Land and Labor, 1866-1867 examines the remaking of the South's labor system in the tumultuous aftermath of emancipation. Using documents selected from the National Archives, this volume of Freedom: A Documentary History of Emancipation depicts the struggle of unenfranchised and impoverished ex-slaves to control their own labor, establish their families as viable economic units, and secure independent possession of land. Among the topics addressed are the dispossession of settlers in the Sherman reserve, the reordering of labor on plantation and farm, nonagricultural labor, new relations of credit and debt, long-distance labor migration, and the efforts of former slaves to rent, purchase, and homestead land. The documents--many of them in the freed people's own words--speak eloquently for themselves, while the editors' interpretive essays provide context and illuminate major themes.
Previous banking histories have focused on the money supply function of early American banks and its connection to the recurrent boom-bust cycle of the antebellum era. This history focuses on the credit generating function of American banks It demonstrates that banks aggressively promoted development rather than passively followed its course. Using previously unexploited data, Professor Bodenhorn shows that banks helped to advance the development of incipient industrialization. Additionally, he shows that banks formed long-distance relationships that promoted geographic capital mobility, thereby assuring that short-term capital was directed in socially desirable directions, that is, where it was most in demand. He then traces those institutional and legal developments that allowed for this capital mobility. The result was that America was served by an efficient system of financial intermediaries by the mid-nineteenth century.
We have just experienced the worst financial crash the world has seen since the Great Depression of the 1930s. While real economies in general did not crash as they did in the 1930s, the financial parts of the economy certainly did, or, at least, came very close to doing so. Hundreds of banks in the United States and Europe have been closed by their supervisory authorities, forcibly merged with stronger partners, nationalized or recapitalized with the tax payers' money. Banks and insurance companies had, by mid 2010, already written off some 2000 billion dollars in credit write-downs on loans and securities. In this book, Johan Lybeck draws on his experience as both an academic economist and a professional banker to present a detailed yet non-technical analysis of the crash. He describes how the crisis began in early 2007, explains why it happened and shows how it compares to earlier financial crises.
A hands-on guide to the theory and practice of bank credit analysis and ratings
In this revised edition, Jonathan Golin and Philippe Delhaise expand on the role of bank credit analysts and the methodology of their practice. Offering investors and practitioners an insider's perspective on how rating agencies assign all-important credit ratings to banks, the book is updated to reflect today's environment of increased oversight and demands for greater transparency. It includes international case studies of bank credit analysis, suggestions and insights for understanding and complying with the Basel Accords, techniques for reviewing asset quality on both quantitative and qualitative bases, explores the restructuring of distressed banks, and much more.
A uniquely practical guide to bank credit analysis as it is currently practiced around the world, The Bank Credit Analysis Handbook, Second Edition is a must-have resource for equity analysts, credit analysts, and bankers, as well as wealth managers and investors.
Walter Cohen argues that the history of European literature and of each of its standard periods can be illuminated by comparative consideration of the different literary languages within Europe and of the relationship of European literature to world literature. The global history of literature from the ancient to the present can be divided into five main, overlapping stages. European literature emerges from world literature before the birth of Europe--during Antiquity, whose Classical languages are the heirs to the complex heritage of the Old World. That legacy is later transmitted by Latin to the various vernaculars. The distinctiveness of this process lies in the gradual displacement of Latin by a system of intravernacular leadership dominated by the Romance languages. An additional unique feature is the global expansion of Western Europe's languages and characteristic literary forms, especially the novel, beginning in the Renaissance. This expansion ultimately issues in the reintegration of European literature into world literature, in the creation of today's global literary system. It is in these interrelated trajectories that the specificity of European literature is to be found. This ongoing relationship of European literature to other parts of the world emerges most clearly at the level not of theme or mimesis but of form. One conclusion is that literary history possesses a certain systematicity. Another is that language and literature are not only the products of major historical change but also its agents. Such claims, finally, depend on rejecting the opposition between the general and the specific, between synthetic and local knowledge.
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