Word: wakefulness
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...billion “Too Big to Fail” threshold that regulators use to classify any financial institution as systemically significant and hence subject to added supervision. Given these two facts, SWIFTs have not been subject to the strict capital and liquidity requirements imposed on banks in wake of the global financial crisis of 2007-2010. In the meantime, the major banks, unable to compete with the low funding costs of the SWIFTs, have stuck to more traditional lines of business, which, while steadily profitable, have shrunk considerably in recent years...
...clearinghouse industry has been another victim of the crisis. Clearinghouses grew rapidly in the wake of 2010 reforms that targeted the over-the-counter derivatives market. Clearinghouses were meant to bring a greater level of stability and transparency to derivatives trading. But this industry has become more fragmented than originally envisioned, and some argue that competition among clearinghouses has led to a “race to the bottom” whereby the clearinghouses require insufficient collateral from the SWIFTs they deal with. The Houston Power House is said to have large, uncollateralized exposures with Magna-SWIFT, and observers estimate...
Facing a monumental $220 million budget deficit in the wake of a 30 percent drop in the endowment at the end of 2008, Smith began a multi-year plan to find additional funds and cut back in certain areas, asking units to surrender some of their institutional independence in service of a common financial goal...
Riviello said that he hopes to revitalize the relationship between the police force and the community, in the wake of last July’s arrest of Harvard African-American Studies Professor Henry Louis Gates, Jr. which led to national media attention, and ended with Gates and the officer who arrested him, Sgt. James Crowley, sharing a beer at the White House with President Barack Obama...
Contrary to Senator McCain’s suddenly aggressive arguments, enforcement-only legislation will do little to decrease crime and violence, especially in the wake of recent events. Cries for state militarization and mass deportation are not only ineffective and inhumane but also dangerous in the current social climate. Folks who support SB 1070 and “completing the danged fence” in the spirit of law and order misunderstand the situation; without addressing the other dimensions of unauthorized immigration, bringing down the hammer right now will threaten public safety...