ABSTRACT Why did the popping of the housing bubble bring the financial system—rather than just the housing sector of the economy—to its knees? The answer lies in two methods by which banks had evaded regulatory capital requirements. First, they had temporarily placed assets—such as securitized mortgages—in off‐balance‐sheet entities, so that they did not have to hold significant capital buffers against them. Second, the capital regulations also allowed banks to reduce the amount of capital they held against assets that remained on (...) their balance sheets—if those assets took the form of AAA‐rated tranches of securitized mortgages. Thus, by repackaging mortgages into mortgage‐backed securities, whether held on or off their balance sheets, banks reduced the amount of capital required against their loans, increasing their ability to make loans many‐fold. The principal effect of this regulatory arbitrage, however, was to concentrate the risk of mortgage defaults in the banks and render them insolvent when the housing bubble popped. (shrink)

(2011). Theory in Health Promotion Research and Practice: Thinking outside the Box. Patricia Goodson. Boston, MA: Jones and Bartlett. 2010. 245, pp. $78.95. Educational Studies: Vol. 47, No. 6, pp. 583-588.

This paper examines Heidegger’s concept of “facticity” in his writings from the 1920s. Heidegger’s focus on this concept, the author suggests, is keyed to Heidegger’s own rethinking of existence in terms of Luther’s and Paul’s interpretations of early Christianity. In this context, then, we gain new insight into Heidegger’s notions of temporality, of Jeweiligkeit, and also his critical appropriation of Aristotle.

This chapter contains section titled: Acknowledgments References and Further Reading.

The notion that Jesus' death is an atoning sacrifice is grounded in Jesus' own understanding of the temple and sacrificial cult in light of the dawn of the New Age.