The Himachal Pradesh Government today issued the notification to grant Dearness Allowance (DA) to the State Government employees with effect from Jan 1, 2017. In office memorandum issued today, the State Government enhanced the DA to State Government employees at the rate of four percent from the existing rate of 130 per cent to 134 pc to be paid with effect from Jan 1, 2017.. Moreover at the rate of two percent from existing rate of two per cent to four percent in respect of officers of all India Services who drawing pay in the revised pay scale. The DA would be paid in cash salary of September 2017 and the areas occurred form Jan 1, 2017 to Aug 31, 2017 would be credited to the GPF accounts of the employees with the salary of Sept 2017 and interest of this account would be accrued on Oct 1 2017. In case of Government employees who have retired between this terms arrears on the account of additional instalment would be paid in cash.. ...
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Land use planning and municipal authorizations: The streamlining measures in respect of land use planning are narrower in scope and more precise than in Bill 61. The Government can only bypass the Act respecting land use planning and development if an infrastructure project is a Government Intervention within the meaning of that Act, whereas Bill 61 also contained measures for projects that did not qualify as such. A Government Intervention occurs when the Government or its representatives perform certain prescribed acts, such as building infrastructure, carrying out work on the soil, or modifying the boundaries of a wildlife preserve - as a result, many of the projects listed in Schedule 1 may indeed qualify as Government Interventions. Further, rather than simply being able to bypass land use planning rules and municipal authorization requirements, the Bill instead sets out a simplified procedure for infrastructure projects that require a municipal authorization ...
Having previously pooh-poohed the dangers of the coronavirus, Richard Epstein is now calling for an immediate end to social distancing and business shutdowns. Its unfortunate that he has chosen to dig himself deeper into a hole rather than admitting his earlier mistake and moving on.. As I discussed in a previous post, Epstein initially predicted that the coronavirus would cause about 500 deaths in the U.S., which he then revised to 5000. The U.S. is now at 50,000, which is what Epstein initially predicted as global mortality.. Epstein says that his estimates are more accurate than initial estimates of millions of U.S. deaths. He may have been referring to the two million deaths estimated by Imperial College, London, a widely publicized forecast. But that high estimate explicitly assumed no government intervention. Epsteins estimate of the number of deaths without government intervention was one-tenth the actual number of deaths, which took place despite vigorous government intervention. That ...
The Whitehall study of British civil servants begun in 1967, showed a steep inverse association between social class, as assessed by grade of employment, and mortality from a wide range of diseases. Between 1985 and 1988 we investigated the degree and causes of the social gradient in morbidity in a …
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Posts about can I medically retire as a civilian federal government employee if I have ptsd from the military? yes but you have to prove your case written by OPM Disability Retirement Lawyer and Federal Disability Retirement Attorney
This is an analysis in the correct direction so that countries and the WHO acquire a know-how and tools that were missing. The past semester has been an observational experiment the world over, and lets hope that a good response to high rate epidemics is mapped out.. The countries proceeded by trial and error, some governments putting emphasis on lives and some on the economy, until their failing health systems forced them to regulate deaths.. In hind site it is easy to see that lock-downs should be selective, but the horror induced by the Lombardy horror videos, of patients effectively euthanized, dying in the corridors and army trucks carrying coffins, made some governments take early measures, as happened in Greece . The fear of the economy made other governments go with the herd immunity slogan, until their health system was overwhelmed ( see UK,…) and they came late to lock-downs, as an afterthought.. 1) The slogan vulnerable people will die anyway, go for herd immunity, was seen to be ...
The role of national governments in ecological or environmental conservation remains contentious the world over. While scientists and campaigners alike often demand that governments regulate and encourage restoration projects; ...
All the problems with the American health care system come from government intervention, so naturally the Democrats idea for fixing it is more government intervention. This is like trying to sober up by having another drink.. The reason seeing a doctor is already more like going to the DMV, and less like going to the Apple Genius Bar, is that the government decided health care was too important to be left to the free market. Yes-the same free market that has produced such a cornucopia of inexpensive goods and services that, today, even poor people have cell phones and flat-screen TVs.. As a result, its easier to get your computer fixed than your health. Thanks, government!. We already have near-universal health coverage in the form of Medicare, Medicaid, veterans hospitals, emergency rooms and tax-deductible employer-provided health care-all government creations.. So now, everyone expects doctors to be free. People who pay $200 for a haircut are indignant if it costs more than a $20 co-pay ...
