Preview

Summary: The Gramm-Rudman-Hollings Act

Good Essays
Open Document
Open Document
203 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Summary: The Gramm-Rudman-Hollings Act
Due to the financial situation of the United States of America, the amount of debt could send the entire globe into a recession greater than any other in history. If for any reason our economy were to crumble, it would be in our best interest to implement a regulatory system in order to keep out financial industries in check. When the Gramm-Rudman-Hollings act was passed, it “allowed banked allowed banks to engage in trading profitable derivatives that they sold to investors. These mortgage-backed securities needed mortgages as collateral. The derivatives created an insatiable demand for more and more mortgages.”[1] Prior to this bill being passed, ”The Community Reinvestment act incentivized banks to give out subprime loans for one hundred
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Satisfactory Essays

    The Norrsi-Laguardia Act (NLA)
    • 150 Words
    • 1 Page

    The Norrsi-Laguardia Act (NLA)

    The RLA has basic concepts: avoid any interruption to commerce; ensure an unhindered right of employees to join labor union, which was added in 1934; provide complete independence of organization by both parties to carry out the purpose of the RLA. The Norrsi-Laguardia Act (NLA) assist in the prompt and orderly settlement of disputes covering of pay, work rules, or working conditions; assist in the prompt and orderly settlement of disputes growing out of grievances or out of the interpretation or application of existing contracts covering the rates of pay, work rules or working conditions. The NLRA, also known as the Wagner Act, the purpose is to protect the rights of employees, support collective bargaining, and put an end to the abusive practices…

    • 150 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Powerful Essays

    The Effectiveness of Dodd-Frank Act
    • 1640 Words
    • 5 Pages

    The Effectiveness of Dodd-Frank Act

    Why did the Dodd-Frank Act come about? In 2008 the economy suffered a great recession and Dodd-Frank was suppose to be the answer, the tool to fix the financial problems in the U.S. if you will. Dodd-Frank put financial regulations that were said would turn the recession around and help prevent a recurrence on financial institutions. There are said to be many reasons why the economy started to plummet some say the housing market was the reason for the downward spiral of the economy and others say the banking system had a huge hand in the recession as well along with credit reporting agencies that falsely reported scores. There are many contributing factors that could have been the reason for the financial downturn of the U.S. and the Dodd-Frank Act is supposed to be the answer for regulating banks and implementing consumer protection. In…

    • 1640 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    MGMT 520 Midterm
    • 11734 Words
    • 33 Pages

    MGMT 520 Midterm

    The U.S. financial crisis has not gone unnoticed in the international world. The impact has been worldwide. The value of securities tied to real estate fell, which damaged financial institutions globally. New rules regarding appraisers, appraisals, and bank oversight have gone into place, but not in time to save many investors and foreign banks from huge losses. Many people think that this crisis could have been avoided if better regulations had been in place. Some feel that the U.S. bank/lending and borrowing ethical standards…

    • 11734 Words
    • 33 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    The Dodd-Frank Reform
    • 348 Words
    • 2 Pages

    The Dodd-Frank Reform

    The Dodd-Frank Reform was passed in 2010. The purpose of this legislation is to change risky lending practices. One of the causes of the 2007 financial crisis was the high volume of high risk loans that were being bought and sold by financial institutions. The Dodd-Frank Reform would prevent financial institutions from issuing predatory and high risk loans.…

    • 348 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Dodd Frank Consumer Protection Act
    • 489 Words
    • 2 Pages

    Dodd Frank Consumer Protection Act

    In 2010 President Obama passed a consumer protection act formally titled the “Dodd-Frank Wall Street Reform and Consumer Protection Act.” This act was passed after the 2008 financial crisis to try to “promote the financial stability of the United States by improving accountability and transparency in the financial system,” and to put an end to ‘‘too big to fail’’ banks. Although the act was built on good intentions, Dodd-Frank has accomplished little of its intended purposes, and has only followed through in ways damaging to consumers.…

    • 489 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Essay On The Robison-Patman Act
    • 576 Words
    • 3 Pages

    Essay On The Robison-Patman Act

    As an amendment to the Clayton Antitrust Act, the Robison-Patman Act originated as a result of price fixing and biased preferential treatment by suppliers to specific members of their client base. Suppliers looking to aid in the development or expansion of a favored supplier may provide better prices than other customers of the same purchasing rate and quality, per the Federal Trade Commission, “This kind of price discrimination may give favored customers an edge in the market that has nothing to do with their superior efficiency” (Federal Trade Commission, n.d.). The Act penalizes suppliers for this anti-competitive behavior, thus deters future organizations from conducting themselves in this manner. According to the American Bar Association,…

    • 576 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    House Bill 2 Case Summary
    • 947 Words
    • 4 Pages

    House Bill 2 Case Summary

    Charlotte City Council filed a case to ensure that visitors, workers, and residents will not be discriminated from any aspect. Governor McCrory signed House Bill 2 that blocked the local governments from passing act with nondiscrimination defending for the LGBT citizens and needs transgender citizens to use bathrooms and locker rooms that align with their biological sex. Based on the case, the Charlotte City Council approved the suggested amendments to the city’s Nondiscrimination Ordinances on February 22, 2016. The amendments added family status, gender expression, sexual orientation, gender identity, and marital status to the list of the protected traits in the previous Nondiscrimination Ordinances. However, the Nondiscrimination…

