GSEs), and will be updated as warranted.
Hedge Funds: Should They Be Regulated?
This report discusses various causes and effects in regards to the economy if hedge funds were regulated.
Primer on Energy Derivatives and Their Regulation
Prices of oil and other energy commodities are set in futures and derivatives markets, where producers, commercial users, and financial speculators buy and sell contracts whose value is linked to the price of the underlying commodity. Trading occurs on regulated futures exchanges and in a largely unregulated over-the-counter (OTC) market; both forms of trading are global in scope. This report presents basic information about these markets, the instruments traded, the regulatory framework, speculation, and current legislative proposals.
Regulation of Energy Derivatives
After the collapse of Enron Corp. in late 2001, that company's activities came under intense scrutiny. Much of its business consisted of trading financial contracts whose value was derived from changes in energy prices. Enron's derivatives trading was largely "over-the-counter" (OTC) and unregulated: little information about transactions was available. This incident has sparked interest in reform of energy derivatives regulation. This report summarizes energy derivatives regulation and proposed legislation.
Civil Charges in Corporate Scandals
This report lists civil suites filled by federal regulatory agencies charging individuals and corporations with violations related to these scandals. The list is limited to corporations and their offices or employees that fit within the Enron pattern. That is, these are cases that display one or more of the following: irregular accounting and auditing, management self-dealing, conflicts of interests between firms and financial advisors (or Wall Street firms and their costumers), and manipulation or abusive trading in energy markets.
Deregulation of natural gas: The pros and cons
This report discuss about the pros and cons of deregulating the natural gas.
Property Taxes and Urban Development: Selected References.1967,1969, 1970
This report includes selected references from 1967-1969 to property taxes and urban development.
The U.S. Wine Industry and Selected Trade Issues with the European Union
This report provides an overview of issues pertaining to the U.S. wine industry within ongoing U.S. trade negotiations in the proposed Trans-Pacific Partnership (TPP) and the proposed Transatlantic Trade and Investment Partnership (TTIP).
Local Food Systems: Selected Farm Bill and Other Federal Programs
This report examines the federal support of local food systems, such as sales of locally-produced foods which comprise a small but growing part of U.S. agricultural sales.
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