Many politicians and pundits are panicked over the existing state of the oil and gasoline markets. Disregarding past experience, these parties advocate massive intervention in those markets, which would only serve to repeat and extend previous errors. These interventionists propose solutions to nonexistent problems. This Policy Analysis reviews the academic literature relevant to these matters and argues that the prevailing policy proposals are premised on a misunderstanding of energy economics and market realities. The interventionists do not distinguish between problems that government can remedy and those that it cannot. They ignore lessons that should have been learned from past experience. They embrace at best second- and third-best remedies rather than first-best remedies for the alleged problems. Moreover, they ignore the extreme difficulty associated with ensuring efficient policy response even when it seems to be theoretically warranted. Fear of oil imports is premised on pernicious
Over the past few weeks, Israels new government has put forward a series of proposals that would further encroach on the delicate balance between personal liberty and public overreach. Embracing ideas that would signal unprecedented intervention in our
I had a geology professor ages ago who had a rather scary medical issue. One morning she woke up and could not remember her own name, where she was, who was the guy in bed with her (who she had been married to for 10 years) and there was no alcohol involved. her memory had been declining for years, but at that point her husband decided it was worth taking her to a doctor. It took months of tests but they eventually concluded that her memory loss was caused by overexposure to MSG. The doctors told her that most food companies put tons of the stuff in our foods, but you cant tell if its in there by looking at the label. They convinced the FDA to let them disguise their secret ingredients with terms like natural flavors so they would not be revealing their trade secrets. However, the reason they put so much MSG in food is not so much as flavor but because it is mildly addictive. You cant just stop at one, you feel compelled to keep eating. She pretty much has to subsist almost entirely out of ...
This article won the 2011 Beth A. Hoffman Memorial Prize for Economic Writing.. Although critics on the left are very astute in describing the evils of present-day society, they usually fail to understand either the root of those problems (government intervention) or their solution (the operation of a freed market). In Progressive commentary on energy, pollution, and so on-otherwise often quite insightful-calls for government intervention are quite common. George Monbiot, for instance, has written that [t]he only rational response to both the impending end of the Oil Age and the menace of global warming is to redesign our cities, our farming and our lives. But this cannot happen without massive political pressure.. But this is precisely backward. Existing problems of excess energy consumption, pollution, big-box stores, the car culture, and suburban sprawl result from the massive political pressure that has already been applied, over the past several decades, to redesign our cities, our ...
Last week a Brown County (MN) District Judge ruled that 13 yr. old Daniel Hauser has been medically neglected by his parents. Now, this medical neglect is not that the parents will not give the child any treatment -- they are trying natural remedies -- but that they are not willing to submit to the specific medical treatment deemed necessary by doctors, and evidently this judge ...
John Finnie (Highlands and Islands) (Green) On a point of order, Presiding Officer. You will be aware that, under chapter 9B of the standing orders, this Parliament refused to consent to the European Union (Withdrawal) Bill. Last week, despite that lack of consent, the United Kingdom Governments timetable allowed the UK Parliament just over 15 minutes to debate our concerns and, indeed, all issues that related to devolution in Scotland, Wales and the north of Ireland. I understand that no MPs representing Scottish constituencies had the opportunity to speak in that debate.. I am a member of the Parliaments Justice Committee and the Rural Economy and Connectivity Committee. For several months, we have attempted-unsuccessfully-to get UK Government ministers to come before us. They have often cancelled at very short notice. I understand that other committees here have been treated with similar discourtesy. This Parliament is being treated with utter contempt by the UK Government and, in ...
Emptywheel wrote:. What I look forward to learning, though, is how having government employees do the work that telecom employees - who at least were bound by ECPA - avoids the same kind of abusive fishing expeditions.. All three branches of the US government would argue that by having government employees do the snooping, it would prevent abuse because government employees take an oath and pledge to respect the law, honor the Constitution, and never ever do bad things.. The fallacy of this naiveté, or political smoke blowing up ones ass if you prefer, is that for all the US governments key-logging, polygraph testing, and other Big Brother oversight processes, there is no there there. Its like believing in Santa Claus. A fairy tale one tells children.. If the US government keeps it all in house (ignoring inconvenient facts like that private contractors form a large part of the intelligence communitys workforce), then nobody outside of the US government will ever know what they are doing. ...