    • 947 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Senate Bill 794: Policy Analysis
    • 728 Words
    • 3 Pages

    Senate Bill 794: Policy Analysis

    Child Welfare Services is a sensitive topic that requires a vast amount of legislation and attention because it is a duty to provide for a minor regardless of their situation. On March 3rd, 2015, Senate Bill 794 was introduced by the Committee on Human Services as well as Senators McGuire, Berryhill, Hancock, Liu, and Nguyen during California’s 2015-2016 regular session. The bill would amend Section 7950 of the Family Code, to add Section 1522.44 to the Health and Safety Code.…

    • 728 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    The Wagner, Taft-Hartley, And Landrum-Martin Act
    • 868 Words
    • 4 Pages

    The Wagner, Taft-Hartley, And Landrum-Martin Act

    Answering the Questions The role of unions in today’s workplace is still has the responsibility to ensure the rights of workers, and provide an opportunity for their voices to be heard. Issues that are addressed by labor unions include work assignment, compensation, benefits and working conditions. Unions benefit their members (monopoly power), at the expense of higher cost, and requiring responses to employees grievances “voice power”. As a result of little job creation, debt crises, growing fiscal deficits and difficulties in states and local governments a “new normal” to the role of the labor unions have been created.…

    • 868 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    The Edmund-Tucker Act
    • 98 Words
    • 1 Page

    The Edmund-Tucker Act

    The Edmund-Tucker Act was push through Congress in order to end Polygamy in the Utah Territory. Although, Utah had enough residents to become a state and had tried numerous times, it had failed because the Church of the Latter-Day Saints refused to end polygamy. President Author signed the bill to protect the institute of marriage. This new movement would outlaw cohabitation, if a man lived with two or more women, who are not his mother or his daughters, he could be charged with polygamy, even if there was no marriage license, with more than the first wife .…

    • 98 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    The HSAW Act
    • 175 Words
    • 1 Page

    The HSAW Act

    The HSAW act has four main parts. The first part I'm going to tell you about is to do with HSC and HSE which takes care of the major events and general duties such as having the power to create codes of practices, penalties and enforcements. Basically this act is in place to prevent dangers in the work place. The second and third parts are about the employment medical advice-giving service and building rules, these are so workers are given the right information and training in the health and safety at work, and also it deals with aspects such as safe designs, fire safety, sound insulation and easy access. And finally the fourth part of this section covers some other general duties that employers at the workplace have, doing safety checks if all (things…

    • 175 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    The Privacy Act Of 1974 And The Gramm-Billey Act
    • 160 Words
    • 1 Page

    The Privacy Act Of 1974 And The Gramm-Billey Act

    The Privacy Act of 1974 and the Gramm-Leach-Billey Act (1999) prohibits the disclosure of a record or sensitive data about an individual from a system of records absent the written consent of the individual. The lack of protection for my data will make me reconsider setting up an account with a stored credit card number because my information can be used or shared with various fraudulent companies without your consent. The advantage of storing your credit card number is faster online transactions. Storing your credit card number is only worth the risk of having your information stolen if it is with a company you trust will keep your card secured and in the event they can’t or don’t, they own up and pay its customers restitution. No because…

    • 160 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Powerful Essays

    The Dodd-Frank Act
    • 1636 Words
    • 7 Pages

    The Dodd-Frank Act

    This topic of discussion focuses on the Dodd-Frank Act and how it came into existence? Those who were affected by the law, to include the Acts forced regulations on all U.S. financial institutions, private hedge funds, government controlling, compliances, and its protection. The Dodd-Frank Wall Street Reform and Consumer Protection Act, now called The Dodd-Frank Act is a U.S. federal mandated law, one in which was created by the Obama administration and signed into federal law on July 21, 2010. The Act was implemented partly due to the financial crisis of 2008. According to USA government “The Act was created to place regulations on the financial industry that government controls.” The agency created was the Financial Stability Oversight Council,…

    • 1636 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    The Intolerable Act
    • 296 Words
    • 2 Pages

    The Intolerable Act

    The intolerable acts were laws that were forced on the colonist because of the Boston Tea party.…

    • 296 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Best Essays

    Foreclosure Crisis
    • 1262 Words
    • 6 Pages

    Foreclosure Crisis

    The mortgage crisis we are experiencing in the United States today is already ranking as among the most serious economic events since the Great Depression of the 1930’s. Hardly a day goes by without a story in the newspaper or on the cable news stations reporting about the increase in the number of foreclosures across the United States. The effects of this crisis have spread across all financial markets, where in the end all of us are paying a price for this home mortgage crisis. When the housing market collapsed, so did the availability of credit which our economy depends upon. The home mortgage crisis, the financial crisis and overall economic crisis all need to address by the federal government to bring us out of this recession.…

    • 1262 Words
    • 6 Pages
    Best Essays
    Read More

Related Topics