Essentials of Borrowing
For most Americans, the savings and loan industry is defined by the fraud, ineptitude and failures of the 1980s. However, these events overshadow a long history in which thrifts played a key role in helping thousands of households buy homes. First appearing in the 1830s savings and loans, then known as building and loans, encourage their working-class members to adhere to the principles of thrift and mutual co-operation as a way to achieve the 'American Dream' of home ownership. This book traces the development of this industry from its origins as a movement of a loosely affiliated collection of institutions into a major element of America's financial markets. It also analyses how diverse groups of Americans, including women, ethnic Americans and African Americans, used thrifts to improve their lives and elevate their positions in society. Finally the overall historical perspective sheds new light on the events of the 1980s and analyses the efforts to rehabilitate the industry in the 1990s.
The terms historically used to describe them include "bums," "hoboes," "migrants," "street people," "transients," "tramps," and "vagrants." Just as varied as the words we have used to describe them are the reasons many people have found themselves living in the land of opportunity without permanent residence. The book considers homelessness and its distinctive character in three periods of American history: the era of tramps and hoboes in the late 1800s-early 1900s, the era of transients and migrants in the 1930s, and the era of homeless and "street" people in the last 40 years. It clarifies the multiple meanings of the word "homeless" today and demonstrates that homelessness is a symptom of more than one problem, leading to confusion about the issue of homelessness and hampering attempts to reduce its occurrence. Author Neil Larry Shumsky, PhD, also postulates that the treatment of homelessness in England before the colonization of North America laid the foundation of pervasive American attitudes and practices.
This book examines the development of the international market for syndicated credits during the past three decades. It brings together practitioners' and academics' views on this form of financing and provides original answers to previously little-explored research questions: what determines banks' participation choices and supply? What influences the pricing of emerging country loans, particularly in times of crises? What are the differences with industrialised country loans and bonds? With its thought-provoking insights, the book is of particular value for students, practitioners and academics.
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Essentials of Borrowing