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Full-Text Articles in Policy History, Theory, and Methods

Institutionalizing Rights: The Rise And Fall Of The Human Rights Paradigm In Managing Migration, Todd Scribner Oct 2019

Institutionalizing Rights: The Rise And Fall Of The Human Rights Paradigm In Managing Migration, Todd Scribner

Conference: The Social Practice of Human Rights

In a December 2018 message to a gathering in Rome, Pope Francis challenged attendees to place “human rights at the centre of all policies,” even if it meant going against the grain of popular opinion. The occasion for his message was the 70th anniversary of the Universal Declaration of Human Rights which, at least rhetorically, placed human rights at the center of the international order. Three years after its proclamation, the United Nations used the Universal Declaration as a key pillar on which it built its Convention Related to the Status of Refugees, thus making human rights a key ...


Towards Universal Design For All: Understanding Japan’S Environment From An Accessibility Standpoint, Bailey Lai Sep 2019

Towards Universal Design For All: Understanding Japan’S Environment From An Accessibility Standpoint, Bailey Lai

EnviroLab Asia

No abstract provided.


Lessons Learned: James B. Lockhart Iii, Ben Henken, Dan Thompson Aug 2019

Lessons Learned: James B. Lockhart Iii, Ben Henken, Dan Thompson

Journal of Financial Crises

Insights from discussions with James B. Lockhart III, who was the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency (FHFA) upon the agency’s creation on July 30, 2008. Topics include the conservatorships of Fannie Mae and Freddie Mac as well as other elements of the Bush Administration's 2008 crisis response activities.


Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

As a global financial service provider, JPMorgan Chase (JPM) is supervised by banking regulatory agencies in different countries. Bruno Iksil, the derivatives trader primarily responsible for the $6 billion trading loss in 2012, was based in JPM’s London office. This office was regulated both by the Office of the Comptroller of the Currency (OCC) of the United States (US) and by the Financial Services Authority (FSA), which served as the sole regulator of all financial services in the United Kingdom (UK). Banking regulators in the US and the UK have entered into agreements with one another to define basic ...


Jpmorgan Chase London Whale G: Hedging Versus Proprietary Trading, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale G: Hedging Versus Proprietary Trading, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

In December 2013, the primary United States financial regulatory agencies jointly adopted final rules to implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is often referred to as the “Volcker Rule”. Section 619 prohibits banks from engaging in activities considered to be particularly risky, including proprietary trading and owning hedge funds or private equity funds. Banking regulators designed the final rule against proprietary trading in part to prevent losses like the $6 billion London Whale loss that took place in 2012 at JPMorgan Chase. Given the controversial nature of the Volcker Rule, it is ...


Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick

Journal of Financial Crises

On April 13, 2012, JPMorgan Chase (JPM) Chief Financial Officer Douglas Braunstein took part in a conference call to discuss the bank’s first quarter 2012 earnings. Coming just a week after media reports first questioned the risks taken by JPM derivatives trader Bruno Iksil, Braunstein made a series of assertions about the trades. On May 10, JPM finalized its first quarter financial results, which included some disclosures regarding Iksil’s trading that were substantially different from Braunstein’s statements of April 13. At issue is whether the regulatory filings on April 13 and May 10, as well as verbal ...


Jpmorgan Chase London Whale E: Supervisory Oversight, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale E: Supervisory Oversight, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

As a diversified financial service provider and the largest United States bank holding company, JPMorgan Chase (JPM) is supervised by multiple regulatory agencies. JPM’s commercial bank subsidiaries hold a national charter and therefore are regulated by the Office of the Comptroller of the Currency (OCC). Since the bank’s Chief Investment Office (CIO) invested the surplus deposits of JPM’s commercial bank units, the OCC was also CIO’s primary regulator. During the critical period from late January through March 2012, when CIO traders undertook the failed derivatives strategy that ultimately cost the bank $6 billion, JPM did not ...


Jpmorgan Chase London Whale D: Risk-Management Practices, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale D: Risk-Management Practices, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

JPMorgan Chase (JPM) prided itself on having the best risk-management practices in the financial industry, having survived the 2007-09 financial crisis in better shape than many competitors. Chief Executive Officer Jamie Dimon often spoke of the bank’s “fortress balance sheet.” A keen focus on risk management is vital to JPM’s longevity, as is the case with all highly leveraged financial institutions. However, the JPM Task Force that investigated the $6 billion 2012 London Whale trading loss concluded that risk-management practices at the bank’s Chief Investment Office (CIO), the unit in which the loss occurred, were given less ...


