The Credit Rating Agencies and the Subprime Mess: Greedy,Ignorant, and Stressed?

The credit rating agencies (CRAs) were an important component of the subprime mess. This article describes what the CRAs are, what they do, what roles they play, and how they fit into the regulatory system. It outlines the types of mortgage securities that the CRAs rate and outlines the evolution of the subprime mess. It then assesses three prime suspects in the CRAs' problems: incentives, ignorance, and stress. The author concludes that all three factors were important, that public officials were slow to react, and that additional safeguards have been put into place to prevent such problems in the future.

I feel that the rating agencies are somewhat of a mystically anointed monopoly, not unlike our good friends Fannie and Freddie, but with even less accountability.
—Representative Richard H. Baker, 2005
Everyone assumed the credit agencies knew what they were doing.
—Joseph Mason, credit expert at Drexel University, 2008

     

Acid alteration of several ignitable liquids of potential use in arsons

Ignitable liquids such as fuels, alcohols and thinners can be used in criminal activities, for instance arsons. Forensic experts require to know their chemical compositions, as well as to understand how different modification effects could impact them, in order to detect, classify and identify them properly in fire debris. The acid alteration/acidification of ignitable liquids is a modification effect that sharply alters the chemical composition, for example, of gasoline and diesel fuel, interfering in the forensic analysis and result interpretation. However, to date there is little information about the consequences of this effect over other accelerants of interests. In this research paper, the alteration by sulfuric acid of several commercial thinners and other accelerants of potential use in arsons is studied in-depth. For that purpose, spectral (by ATR-FTIR) and chromatographic (by GC–MS) data were obtained from neat and acidified samples. Then, the spectral and chromatographic modifications of each studied ignitable liquid were discussed, proposing several chemical mechanisms that explain the new by-products produced and the gradual disappearance of the initial compounds. Hydrolysis, Fischer esterification and alkylation reactions are involved in the modification of esters, alcohols, ketones and aromatic compounds of the studied ignitable liquids. This information could be crucial for correctly identifying these accelerants. Additionally, an exploratory analysis revealed that some of the most altered ignitable liquid samples might be very similar with each other, which could have impact on casework.     

Comparison of violence and abuse in juvenile correctional facilities and schools

Peer violence, peer sexual harassment and abuse, and staff abuse experienced by boys and girls in juvenile correctional facilities are compared with those experienced by peers in schools in the community. Responses of 360 youths in 20 gender-separated correctional facilities in Israel to a questionnaire tapping these forms of mistreatment were compared with those of 7,012 students in a representative sample of Israeli junior high and high schools. Victimization was reported more frequently by those in correctional facilities than by those in schools. However, some of the more prevalent forms of violence and abuse were reported with equal frequency in both settings, and some more frequently in schools. Despite being victimized more frequently, those in the correctional facilities tended to view their victimization as a significantly less serious problem than those in the schools and to rate the staff as doing a better job of dealing with the problem.     

Detection of Pb,Ba, and Sb in Cadaveric Maggots and Pupae by ICP-MS*

The concentrations of lead (Pb), barium (Ba), and antimony (Sb), characteristic of GSR, were determined in soil sediments and immature (larvae) of cadaveric flies of the family Calliphoridae, by inductively coupled plasma mass spectrometry (ICP-MS). This research refers to a case study from two real crime scenes in which the corpses were in an advanced state of decomposition. In case 1, the victim had holes similar to gunshot wounds, and in case 2, there was no evidence of perforations in the corpse. Soil sediment collection was performed at three different points of the terrain, at a minimum distance of 10 m from the corpse, for cases 1 and 2. In relation to the collection of immatures, larvae were collected in regions of the mouth, nose, and orifices similar to the entry of firearms projectile into the body, for case 1, and collection of larvae and pupae, located on the body and underneath it, for case 2. It was possible to detect and quantify the three elements of interest (Pb, Ba, and Sb) by ICP-MS in both sediment and cadaveric larvae. Concentrations of 4.44, 8.74, and 0.08 μg/g were obtained for Pb, Ba, and Sb, respectively, in the soil for case 1. For the case 2, the concentrations in Pb, Ba, and Sb were from 16.34 to 26.02 μg/g; from 32.64 to 57.97 μg/g and from 0.042 to 0.30 μg/g, respectively. In the larvae, Pb, Ba, and Sb were quantified in cases 1 and 2 with a concentration of 6.28 and 1.78 μg/g for Pb, 1.49 and 2.94 μg/g for Ba, 0.50 μg/g and <LD for Sb, respectively. These new results present the detection of characteristic elements of GSR in cadaveric larvae in humans in a real crime scene, besides highlighting the importance of the study of immature flies, using the ICP-MS technique in forensic analysis.     

