American Bonds (eBook)

How Credit Markets Shaped a Nation

Sarah L. Quinn (Autor)

eBook Download: PDF

2019
312 Seiten
Princeton University Press (Verlag)
978-0-691-18561-3 (ISBN)

Infos

How the American government has long used financial credit programs to create economic opportunitiesFederal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation's founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America's complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution.Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government's role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization.Illuminating America's market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation's lending practices.

Autor

Sarah Quinn is assistant professor of sociology at the University of Washington.

Produkt-Details

• Erscheint lt. Verlag: 16.7.2019
• Reihe/Serie: Princeton Studies in American Politics
• Reihe/Serie: Princeton Studies in American Politics: Historical, International, and Comparative Perspectives
• Zusatzinfo: 13 b/w illus. 7 tables.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Recht / Steuern ► EU / Internationales Recht
• Themenwelt: Recht / Steuern ► Privatrecht / Bürgerliches Recht ► Baurecht (privat)
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Politische Theorie
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
• Themenwelt: Sozialwissenschaften ► Soziologie
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: Accounting • Agriculture • americans • asset • Bank • Bond (finance) • Bond Market • Budget • Capitalism • Capital Market • Commercial Bank • Credit (finance) • Creditor • credit risk • Currency • debt • Default (finance) • Deregulation • Developmental state • down payment • Economic Development • Economic Growth • Economic planning • Economic Policy • economist • economy • Economy of the United States • Employment • Entrepreneurship • Expense • Fannie Mae • Farmers' Alliance • Federal Home Loan Banks • Federal Housing Administration • Finance • Financial Crisis • Financial Services • financier • Fiscal Policy • foreclosure • Fraud • Funding • Government bond • Government Debt • Guarantee • Housing Industry • income • Industry • Institution • insurance • Interest Rate • Investment • Investor • Laissez-faire • Legislation • Leverage (finance) • Manufacturing • Market correction • Mortgage Bankers Association • Mortgage Bond • Mortgage Broker • Mortgage Company • mortgage loan • Neoliberalism • Ownership • Partnership • Paul Pierson • Payment • Political Economy • Politician • Politics • Populism • Provision (accounting) • Public housing • Real estate appraisal • real estate economics • Reconstruction Finance Corporation • repayment • saving • Savings and loan association • Secondary mortgage market • Securitization • shortage • Small Business • Speculation • State Government • state-owned enterprise • Stock Market • Subsidy • Supply (economics) • Tax • Tax exemption • Tax expenditure • Theda Skocpol • United States Department of Housing and Urban Development • Venture Capital • War Finance Corporation • Wealth • welfare • Welfare State
• ISBN-10: 0-691-18561-1 / 0691185611
• ISBN-13: 978-0-691-18561-3 / 9780691185613