Most scholars know little about the panic of 1792, America's first financial market crash, during which securities prices dropped nearly 25 percent in two weeks. Treasury Secretary Alexander Hamilton adroitly intervened to stem the crisis, minimizing its effect on the nascent nation's fragile economic and political systems. U.S. policymakers soon forgot the crisis-management techniques Hamilton invented but failed to codify. Many of them were later rediscovered and became theoretical and practical standards of modern central-bank crisis management. Hamilton, for example, formulated and implemented "Bagehot's rules" for central-bank crisis management eight decades before Walter Bagehot wrote about them in Lombard Street.
Government financial managers must be prepared to respond to diverse needs in extreme circumstances, such as those presented by a tsunami's destructive power or the wrath of a hurricane. The outcry from both public and private sector has spawned numerous initiatives for gifting goods and services to the victims of the natural disaster. The role of your governmental unit is to coordinate these initiatives, selecting which nonprofit entities will be the authorized outsourcers and receive funding commensurate with the planned disaster relief program. Steps to effectively address the task at hand include: 1. Access data sources to identify legitimate nonprofit candidates for partnering. 2. Discern which organizations provide retrievable information. 3. Evaluate the timeliness of available i...
[...] financial aid policies at many community colleges discourage students from taking on student loans because they are concerned about problems associated with Tide IV refunds if students do not attend their classes and with potentially high student loan default rates that could make them ineligible to participate and result in negative publicity. To make things even more complicated, some states provide more generous financial aid programs for public sector institutions, ignoring the private sector, while other states, such as New York for example, provide more generous scholarships for students enrolled in the private sector. [...] at Georgia public institutions, it is unlikely that senior enrollment managers have to budget large amounts of campus-based financial aid in efforts t...
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