Ladung des Medieninhabers zur Hauptverhandlung im Strafverfahren wegen eines Medieninhaltsdeliktes

Der Medieninhaber ist nach § 41 Abs 6 S 1 MedienG auch in einem Strafverfahren wegen eines Medieninhaltsdeliktes zur Hauptverhandlung zu laden. Dies setzt nicht voraus, dass schon in der Anklage ein Antrag auf Anordnung der Urteilsver?ffentlichung gem § 34 Abs 1 S 1 MedienG gestellt wird, weil dem Ankl?ger eine derartige Antragstellung bis zum Schluss der Hauptverhandlung offensteht. Auch der Ausschlussgrund nach § 34 Abs 3a MedienG hat auf die Anwendung des § 41 Abs 6 MedienG keinen Einfluss, weil erst mit Rechtskraft des Urteils feststeht, ob ein Zitat iSd § 6 Abs 2 Z 4 MedienG vorliegt. Beweise über den Ausschlussgrund sind überdies nur aufzunehmen, wenn sich der Medieninhaber darauf beruft, was seine Teilnahme am Verfahren voraussetzt.     

Experimental comparison of two multiple-stage contest designs with asymmetric players

We compare experimentally two contest designs. In the between-group design (BGD), cohorts compete with one another in stage 1 and a single cohort is then advance to stage 2. In stage 2, members of this cohort compete for a single prize. In the within-group design (WGD), the order of the competition is reversed. Our findings support the theoretical conclusion that the WGD is superior to BGD in generating more expenditure. They also show that if the cohorts are fixed, small, and interact repeatedly over time, then tacit collusion in the WGD, but not the BGD, leads to suppression of expenditures.     

Effects of Student Participation and Teacher Support on Victimization in Israeli Schools: An Examination of Gender,Culture, and School Type

Much of the research literature on school violence has focused narrowly on individual characteristics of troubled youth, without careful examination of contextual factors that might influence violence and victimization in school settings. This study examines the associations among Student Participation in Decision-Making in their Schools, Teacher Support, and Student Victimization (by students and staff members) in a nationally representative sample of 10,254 students in 164 junior high and high schools in Israel. Data were analyzed using structural equations modeling for full group analyses and for group comparisons of patterns among junior high, high school, male, female, and Jewish and Arab students. Across all models, higher levels of teacher support were associated with lower rates of victimization. Participation in Decision-Making was also related to Victimization, with varying patterns depending on students' gender and ethnicity. Theoretical and social cultural factors contributing to these gender and cultural differences are discussed. The general findings are consistent with the research literature on teacher support, however they raise future research questions about culture and gender effects when considering participation and school contexts. Presented at the Annual Convention of the American Psychological Association, July 31st, 2004 Honolulu, Hawaii. Roxana Marachi is an Assistant Professor of Education at San José State University. She received her Ph.D.in Education and Psychology in 2003 from the University of Michigan. Her major research interests include school climate, learning environments, social behavior in schools, and the prevention of school violence Ron Avi Astor is Professor of Social Work and Education at the University of Southern California. He received his Ph.D. in School Psychology and Human Development from the University of California at Berkeley in 1991. His major research interests include school violence, moral reasoning about family and school violence, violence interventions, and student empowerment methods using mapping and monitoring methods Rami Benbenishty is a Gordon Brown Professor of Social Work and Social Welfare at the Hebrew University of Jerusalem, Israel. He received his Ph.D. in Social Work and Psychology in 1981 from the University of Michigan. His major research interests include child welfare, student victimization, and clinical judgment and decision making     

The Positive Role of School Climate on School Victimization,Depression, and Suicidal Ideation Among School-Attending Homeless Youth

Although homeless youth face a higher risk of victimization and mental health problems, little is known about school victimization and mental health outcomes for school-attending homeless youth. This study examined the relationship between school climate and school-related victimization and mental health problems among homeless youth. Multivariate analyses were conducted to examine the relationship between school climate factors and school victimization, suicidal ideation, and depression tendency in a representative sample of 1,169 school-attending homeless youth in 9th and 11th grades in California. Findings show that school-attending homeless youth are at high risk of being victimized at school and have high rates of depression tendency and suicidal ideation. Positive school climate, especially perceived high expectations from teachers and safety in school, was associated with lower rates of school victimization and mental health problems. The role of supportive school climate in the lives of school-attending homeless youth is discussed and future implications are suggested.