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Topic Review
Biography
Topic Review
San Antonio Independent School District V. Rodriguez
San Antonio Independent School District v. Rodriguez, 411 U.S. 1 (1973), was a case in which the Supreme Court of the United States held that San Antonio Independent School District's financing system, which was based on local property taxes, was not an unconstitutional violation of the Fourteenth Amendment's equal protection clause. The majority opinion, reversing the District Court, stated that the appellees did not sufficiently prove a textual basis, within the US Constitution, supporting the principle that education is a fundamental right. Urging that the school financing system led to wealth-based discrimination, the plaintiffs had argued that the fundamental right to education should be applied to the States, through the Fourteenth Amendment. The Court found that there was no such fundamental right and that the unequal school financing system was not subject to strict scrutiny.
727
11 Nov 2022
Topic Review
Counterparty (Technology)
Counterparty is a financial platform for creating peer-to-peer financial applications on the bitcoin blockchain. The protocol specification and all Counterparty software is open source. The reference client is counterpartyd and a web wallet called Counterwallet showcases all protocol features. The protocol’s native currency, XCP, is the fuel that powers Counterparty. It is slightly deflationary, with approximately 2.6 million XCP having been created by burning Bitcoins in January 2014. Counterparty provides users with the world's first functioning decentralized digital currency exchange, as well as the ability to create their own virtual assets, issue dividends, create price feeds, bets and contracts for difference.
530
11 Nov 2022
Topic Review
Games for Windows – Live
Games for Windows – Live or GFWL (trademarked as Games for Windows – LIVE) was an online gaming service used by Games for Windows–branded PC titles that enables Windows PCs to connect to Microsoft's Live service. Users, each with a unique Gamertag (the Microsoft username service for gaming that began on Xbox Live), are able to play online, keep track of their friends' status, send and receive messages, gain and keep track of Achievements and associated Gamerscore, voice chat across platforms (removed in 2010), and much more. Some games allow for cross-platform play, such as Shadowrun, putting Windows players against Xbox 360 players. The service is open to third-party developers, but they must be able to meet certain Technical Certification Requirements (TCRs), which include (but are not limited to): game ratings, total number of Gamerscore points, content, game profiles, and Live connectivity. Games for Windows – Live games must also meet standard Games for Windows (games that do not have Live support) TCRs. The same developer support infrastructure is available as with the Xbox 360. Assistance to developers is provided through the Microsoft XNA Developer Connection.
1.3K
11 Nov 2022
Topic Review
Financial Crisis of 2007–08
The financial crisis of 2007–08, also known as the global financial crisis and the 2008 financial crisis, was a severe worldwide economic crisis considered by many economists to have been the most serious financial crisis since the Great Depression of the 1930s, to which it is often compared. It began in 2007 with a crisis in the subprime mortgage market in the United States , and developed into a full-blown international banking crisis with the collapse of the investment bank Lehman Brothers on September 15, 2008. Excessive risk-taking by banks such as Lehman Brothers helped to magnify the financial impact globally. Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world financial system. The crisis was nonetheless followed by a global economic downturn, the Great Recession. The Asian markets (China, Hong Kong, Japan, India, etc.) were immediately impacted and volatilized after the U.S. sub-prime crisis. The European debt crisis, a crisis in the banking system of the European countries using the euro, followed later. In 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act was enacted in the US following the crisis to "promote the financial stability of the United States". The Basel III capital and liquidity standards were adopted by countries around the world.
3.4K
11 Nov 2022
Topic Review
Price Stability Properties and Volatility of Precious Metals
It was recognized that stock markets can be impacted by shocks in financial market uncertainties, while precious metal markets are steadier secure resources that will not be highly impacted by outside shocks. Herein, the focus of the present research is on the price stability properties of precious metals during the 1997 Asian Financial Crisis, 2007–2008 Global Financial Crisis, and 2010 Eurozone Crisis.
762
11 Nov 2022
Topic Review
Consequences of Geopolitics and COVID-19 on Economic Performance
The COVID-19 crisis and the war between Russia and Ukraine affects the world economy badly. The western countries’ economic sanctions on Russia and the Russian government’s reverse sanctions on western countries create pressure on the world economy. Countries over the world registered less economic growth, high inflation rate, and high government debt in 2022 compared to the fiscal period of 2019–2021. The emerging economies and developing countries of Europe were badly affected by the crisis as the level of inflation rate hit 27 percent and the economic growth of the region registered a negative 2.9 percent. It also found rising interest rates, exchange rate volatility, risk of stagflation, and rising energy prices are the short-term risks to economies. The issue of sustainable development goals and green aspects, risk of hyperinflation, and risk of economic recession are the long-term strategic challenges or risks to economies. Bailout and debt relief were found to be necessary for those countries badly affected by the crisis. Policymakers should facilitate financial policies and should switch from general assistance to targeted support of viable enterprises.