Yet, we still have plenty left over for those we deem the usual suspects, namely government employees, the beneficiaries of government programs, and the military (and this is by no means an exhaustive list). Certainly, there are a plethora of reasons that libertarians might cite to take issue with people in any of these groups. After all, they are actively participating in those activities that are destroying civilized society and robbing us of rights that we are entitled to enjoy. Even those who do not actively participate but who support these institutions with their votes are subject to our unrelenting scorn, typically punctuated by the damning rejoinder statist.. Now, these criticisms are almost always well-deserved. In supporting government intervention into our lives here at home and in the affairs of other nations, our opponents are claiming the right to initiate the use of force. Even on domestic issues, these interventions amount to acts of war against us as individuals, for an act ...
Parliament has appointed a 20-member committee to act as the emergency committee of selection, for the 7th parliament of the 4th Republic.. The mandate of this committee is to compose the various standing and select committees of Parliament so that the work of committees in the House can begin in earnest.. The Majority Leader, Osei Kyei Mensah-Bonsu on the floor of Parliament, explained that the committee of selection cannot procreate itself, so it was important for leadership to constitute that committee in consultation with the Speaker.. The 20-member committee of selection will be chaired by the Speaker of Parliament, Aaron Michael Oquaye.. ...
DOPT : Reservation for the Persons with Benchmark Disabilities No.36035/02/2017-Estt (Res) GOVERNMENT OF INDIA MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES & PENSIONS DEPARTMENT OF PERSONNEL & TRAINING North Block, New Delhi Dated the 15th January, 2018 OFFICE MEMORANDUM Subject: Reservation for the Persons with Benchmark Disabilities - reg. With enactment of THE RIGHTS OF PERSONS WITH DISABILITIES ACT, 2016′ from 19th April, 2017 and notification of THE RIGHTS OF PERSONS WITH DISABILITIES RULES, 2017′ on 15th June, 2017, the following instructions are issued in line with the provisions made therein regarding reservation for Persons with Benchmark Disabilities, as defined under Section 2(r) of the Act against the posts and services of the Central Government. 2. QUANTUM OF RESERVATION 2.1 In case of direct recruitment, four per cent of the total number of vacancies to be filled up by direct recruitment, in the cadre strength in each group of posts i.e. Groups A, B and C shall be reserved for ...
DOPT : Reservation for the Persons with Benchmark Disabilities No.36035/02/2017-Estt (Res) GOVERNMENT OF INDIA MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES & PENSIONS DEPARTMENT OF PERSONNEL & TRAINING North Block, New Delhi Dated the 15th January, 2018 OFFICE MEMORANDUM Subject: Reservation for the Persons with Benchmark Disabilities - reg. With enactment of THE RIGHTS OF PERSONS WITH DISABILITIES ACT, 2016′ from 19th April, 2017 and notification of THE RIGHTS OF PERSONS WITH DISABILITIES RULES, 2017′ on 15th June, 2017, the following instructions are issued in line with the provisions made therein regarding reservation for Persons with Benchmark Disabilities, as defined under Section 2(r) of the Act against the posts and services of the Central Government. 2. QUANTUM OF RESERVATION 2.1 In case of direct recruitment, four per cent of the total number of vacancies to be filled up by direct recruitment, in the cadre strength in each group of posts i.e. Groups A, B and C shall be reserved for ...
The national pay scene is very chaotic and full of anomalies, many of them legacies of history. Government employees now enjoy several unintended benefits which originated during British rule plus numerous concessions unique to India that have been wrested by them through agitation. An objective survey that will be equally fair to the government employees and the public that
The Conference committee on amendment of Bonus Act - Removal of Conditions on Payment Ceiling, Eligibility Limits. Decisions to pay Minimum Bonus without linking to loss when the performance indicator satisfy grant of bonus constituted to discuss the Agenda item No. 3 of 46th session of the Indian Labour Conference met under the chairmanship of Captain Abhimanyu, Minister of Labour, Govt. of Haryana. Shri Om Prakash Mittal, General Secretary, Laghu Udyog Bharti (LUB) and Ms. Meenakshi Gupta and Mr. B.B. Mallick, Joint Secretary, MoLE respectively were the Vice-Cheirman and Member Secretary of the Committee. The Committee had the representation of all the stake-holders (Workers Group, Employers Group and State Government ...
