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New ‘Audit the Fed’ Bill Calls for Full Transparency from Central Bank

first_img Audits Federal Reserve U.S. Senate 2015-01-28 Brian Honea Related Articles Home / Daily Dose / New ‘Audit the Fed’ Bill Calls for Full Transparency from Central Bank Data Provider Black Knight to Acquire Top of Mind 2 days ago January 28, 2015 1,242 Views Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago U.S. Senator Rand Paul (R-Kentucky) has reintroduced bipartisan legislation that calls for more transparency from the U.S. Federal Reserve Board of Governors, according to an announcement on Paul’s website.The Federal Reserve Transparency Act of 2015, or S. 264, commonly known as Audit the Fed, calls for elimination of the restrictions placed on the Government Accountability Office (GAO)’s audits of the Fed. The bill also mandates that several divisions of the Fed be subject to Congressional oversight, including credit facilities, securities purchases, and quantitative easing activities.”A complete and thorough audit of the Fed will finally allow the American people to know exactly how their money is being spent by Washington,” Paul said. “The Fed currently operates under a cloak of secrecy and it has gone on for too long. The American people have a right to know what the Federal Reserve is doing with our nation’s money supply. The time to act is now.”One of the provisions of the bill calls for an audit of the review of the loan files of homeowners in foreclosure: “The Comptroller General of the United States shall conduct an audit of the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board of Governors of the Federal Reserve System against supervised financial institutions.”Conservatives have criticized the Fed’s methods of attempting to stimulate the economy since the 2008 financial crisis and have repeatedly called for more transparency from the central bank. Legislation similar to the bill introduced by Paul on Wednesday has been proposed before by former U.S. Representative and Senator Paul’s father, Ron Paul (R-Texas) in 2009, and Representative Paul Broun (R-Georgia) last year. Broun’s bill easily passed in September 2014 with bipartisan support in the House by a 333 to 92 vote (with 106 Democrats and 227 Republicans voting in favor) but died when it was not voted on in the Senate before the end of the session. A similar bill was introduced in the House earlier this month by Representative Thomas Massie (R-Kentucky).Senator Rand Paul’s new Audit the Fed bill has 30 co-sponsors, only one of which – Mazie Hirono of Hawaii – is a Democrat. One of the new bill’s co-sponsors is Senator Ted Cruz (R-Texas).”At long last, it’s time for a complete audit of the Federal Reserve, so the American people can fully understand the scope and consequences of the agency’s extraordinary monetary policy since 2008,” Cruz said in a prepared statement. “The Fed has expanded its balance sheet fivefold, yet economic growth is still tepid, businesses are sitting on cash, and median income and household wealth are depressed. . .Enough is enough. The Federal Reserve needs to fully open its books so Congress and the American people can see what has been going on. This is a crucial first step to getting back to a more stable dollar and a healthy economy for the long term.”Another of the Fed’s policies conservatives have criticized is the near-zero savings interest rates. The Fed announced during the first Federal Open Market Committee meeting of the year on Wednesday that it is in no hurry to raise those interest rates, saying, “Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy.””Americans are living with near-zero interest rates on their savings while entrepreneurs and small businesses report credit is still hard to get,” Cruz said. “Quantitative easing has contributed to the dollar’s volatility in recent years, which destabilizes the financial system and distorts investment. Other than elevating the stock market and key prices such as oil until lately, the Fed’s policies have not resulted in a long-term cure for our sick economy.”Democrats have repeatedly resisted any legislation that calls for further scrutiny of the Fed’s activity. Last month, Fed Chair Janet Yellen said she would “forcefully” oppose any type of Audit the Fed bill, telling reporters that “I do think central bank independence is very important. . . to make sure we can make the decisions we think are best.”center_img About Author: Brian Honea New ‘Audit the Fed’ Bill Calls for Full Transparency from Central Bank The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Audits Federal Reserve U.S. Senate in Daily Dose, Featured, Government, News Previous: North Carolina Publications Honor Hutchens Law Firm Attorneys Next: GSE Investors Gain Victory in Court of Federal Claims Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