665
11 Nov 2022
Topic Review
Globalization of the Football Transfer Market
The football transfer market has been affected by the increased freedom of movement, trade and communications between different countries since the 1990s. This globalization of the transfer market has impacted the way in which football clubs trade with one another and the relationship between players and their clubs. When professional leagues were first founded, there were significant restrictions preventing footballers from joining whomever they liked. These limitations were put in place by both the clubs these players were tied to, and the leagues in which they played. International labor movement regulations and the difficulties of scouting less developed nations also hindered the development of a liberalized transfer market.
1.3K
11 Nov 2022
Topic Review
Loan-Out Corporation
A Loan-Out corporation, also known as a Loan-Out Company, or Personal service corporation, is a form of United States business entity in which the creator is an 'employee' whose services are loaned out by the corporate body. The creator of the corporation are typically the sole shareholder, and thus the corporation is used as a means to reduce their personal liability, protect their assets and exploit taxation advantages. Loan-Out corporations are especially prominent in the entertainment and professional sports industries, as the creator's services are typically performed on individual contract bases, and receive large, irregular sums of income throughout the year. The corporate body is engaged by external third parties to fulfil services, rather than the individual directly. Consequently, it is the creator's Loan-Out Corporation that is referred to and liable in contracts to perform the services required.
381
10 Nov 2022
Topic Review
Qualifying Investor Alternative Investment Fund (QIAIF)
Qualifying Investor Alternative Investment Fund or QIAIF is a Central Bank of Ireland regulatory classification established in 2013 for Ireland's five tax-free legal structures for holding assets. The Irish Collective Asset-management Vehicle or ICAV is the most popular of the five Irish QIAIF structures, and was designed in 2014 to rival the Cayman Island SPC; it is the main tax-free structure for foreign investors holding Irish assets. In 2018, the Central Bank of Ireland expanded the Loan Originating QIAIF or L–QIAIF regime which enables the five tax-free structures to be used for closed-end debt instruments. The L–QIAIF is Ireland's main Debt–based BEPS tool as it overcomes the lack of confidentiality and tax secrecy of the Section 110 SPV. It is asserted that many assets in QIAIFs and LQIAIFs are Irish assets being shielded from Irish taxation. Irish QIAIFs and LQIAIFs can be integrated with Irish corporate base erosion and profit shifting ("BEPS") tax tools to create confidential routes out of the Irish tax system to Ireland's main Sink OFC, Luxembourg. In March 2019, the UN identified Ireland's "preferential tax regimes" for foreign funds on Irish assets as affecting the human rights of tenants in Ireland.
662
10 Nov 2022
Topic Review
California Electricity Crisis
The California electricity crisis, also known as the Western U.S. energy crisis of 2000 and 2001, was a situation in which the United States state of California had a shortage of electricity supply caused by market manipulations and capped retail electricity prices. The state suffered from multiple large-scale blackouts, one of the state's largest energy companies collapsed, and the economic fall-out greatly harmed Governor Gray Davis's standing. Drought, delays in approval of new power plants,:109 and market manipulation decreased supply. This caused an 800% increase in wholesale prices from April 2000 to December 2000.:1 In addition, rolling blackouts adversely affected many businesses dependent upon a reliable supply of electricity, and inconvenienced many retail consumers. California had an installed generating capacity of 45 GW. At the time of the blackouts, demand was 28 GW. A demand-supply gap was created by energy companies, mainly Enron, to create an artificial shortage. Energy traders took power plants offline for maintenance in days of peak demand to increase the price. Traders were thus able to sell power at premium prices, sometimes up to a factor of 20 times its normal value. Because the state government had a cap on retail electricity charges, this market manipulation squeezed the industry's revenue margins, causing the bankruptcy of Pacific Gas and Electric Company (PG&E) and near bankruptcy of Southern California Edison in early 2001.:2–3 The financial crisis was possible because of partial deregulation legislation instituted in 1996 by the California Legislature (AB 1890) and Governor Pete Wilson. Enron took advantage of this deregulation and was involved in economic withholding and inflated price bidding in California's spot markets. The crisis cost between United States dollar 40 and $45 billion.:3–4
1.2K
10 Nov 2022
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