Federal Reserve Bank of New York Staff Reports Shadow Banking Zoltan Pozsar Tobias Adrian Adam Ashcraft Hayley Boesky Staff Report no. 458 July 2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors
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The Cave The allegory of the cave is a story of open mindedness and power of possibility made by Plato. Plato considers the allegory of the cave as an analogy of the human condition for our education or lack of it. So imagine prisoners who spent their entire lives chained deep inside a big cave. The prisoners were chained in a position where they cannot see the activity going on behind them and they are forced to stare endlessly at the cave wall in front of them. Directly behind them is a light
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Job Shadow For my job shadow experience‚ I decided to interview Marc Sleeckx. Marc is the Inn Keeper at the Hide Away Country Inn which is located in Bucyrus‚ Ohio. The Inn Keeper is pretty much what you would call the General Manager of a Hotel since this place is an Inn and only has twelve rooms they call it a Inn Keeper because it sounds a lot more personal. The service that the Hide Away Country Inn provides a consumer with is very similar to a Bed and Breakfast. They have twelve different
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Illustrating Plato’s ‘The Allegory of the Cave’ Camille Rodriguez Mr. Minifie HZT4UR-01 September 28‚ 2009 Bibliography Pacquette‚ Paul G. and Gini-Newman‚ Laura (2003) Philosophy: Questions and Theories. Toronto: McGraw-Hill Ryerson Ltd. ‚ p.4-63‚ 117‚ 440-441 One way to understand philosophy is to draw the meaning of Plato’s story “The Allegory of the Cave” (Philosophy: Q&T‚ p.8). Plato is a 360 BCE Greek philosopher who focused on metaphysics‚ ethics‚ knowledge‚ and
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Upon reading the Allegory of the Cave‚ one can see that Plato is arguing the importance of defining the theory of what is really being seen versus illusions that we see and think are reality. In this play‚ prisoners are chained by their feet and necks so that they can not move their bodies or their heads‚ forcing them to look straight ahead at a stone wall. A fire is burning behind them and people are walking with sculptures across a platform in front of the fire‚ creating projected images onto
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Shadow Banking CEPR‚ October 4‚ 2010 Tobias Adrian‚ FRBNY* with Zoltan Pozsar‚ Adam Ashcraft‚ Hayley Boesky *The views expressed in this presentation are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System. What Are Shadow Banks? • Shadow banks are financial entities that conduct either all three or any one of the classic bank functions: 1. credit transformation‚ 2. maturity transformation‚ 3. liquidity
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In The Shadow of Man Although the distance between Jane and the chimpanzees was too far for her to make any detailed observations‚ she still was not able to get any closer than 500 yards before the chimps fled during her first few months at the Gombe Stream Reserve. She still got up before dawn every morning to make way to the peak‚ where she sat for most of the day waiting for a group of chimps to pass for her to watch with her binoculars. This depressed Jane‚ how could they receive more funding
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a mysterious crypt called the Cemetery of Forgotten Books. This labyrinthine sanctuary houses the books that have lost their owners‚ books that are no longer remembered by anyone. It is here that ten-year-old Daniel Sempere pulls a single book—The Shadow of the Wind—off of the dusty shelve to adopt as his own. With one fateful turn of a page‚ he begins an adventure that will unravel another man’s tragedy and solve a mystery that has already taken many lives and will shape his entire future. Books
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story of “The Allegory of the Cave”‚ written by Plato found in his book The Republic. To sum it up‚ “The Allegory of the Cave” is about prisoners who are locked in a cave and who are forced to watch the shadows of everything that is happening outside of the cave. Surprisingly one prisoner is freed and dragged out the cave against their will. Eyes are difficult to adjust to the very bright light outside the cave. Once they adjust he sees life is more than just dark shadows‚ there are colors and reflections
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Shadow Banking System and its role in the global financial crisis What is shadow banking system Shadow Banking System (SBS) refers to a collection of financial entities‚ infrastructures and practices which support financial transactions but beyond the regulation and monitor from the government or official regulators. Some financial institutions‚ like investment banks‚ may conduct some their transactions in the shadow banking system‚ but they are not SBS institutions themselves. The term was
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