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For Waterfront Properties, Is Location Everything?

first_img David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Collateral Analytics Home Prices Home Values real estate waterfront properties 2018-04-03 David Wharton The old real estate adage insists that location is everything, but how much truth does that hold when it comes to waterfront properties? A new study by Collateral Analytics puts waterfront real estate under the microscope to determine what factors impact whether a waterfront view is a boon or a burden.The Collateral Analytics study, authored by Dr. Michael Sklarz and Dr. Norman Miller, does indeed show a positive impact on home values when it comes to proximity to bodies of water, but that impact varies significantly depending on the type of waterfront and various other factors. The impact shown is also lesser than that founds in some earlier studies of the same sort.Oceanfront property tends to receive more of a value bump than property adjacent to rivers or lakes. A 2011 study by Steve Conroy and Jennifer Milosch entitled “An Estimation of the Coastal Premium for Residential Housing Prices in San Diego County” theorized that some of these price increases may be tied to temperature moderations provided by proximity to the ocean. The 2011 study found that coastal homes located within 500 feet of a coastline saw a value increase of an estimated 101.9 percent, compared to homes further than six miles from the coast. Between 500 and 1,000 feet from the coastline, that bump decreases to 62.8 percent, and “the effect declines rapidly,” according to the 2011 report.Collateral Analytics’ new study examined “a large sample of 5-digit ZIP Codes that include both waterfront and off-water sales,” and categorized the waterfront property into three types: ocean and bay front, lakefront, and riverfront. Collateral Analytics found that oceanfront properties exhibited premiums nearly 45 percent higher than comparable homes within the same ZIP code that were not located on the ocean. For lakefront homes, the premium increase amounted to a little over 25 percent; for riverfront homes, it was 24 percent.Waterfront premiums also vary quite a bit depending on overall location. According to Collateral Analytics’ findings, a lakefront property in Georgia gets a premium percentage increase more than three times larger than that of a riverfront property. In Louisiana, however, the disparity between riverfront and lakefront property is much less pronounced.The study also highlights the impacts of factors such as whether a property is prone to flooding or not.You can read the full Collateral Analytics report by clicking here.Editor’s note: This story originally misattributed the authors of the Collateral Analytics study. The authors have been corrected above. April 3, 2018 3,892 Views The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Journal, Market Studies, News About Author: David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / For Waterfront Properties, Is Location Everything? Previous: The Policy Makers Next: HUD Secretary Ben Carson Reflects on Fair Housing Act Tagged with: Collateral Analytics Home Prices Home Values real estate waterfront properties Demand Propels Home Prices Upward 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Related Articles For Waterfront Properties, Is Location Everything? Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

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When building a sandcastle, you can’t beat the ocean

first_imgMake sure you’re doing enough great work.by: Michael Hudson, Ph.D.During his keynote presentation at CEO/Executive Team Network last month, Michael Bungay Stanier shared some very important and valuable ideas about work. Specifically, he challenged the audience to think about how much bad work, good work, and great work they were doing.Senior partner of Box of Crayons and author of Do More Great Work, Stanier reminded attendees that 90 percent of what we do is subconscious and that 50 percent is routine, and offered these key definitions:Bad Work — best depicted by the acronym WOMBAT—that is Waste Of Money, Bandwidth, And Time.Good Work — work within your job description that there is typically more of than you can actually do and that is fueled by false urgency (as if you are trying to beat the ocean while building a sandcastle).Great Work — working this category is about staying ahead of the curve. It is strategic, innovative and makes a difference.Using these definitions, Stanier challenged the audience to complete this very simple exercise:1. Draw a large circle on a blank piece of paper.2. Divide the circle into sections representing the percentage of time you are spending doing bad work, good work, and great work. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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