Hello all,
I havent' been reading much here. But this seems to be a hot topic.
So I thought I'd pass along this posting from GovDoc-L (Listserv for Government Document Librarians)
Both Main library and UT have full time "gov doc" librarians. I've been known to pick the brains of the one downtown...he is good!'s
I have scanned through both reports, a little on the technical side, but they seem solid.
Am going to print them off, and have my husband help me out a bit (I'm a biology major who did badly in econ, he has a BA in business and 40+years as an accountant and following "the market".
Thinking this would be a good topic to be presented at either the public library or the university. Have some local expert explain what is going on..specifically the content of these two documents...
Ok..here's the posting...
Date: Fri, 26 Sep 2008 15:14:13 -0400
From: "Sleeman, Bill" <bsleeman@LAW.UMARYLAND.EDU>
Subject: CRS Reports on Subprime mortgage and government intervention
The Thurgood Marshall Law Library has recently added two timely
Congressional Research Service (CRS) research summaries to its Special
Collections & Digital Projects collection. The Cost of Government
Financial Interventions, Past and Present and Proposal to Allow Treasury
to Buy Mortgage-Related Assets to Address Financial Instability have
been written in response to the financial turmoil occurring in the
United States financial markets.
The Cost of Financial Interventions, Past and Present attempts to answer
questions about the recent financial interventions by the government in
the business of private corporations. Sources of funding and the costs
to the taxpayer are discussed. The AIG, Fannie Mae/Freddie Mac, and Bear
Stearns cases are used as examples. A table of a Summary of Current and
Historical Financial Interventions by the Federal Government is also
supplied.
http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RS22965_09232008.pdf
Proposal to Allow Treasury to Buy Mortgage-Related Assets to Address
Financial Instability explains Treasury Secretary Paulsen's [draft of
9/21/2008] plan for legislative authorization to allow direct
intervention in the economy. This report analyzes the proposals by
answering frequently asked questions.
http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RS22957_09222008.pdf
Although the documents are short - each is six pages long - they contain
important information that will help readers understand the severe
stress under which the United States financial markets have been
operating. They should be standard reading for anyone interested in the
subprime mortgage debacle and the ongoing financial crisis.
Bill Sleeman,
Assistant Director
for Technical Services
Thurgood Marshall Law Library
The University of Maryland School of Law
501 W. Fayette Street
Baltimore, MD. 21201
401-706-0783
bsleeman@law.umaryland.edu