The Resource Auction basics : background for assessing proposed treasury purchases of mortgage-backed securities, D. Andrew Austin

Auction basics : background for assessing proposed treasury purchases of mortgage-backed securities, D. Andrew Austin

Label
Auction basics : background for assessing proposed treasury purchases of mortgage-backed securities
Title
Auction basics
Title remainder
background for assessing proposed treasury purchases of mortgage-backed securities
Statement of responsibility
D. Andrew Austin
Creator
Contributor
Subject
Genre
Language
eng
Summary
To address the turmoil in financial markets, the Emergency Economic Stabilization Act (EESA; H.R. 1424, P.L. 110-343), enacted on October 3, 2008, authorizes purchases of "troubled assets." The act passed the Senate on October 1, 2008, passed the House on October 3, 2008, and was signed into law the same day. The Administration proposed using reverse Dutch auctions to purchase troubled assets -- primarily mortgage-related securities from financial institutions. In reverse Dutch auctions, a buyer purchases multiple objects from private parties at a price set by the last accepted bid. The government has used reverse auctions since the Revolutionary War. Designing efficient reverse Dutch auctions may present some tradeoffs between enhancing competition among bidders and overpaying for assets relative to their quality. Careful auction design, however, can help minimize these problems
Member of
Cataloging source
SNM
http://bibfra.me/vocab/lite/collectionName
HeinOnline
http://library.link/vocab/creatorName
Austin, D. Andrew
Government publication
federal national government publication
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
Library of Congress
Series statement
CRS report for Congress
Series volume
RL34707
http://library.link/vocab/subjectName
  • Auctions
  • Financial institutions
  • United States
  • Auctions
  • Economics
  • Financial institutions
  • United States
Label
Auction basics : background for assessing proposed treasury purchases of mortgage-backed securities, D. Andrew Austin
Instantiates
Publication
Note
  • "October 14, 2008."
  • Title from title screen (viewed Oct. 29, 2008)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
264944044
Extent
1 online resource (14 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
System control number
(OCoLC)264944044
System details
  • Mode of access: World Wide Web
  • System requirements: Adobe Acrobat Reader
Label
Auction basics : background for assessing proposed treasury purchases of mortgage-backed securities, D. Andrew Austin
Publication
Note
  • "October 14, 2008."
  • Title from title screen (viewed Oct. 29, 2008)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
264944044
Extent
1 online resource (14 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
System control number
(OCoLC)264944044
System details
  • Mode of access: World Wide Web
  • System requirements: Adobe Acrobat Reader

Library Locations

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