Jpmorgan Chase London Whale C: Risk Limits, Metrics, And Models, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale C: Risk Limits, Metrics, And Models, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

Value at Risk (VaR) is one of the most commonly used ways to measure and monitor market risk. At JPMorgan Chase (JPM), very large derivative positions established by Bruno Iksil in the Synthetic Credit Portfolio (SCP) caused the bank’s Chief Investment Office (CIO) to exceed its VaR limit for four days in a row in January 2012. In response, the CIO changed to a new VaR model on January 30, which appeared to immediately reduce VaR by half. However, JPM soon discovered that this new VaR model had not been properly implemented and the bank went back to using ...


Jpmorgan Chase London Whale B: Derivatives Valuation, Arwin G. Zeissler, Andrew Metrick Aug 2019

Jpmorgan Chase London Whale B: Derivatives Valuation, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

After consistently producing positive results through 2011, the JPMorgan Chase (JPM) traders who oversaw the bank’s Synthetic Credit Portfolio (SCP) grew alarmed by a consistent string of losses beginning in January 2012. (The SCP was maintained by JPM to help hedge default risk and was the source of the 2012 London Whale trading loss.) To minimize the losses reported to their superiors until such time that market prices hopefully turned in their favor, the SCP traders began valuing their largest derivative positions in a manner that was not consistent with Generally Accepted Accounting Principles (GAAP) and JPM policy. The ...


The Temporary Liquidity Guarantee Program: A Systemwide Systemic Risk Exception, Lee Davison Aug 2019

The Temporary Liquidity Guarantee Program: A Systemwide Systemic Risk Exception, Lee Davison

Journal of Financial Crises

In the fall of 2008, short-term credit markets were all but frozen, creating liquidity issues for banks and bank holding companies that could not rollover their debt at reasonable rates. Fearing that the situation would worsen if something was not done, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board invoked, and the Secretary of the Treasury approved, the use of the “systemic risk exception” (SRE) under the Federal Deposit Insurance Corporation Improvement Act of 1991, to provide unprecedented broad-based relief to struggling banks. The SRE permitted the FDIC to depart from its “least-cost” requirement when addressing failing ...


Politics, Identity, And Class Certification On The U.S. Courts Of Appeals, Stephen B. Burbank, Sean Farhang Aug 2019

Politics, Identity, And Class Certification On The U.S. Courts Of Appeals, Stephen B. Burbank, Sean Farhang

Sean Farhang

This article draws on novel data and presents the results of the first empirical analysis of how potentially salient characteristics of Court of Appeals judges influence precedential lawmaking on class certification under Rule 23. We find that the partisan composition of the panel (measured by the party of the appointing president) has a very strong association with certification outcomes, with all-Democratic panels having more than double the certification rate of all-Republican panels in precedential cases. We also find that the presence of one African American on a panel, and the presence of two females (but not one), is associated with ...


Politics, Identity, And Class Certification On The U.S. Courts Of Appeals, Stephen B. Burbank, Sean Farhang Aug 2019

Politics, Identity, And Class Certification On The U.S. Courts Of Appeals, Stephen B. Burbank, Sean Farhang

Faculty Scholarship at Penn Law

This article draws on novel data and presents the results of the first empirical analysis of how potentially salient characteristics of Court of Appeals judges influence precedential lawmaking on class certification under Rule 23. We find that the partisan composition of the panel (measured by the party of the appointing president) has a very strong association with certification outcomes, with all-Democratic panels having more than double the certification rate of all-Republican panels in precedential cases. We also find that the presence of one African American on a panel, and the presence of two females (but not one), is associated with ...


Pathways, Not Punishment: An Annotated Snap Employment And Training Advocacy Toolkit For Policy Newbies, Angela Eastlund Aug 2019

Pathways, Not Punishment: An Annotated Snap Employment And Training Advocacy Toolkit For Policy Newbies, Angela Eastlund

Stevenson Center for Community and Economic Development to Stevenson Center for Community and Economic Development—Student Research

For someone brand new to public policy advocacy, the concept can seem broad and putting it to practice can seem vague. In part, this is because the spectrum of public policy advocacy is broad and contains a vast variety of actions under its umbrella. The Chicago Jobs Council’s policy advocacy strategies around SNAP Employment and Training that are recounted in this toolkit are shared in context with the intent of shedding some light on the why, how, and when particular strategies are utilized. Our hope is that the examples shared here can be used to inform anyone that is ...


When Do Opponents Of Gay Rights Mobilize? Explaining Political Participation In Times Of Backlash Against Liberalism, Phillip M. Ayoub, Douglas D. Page Jun 2019

When Do Opponents Of Gay Rights Mobilize? Explaining Political Participation In Times Of Backlash Against Liberalism, Phillip M. Ayoub, Douglas D. Page

Political Science Faculty Publications

Existing research suggests that supporters of gay rights have outmobilized their opponents, leading to policy changes in advanced industrialized democracies. At the same time, we observe the diffusion of state-sponsored homophobia in many parts of the world. The emergence of gay rights as a salient political issue in global politics leads us to ask, “Who is empowered to be politically active in various societies?” What current research misses is a comparison of levels of participation (voting and protesting) between states that make stronger and weaker appeals to homophobia. Voters face contrasting appeals from politicians in favor of and against gay ...


