According to the Wall Street Journal, Representative Luetkemeyer, a Republican from Missouri, introduced a bill on September 27 in Congress requiring the Financial Accounting Standards Board (FASB) to formally study the impact of new accounting standards before finalizing them.
What Act does the bill seek to apply?
What are the three major effects that the bill seeks to have investigated?
What subcommittee does Mr. Luetkemeyer sit on?
What will Mr. Luetkemeyer’s bill be called?
What is the Financial Accounting Foundation (FAF) and the FASB’s position on this bill?
According to the Washington Post, Nissan will pay $15 million, and former chairman Carlos Ghosn will pay $1 million to settle allegations by U.S. regulators that they hid more than $140 million of Ghosn’s retirement benefits from investors.
How long was Ghosn CEO of Nissan?
What punishment did the SEC impose on Ghosn? Was it for hiding retirement or something else?
When will Ghosn stand trial and will it be civil, criminal, or both?
According to Business Insider, hundreds of thousands of tourists have been left stranded after UK Prime Minister Boris Johnson refused to grant the collapsed travel firm Thomas Cook a bailout of £150 million, or about $186 million.
Explain Johnson’s idea of a moral hazard.
How large is the Thomas Cook fleet of planes and jets?
How long are some travelers expected to be stranded?
How many U.K. and global employees does Thomas Cook have?
What factors have contributed to the Thomas Cook bankruptcy?
Bienkov, A. Boris Johnson says he refused £150 million bailout for Thomas Cook because it risked ‘moral hazard’ for other firms. Business Insider, Sep. 23 (Retrievable online at https://www.businessinsider.com/boris-johnson-refused-grant-150-million-bailout-for-thomas-cook-2019-9/
According to Business Insider, some CEO pay plans are so complicated that a powerful mathematical technique originally developed to understand the behavior of neutrons in an atom bomb explosion is now the most effective way to estimate what they are actually worth.
Where did the inspiration for the Monte Carlo simulation come from (according to a retrospective article)?
As part of its policy on executive pay disclosure, what does the SEC require corporations to publish regarding executive compensation packages?
In the last several years, it’s become increasingly common for CEOs and other top executives at public corporations to have their compensation packages tied to various financial performance goals and what does the Monte Carlo simulation provide to help us understand executive compensation?
According to Business Insider, with debt sitting at $9.2 trillion for the U.S. lending market, the industry has been the slowest to digitize and have had little incentive to remove friction from the customer application process.
What has Rocket Mortgage added to the industry to become the largest residential mortgage originator by volume?
According to this article, how are legacy lenders responding to digital competitors like Rocket?
Until now, why haven’t legacy lenders overhauled the application process?
Digalaki, E. (2019). How banks are striking back against Quicken Loans and other digital-first lenders in the $9 trillion US mortgage market. Business Insider, July 11 (Retrievable online at businessinsider.com/the-online-mortgage-lending-report-2019-7)
According to a new study by the National Community Reinvestment Coalition, Black and Hispanic men seeking small business loans face more scrutiny and worse treatment from bank officers than less qualified white men.
What were the declines in government-backed lending to black business owners from 2008 to 2016?
According to the study, what type of preferential treatment did white prospective borrowers receive?
Which group was the only one that asked about their education level?
According to the article, banks need better policies and training with respect to what area of lending?