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First published in 1992, "Wilderness & Travel Medicine" has
been a staple of the emergency first-aid kits sold worldwide. With
this fourth edition, "Mountaineers Books and Adventure Medical
Kits" have partnered to release an updated, standalone reference
for anyone who ventures away from civilisation. Topics covered
include everything from CPR, shock, and fractures to head, eye, and
dental injuries, poisonous reactions, frostbite, hypothermia, heat
illness, and much, much more. Throughout the text, sidebars provide
useful and improvised techniques for specific injuries. In
addition, there is "When to Worry" advice explaining how to tell if
an injury is advancing in severity, despite attempts to arrest or
slow down dangerous symptoms. The author Eric Weiss, MD is a
nationally recognised expert in wilderness medicine. It covers both
illnesses and injuries. It includes improvised techniques for when
medical supplies aren't on hand. Every section has been updated and
new illustrations added to this edition.
The continuing conservatorship of Fannie Mae and Freddie Mac at a
time of uncertainty in the housing, mortgage, and financial markets
has raised doubts about the future of these enterprises, which are
chartered by Congress as government-sponsored enterprises (GSEs)
and whose debts are widely believed to be implicitly guaranteed by
the federal government. In the second quarter of 2012, both Fannie
Mae and Freddie Mac reported profits for the first time since the
fourth quarter of 2006. Also, the second quarter of 2012 was first
time that neither GSE had to request financial support from the
Treasury. The Treasury has agreed to buy mortgage-backed securities
(MBSs) from the GSEs and to raise funds for them. Initially, each
GSE gave Treasury $1 billion in senior preferred stock and warrants
to acquire, at nominal cost, 80% of each GSE. Treasury holds more
than $187 billion of preferred stock in the two GSEs. Treasury has
agreed to invest whatever is required to maintain GSE solvency
through calendar year 2012. Now the formerly implicit guarantee is
nearly explicit. In addition to Treasury's purchases of senior
preferred stock, the Federal Reserve (Fed) has purchased GSE bonds
and MBSs. Under terms of the federal government's purchase of their
preferred stock, the enterprises are required to pay the government
dividends of nearly $20 billion annually (10% of the support).
Housing, mortgage, and even general financial markets remain in an
unprecedented situation. Estimates of the total cost to the federal
government use different baselines and vary widely. The FHFA
estimates that Treasury is likely to purchase $220 billion-$311
billion of senior preferred stock by the end of 2014. The
Congressional Budget Office estimates the budget cost to be more
than $300 billion. Standard & Poor's has estimated the cost at
$280 billion plus $405 billion to create a replacement system. Once
Treasury's support for Fannie Mae and Freddie Mac ends, sometime
after 2012, the GSEs will be challenged to pay the 10% annual cash
dividend contained in their contracts. The enterprises could
instead pay a 12% annual senior preferred stock dividend
indefinitely. In August 2011, Standard & Poor's downgraded the
debt of the federal government, Fannie Mae, and Freddie Mac. To
date, there is no evidence that this has increased mortgage
interest rates, but the impact may take longer to occur or to be
detected.
The Housing and Economic Recovery Act of 2008, P.L. 110-289, is
likely to affect most owner-occupied housing in the United States
through a variety of channels. The act creates a new, stronger,
unified regulator for Fannie Mae, Freddie Mac, and the Federal Home
Loan Banks (the housing GSEs). As a result of various provisions in
the act, the secondary mortgage market is likely to be broadly
affected. For example, the Secretary of the Treasury is given
(until December 31, 2009) the authority to lend or invest in the
housing GSEs on whatever terms the Secretary determines to be
appropriate. Starting in 2009, the maximum high cost conforming
loan limit is increased to 150% of the conforming loan limit; based
on 2008 limits, this would be $625,500. For the first time, Fannie
Mae and Freddie Mac can go into receivership. The act also
modernizes many aspects of the Federal Housing Administration
(FHA). In high-cost areas, the maximum loan that the FHA can insure
is identical to the maximum mortgage amount that the housing GSEs
can purchase. The minimum downpayment on FHA-insured mortgages is
increased from 3% to 3.5%, seller-assisted downpayment assistance
is prohibited, and there is a moratorium until October 31, ...
Fannie Mae and Freddie Mac are charted by Congress as
government-sponsored enterprises (GSEs) to provide liquidity in the
mortgage market and promote homeownership for underserved groups
and locations. They purchase mortgages, guarantee them, and package
them in mortgage backed securities (MBSs), which they either keep
as investments or sell to institutional investors. In addition to
the GSEs' guarantees, investors widely believe that MBSs are
implicitly guaranteed by the federal government. In 2008, the GSEs
financial condition had weakened and there were concerns over their
ability to meet their obligations on $1.2 trillion in bonds and
$3.7 trillion in MBSs that they had guaranteed. In response to the
financial risks, the federal government took control of these GSEs
in a process known as conservatorship as a means to stabilize the
mortgage credit market. Congressional interest in Fannie Mae and
Freddie Mac has increased in recent years, primarily because the
federal government's continuing conservatorship of these GSEs, at a
time of uncertainty in the housing, mortgage, and financial
markets, has raised doubts about the future of the enterprises and
the potential cost to the Treasury of guaranteeing the enterprises'
debt. Since more than 60% of households are homeowners, a large
number of citizens could be affected by the future of the GSEs.