Public Financing Of Elections In The States, Nicholas Meixsell Jun 2019

Public Financing Of Elections In The States, Nicholas Meixsell

Honors Theses

In the US, there is a history of the courts striking down campaign finance reform measures as unconstitutional. As such, there are few avenues remaining for someone who is interested in 'clean government' reforms. One such avenue is publicly financed elections, where the state actually provides funding for campaigns. These systems can be quite varied in the restrictions and contingencies they attach to the money, and for examples one has to look no further than the states There are many states that have some form of public financing for elections, and by looking at the different states' systems we are ...


Cultural Vs. Economic Investments Of Tribal Casinos In Historical Perspective, Yale D. Belanger Dr. May 2019

Cultural Vs. Economic Investments Of Tribal Casinos In Historical Perspective, Yale D. Belanger Dr.

International Conference on Gambling & Risk Taking

This presentation will elaborate how tribal community leaders originally envisioned utilizing gaming revenues to fund cultural investments such as language retention or elders’ programs, and whether they and their fellow community members assigned cultural investments a greater value than economic investments (e.g., infrastructure such as paved roads). Preliminary research suggests that leaders seeking casino or gaming site construction commonly identified cultural investments as an essential element of community development initiatives, and that they could be considered unique from and complementary to economic development initiatives. These and similar acts openly challenged the desires of state officials and national policy makers ...


The Annexation Of Hawai'i: A Violation Of Foreign Sovereignty By The United States Of America, Larissa R. Schuermyer May 2019

The Annexation Of Hawai'i: A Violation Of Foreign Sovereignty By The United States Of America, Larissa R. Schuermyer

Honors Projects

The Kingdom of Hawai’i was annexed by the United States of America in 1898 and was given statehood in 1959. Prior to its annexation, the Kingdom of Hawai’i had a legitimate functioning government with sovereign recognition from many in the international arena, including the United States, as early as 1840. This article analyzes current and past definitions of the state and sovereignty, as well as precedence from international law, to determine if the United States violated the sovereignty of the Kingdom of Hawai’i before and during the annexation process. A preponderance of evidence, including explanations of the ...


The Issue Of Funds: A Discussion On The Structure And Importance Of School Financing In Pennsylvania, Sarah Long May 2019

The Issue Of Funds: A Discussion On The Structure And Importance Of School Financing In Pennsylvania, Sarah Long

Honors Projects and Presentations: Undergraduate

Through no fault of her own, Joanne was born in Town A. Through no doing of his own, Charles was born in Town B. In Town A, Joanne and 89.7% of her fellow classmates receive free or reduced meals. Being eligible for free lunches means that a family’s income must be less than 130% of the Federal Poverty Level (FPL) ($24,817 for a family of three in 2012). To be eligible for reduced lunch, a child’s family would have to have an income between 130% and 185% ($35,317 for a family of three in 2012 ...


The Controversial F-35 Joint Strike Fighter: America's Most Expensive Weapons System And Its Global Impact, Bert Chapman Apr 2019

The Controversial F-35 Joint Strike Fighter: America's Most Expensive Weapons System And Its Global Impact, Bert Chapman

Libraries Faculty and Staff Creative Materials

Presentation describing my 2019 Palgrave Macmillan book Global Defense Procurement and the F-35 Joint Strike Fighter. It describes this aircraft and places particular emphasis on the government information resources from multiple countries used in writing this book.


Desegregating Schooling In Hartford, Connecticut: The 1996 Sheff V. O’Neill Court Case And Two Decades Of Integration Policy, Adam Bloom Apr 2019

Desegregating Schooling In Hartford, Connecticut: The 1996 Sheff V. O’Neill Court Case And Two Decades Of Integration Policy, Adam Bloom

Senior Theses and Projects

No abstract provided.


How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz Mar 2019

How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz

Journal of Financial Crises

An insight into the July 2015 exchange between the Federal Reserve Board and the People's Bank of China (PBOC) discussing efforts to apply lessons from the 1987 "Black Monday" stock market crash to a similar crash that was occurring in China.


Lessons Learned: Thomas C. Baxter, Jr., Esq., Alec Buchholtz, Rosalind Z. Wiggins Mar 2019

Lessons Learned: Thomas C. Baxter, Jr., Esq., Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Baxter, who was General Counsel of the Federal Reserve Bank of New York during the crisis, gives us his take on how best to prepare for future crises.


