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The day is short, and the work is great, and the labourers are sluggish, and the reward is much, and the Master is urgent [...] It is not thy duty to complete the work, but neither art thou free to desist from it [...] Acknowledgements Let me begin by saying that this journey turned out to be longer and more complex than I had expected. In August of 1989 I(More)
  • Manuel Adelino, W Scott Frame, Kristopher S Gerardi, Brent Ambrose, Andra Ghent, Robert Hansen +7 others
  • 2015
This paper examines how Fannie Mae and Freddie Mac (the GSEs), the dominant investors in subprime mortgage-backed securities, affected the collateral composition in this market. We use the fact that subprime deals included separate mortgage pools specifically created for the GSEs to make causal inferences. Mortgages backing securities designed for the GSEs(More)
  • Edward J Kane, Richard Aspinwall, Rex Dupont, Robert Eisenbeis, Stephen Kane, Paul Kupiec +7 others
  • 2014
In this world I've rambled, I've seen many crooked men. Some will rob you with a six-gun and some with a fountain pen…Woody Guthrie. ABSTRACT Shadowy Banking is financial activity that is engineered to extract implicit subsidies from government safety nets. It substitutes innovative corporate entities and products for activities that could be performed more(More)
  • Robert M Bushman, Bradley E Hendricks, Christopher D Williams, Mike Minnis, Stephan Ryan, Derrald Stice +2 others
  • 2013
helpful comments. We thank Feng Li for help in computing the competition metric. Abstract Assessing how competition affects bank performance is an important issue for regulators, credit rating agencies and investors. In this paper, we utilize a bank-specific measure that extracts a bank's perception of its competitive environment from a textual analysis of(More)
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