Congress exercises oversight over the Federal Housing Finance
Agency (FHFA), which is both regulator and conservator of the GSEs,
and is considering legislation to shape the future of the GSEs.
Legislation introduced in the 112th Congress, the future of the
GSEs, and ways to reduce the cost to the federal government are
analyzed in CRS Report R41822, Proposals to Reform Fannie Mae and
Freddie Mac in the 112th Congress, by N. Eric Weiss. Estimates of
the eventual total cost to the federal government of supporting the
GSEs use different baselines and vary widely. FHFA estimates that
Treasury is likely to purchase $220 billion-$311 billion of senior
preferred stock by the end of 2014. The Congressional Budget Office
estimates the budget cost to be more than $300 billion. Standard
& Poor's has estimated the cost at $280 billion plus $405
billion to create a replacement system. Under terms of the federal
government's support agreement as amended and effective on August
17, 2012, the enterprises will pay the Treasury all of their
quarterly profits (if any). Under the previous agreements, the
enterprises paid Treasury dividends of nearly $20 billion annually
(10% of the support). Paying the federal government all profits
earned in a quarter could prevent the GSEs from accumulating funds
to redeem the senior preferred stock. However, it would appear that
the GSEs could make quarterly redemptions. The financial condition
of the GSEs appears to be improving. In the first and second
quarters of 2012, both Fannie Mae and Freddie Mac reported profits
for the first time since the fourth quarter of 2006. Also, the
second quarter of 2012 was first time that neither GSE had to
request financial support from the Treasury.
Many of the financial problems facing the U.S. can be traced to
financial illiteracy among large segments of the population.
Consider: 1. If people understood the relation between the economy
and monetary policy they probably would not have taken out
adjustable rate mortgages at precisely the time the Federal Reserve
was set to raise interest rates. 2. If people understood the
difference between the effective annual and the annual percentage
rate they would likely incur less high cost credit card debt. 3. If
people understood the benefits of tax-deferred compounding they
likely would begin contributing to their retirement plan earlier in
life -- resulting in substantially more wealth when they retire.
Financial Illiteracy in America argues that financial illiteracy
derives from the absence of personal finance instruction in most
U.S. public high schools and a mistaken reliance, on the part of
many, that the best way to learn about financial topics is through
one's parents or life experiences. The problem is that most parents
do not have the financial background to impart financial knowledge
to their children, while learning through life experiences often
results in costly mistakes or realizing a problem when it is too
late. Financial Illiteracy in America outlines what young people
need to know to get a head start in putting their lives on a sound
financial footing including topics such as: - Using financial
services intelligently - Does a young person need insurance? -
Opening and operating a brokerage account - Investments a young
person should make - Globalization effects on the prices of goods
and services purchased by young people Finally, Financial
Illiteracy in Americaa presents a curriculum for teaching personal
finance to high school students. Financial Illiteracy in America
was written by Eric J. Weiss, Certified Financial Planner
PROFESSIONAL who also teaches an "Introduction to Finance" course
to college students. Mr. Weiss's experience with clients and
students sparked the idea for this book and has convinced him of
the paramount importance of increasing financial literacy in the
U.S.
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In Autumn (Paperback)
Eric Weiss
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R293
R243
Discovery Miles 2 430
Save R50 (17%)
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Ships in 10 - 15 working days
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In his first collection of poems, Eric Weiss explores humanity and
nature as two separate entities and yet completely of one essence.
These poems take the reader on a kaleidoscopic ride of emotion and
imagery in the landscape of our living, be it the people we know or
knew or the sights that we see. The lessons that we must learn and
then teach to others are beautifully expressed in these poems. It
is with simple and surreal honesty that Weiss's poems bring wonder
and awe of the everyday occasions that we so ordinarily pass
through into such focus. It is with profound thought that we will
now walk with our senses in full bloom, fully realized through the
imagery of "In Autumn."
"In Autumn" stands as a reminder to us all of the conscious
breaths of our being and wraps them into the art of our world.
Whether the reader is inspired by a grasshopper that ignites a
profound thought, the mystery discovered in a river's name, or the
suspense the sky brings to the art a season paints, the emotion of
the intimate poetry included in this collection will resonate for
all who experience it.
As government-sponsored enterprises (GSEs), Fannie Mae and Freddie
Mac are hybrids: created and chartered by Congress for specific
public policy purposes, they are nonetheless private,
profit-seeking businesses whose shares are traded on the New York
Stock Exchange. Their "government-sponsored" nature confers certain
advantages over their purely private competitors. As a result,
their operations have expanded rapidly over the years and they long
ago assumed and continue to play critical roles in the residential
mortgage market. This book provides background on the GSE reform
issue, summarises the provisions of H.R. 1427 and S. 1100, and
compares them to legislation passed by the House in the 109th
Congress.
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