Yale Program On Financial Stability Lessons Learned: Scott Alvarez, Esq., Alec Buchholtz, Rosalind Z. Wiggins Mar 2019

Yale Program On Financial Stability Lessons Learned: Scott Alvarez, Esq., Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Alvarez, who was General Counsel of the Federal Reserve System, Board of Governors during 2007-2009, gives us his take on how best to prepare for future crises.


The Lehman Brothers Bankruptcy H: The Global Contagion, Rosalind Z. Wiggins, Andrew Metrick Mar 2019

The Lehman Brothers Bankruptcy H: The Global Contagion, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

When Lehman Brothers filed for bankruptcy on September 15, 2008, it was the largest such filing in U.S. history and a huge shock to the world’s financial markets, which were already stressed from the deflated housing bubble and questions about subprime mortgages. Lehman was the fourth-largest U.S. investment bank with assets of $639 billion and its operations spread across the globe. Lehman’s clients and counterparties began to disclose millions of dollars of potential losses as they accounted for their exposures. But the impact of Lehman’s demise was felt well beyond its counterparties. Concern regarding its ...


The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner Mar 2019

The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner

Journal of Financial Crises

This essay discusses the powers and limitations of the Federal Reserve’s role as Lender of Last Resort and how it deployed those powers during the financial crisis of 2007-2009. It considers the Fed’s authorities and the frameworks that it relied on in utilizing its powers to calm markets in turmoil and to assist specific financial institutions.


The Power Of Ranking: The Ease Of Doing Business Indicator And Global Regulatory Behavior, Rush Doshi, Judith G. Kelley, Beth A. Simmons Jan 2019

The Power Of Ranking: The Ease Of Doing Business Indicator And Global Regulatory Behavior, Rush Doshi, Judith G. Kelley, Beth A. Simmons

Faculty Scholarship at Penn Law

The proliferation of Global Performance Indicators (GPIs), especially those that rate and rank states against one another, shapes decisions of states, investors, bureaucrats, and voters. This power has not been lost on the World Bank, which has marshaled the Ease of Doing Business (EDB) index to amass surprising influence over global regulatory policies – a domain over which it has no explicit mandate and for which there is ideological contestation. This paper demonstrates how the World Bank’s EDB ranking system affects policy through bureaucratic, transnational, and domestic-political channels. We use observational and experimental data to show that states respond to ...


The Racialization Of Space: How Housing Segregation Caused The Racial Wealth Gap In The United States, Tia Goode Jan 2019

The Racialization Of Space: How Housing Segregation Caused The Racial Wealth Gap In The United States, Tia Goode

Theses and Dissertations

This project addresses how residential segregation have stymied home ownership and wealth in the black community; inhibiting true housing equity. This thesis project will attempt to use design as a means to help address past and continuing discrimination. Accessibility, affordability and accountability are central to this goal, which will be addressed in the project.

The site chosen for this project is the St. Luke’s Building located in Richmond, VA. This building was home to the Independent Order of St. Luke, a fraternal and cooperative insurance society for blacks. It also housed the St. Luke Penny Savings Bank which was ...


Reconsidering Judicial Independence: Forty-Five Years In The Trenches And In The Tower, Stephen B. Burbank Jan 2019

Reconsidering Judicial Independence: Forty-Five Years In The Trenches And In The Tower, Stephen B. Burbank

Faculty Scholarship at Penn Law

Trusting in the integrity of our institutions when they are not under stress, we focus attention on them both when they are under stress or when we need them to protect us against other institutions. In the case of the federal judiciary, the two conditions often coincide. In this essay, I use personal experience to provide practical context for some of the important lessons about judicial independence to be learned from the periods of stress for the federal judiciary I have observed as a lawyer and concerned citizen, and to provide theoretical context for lessons I have deemed significant as ...


The Spirit Is Willing, But The Flesh Is Weak: Contemporary Pan-Africanism And The Challenges To A United States Of Africa, Adesola Adeyemo Dec 2018

The Spirit Is Willing, But The Flesh Is Weak: Contemporary Pan-Africanism And The Challenges To A United States Of Africa, Adesola Adeyemo

Master's Theses

Establishing a ‘United States of Africa’ to the average individual is deemed as a mythical idea in contemporary Africa, irrespective of the popularity of this idea several years ago. Today, the idea is idealized as overambitious – considering the balkanized state of the continent post-colonialization. Because of this, attempts made since then have favored enforcing regional integration over continental integration. Undeniably, this idea would not have come into being if it wasn’t for the concept of Pan-Africanism - which has for long guided the political and socio-economic policies created on the continent. The goal of this research is to explore the ...