Weight: A weight variable is not included in the dataset. However, the SPSS commands created and disseminated by the data producer and incorporated as a separate section in the current ICPSR codebook include SPSS syntax for weighting the main sample only. Mode of Data Collection: on-site questionnaire Extent of Processing: ICPSR data undergo a confidentiality review and are altered when necessary to limit the risk of disclosure. ICPSR also routinely creates ready-to-go data files along with setups in the major statistical software formats as well as standard codebooks to accompany the data. In addition to these procedures, ICPSR performed the following processing steps for this data collection:. ...
Protecting rights and facilitating stable relationships among federal agencies, labor organizations, and employees while advancing an effective and efficient government through the administration of the Federal Service Labor-Management Relations Statute. ...
This paper assesses the quantitative impact of government interventions on deaths related to the COVID-19 outbreak. Using daily data for 32 countries and relyin
Were excited to announce that government, nonprofit and military employees can get an Extra Crunch membership at a discounted rate of $50 per year, plus tax. If interested in claiming the deal, please contact our customer service team from your .org, .gov, .mil or similar work-related email domain. Well also accept other forms of verification, […]
Air Travel on LTC once in Ten Years to visit foreign countries - WB State Govt Orders issued on 9.10.2015 The state government of West Bengal issued orders on availing of Leave Travel Concession (LTC) to foriegn countires, such as, … [Read more...] ...
In preparation for the upcoming 2022 legislative session, your political action committees are now accepting proposals to craft HGEAs legislative package. Do you have an idea for a new law or are you looking to amend an existing one? Submit your idea no later than October 29, 2021.. Click here to submit your legislative proposal. If you have any questions, please contact the Member Service Center at (808) 543-0000 or [email protected] ...
Off-Payroll Reforms Delayed to April 2021. The proposed changes to the IR35 rules (known as the off-payroll reforms), which were due to come into force in April this year, and which would likely have seen many self-employed contractors reclassified by the engaging client as employees for UK payroll taxation purposes, have been postponed to April 2021.. UK businesses have welcomed this move, as it will buy them extra time to plan ahead for the proposed changes. The delay also potentially creates an opportunity in the meantime for the UK Government to address widespread concerns about the potential negative economic consequences of these proposed changes. Whether the government will actually do so, however, and to what extent, remains to be seen.. Further details on the proposed IR35 changes can be found in our Insight article, UK Employment Law: 2019 Highlights and 2020 Forecast.. UK Government to Step in And Pay Employees Salaries. For UK businesses struggling to pay their employees, the UK ...
The department agreed to sell its remaining 234 million shares in AIG, which represented 15.9 percent of the company, for $32.50 each. The sale in effect closes the books on a rescue that at its height had the government on the hook for more than $182 billion and owning 92 percent of the company. The offering is expected to be completed Friday.. Despite the bailouts profit, critics note the huge toll it took on public confidence in the financial system and the precedent it helped set for government intervention to protect companies deemed too big to fail.. The bailout was an enormous cost to this country, said Phil Angelides, who headed the governments Financial Crisis Inquiry Commission.. Amazon.com agrees to add sales tax for Massachusetts BOSTON - Massachusetts retailers are hailing a deal reached between online seller Amazon.com and state officials to begin collecting the states 6.25 percent sales tax from Bay State residents who order items through the website.. Gov. Deval Patrick ...
with the unconstitutional act of dissolving the Parliament. The present momentous crisis required a firm, an able, and an efficient ininistry. Whether the present ministers came under that description, Parliament must determine. But he thought they afforded but an unfavourable specimen of their future conduct, by shrinking from the responsibilty of having advised the dismissal of the late ministers. It was a constitutional maxim, founded in wisdom, that, the king could do no wrong ; for if he could, what scenes of bloodshed must ensue before he could be brought to justice? The Parliament, he said, had done nothing that could rem quire a dissolution. The reason alleged for it was, the ex. pediency of taking the sen e of the people. That, he contended, was in favour of the late minis ers, and instanced the great county of York. His lordship then adverted to the accusations against the late ministers, for opposing the go. vernment. One would think, he observed, on hearing these, that this was some ...
Forty female innovators have been backed by the UK Government to drive forward their novel innovations and business ideas to help the UK build back better from the pandemic and meet its climate change ambitions. To mark International Womens Day, the UK Government Science Minister Amanda Solloway announced the Women in Innovation Award winners will receive a cash injection of £50,000 each to scale up and bring to market their disruptive business ideas, many of which have been born out in response to the COVID-19 pandemic.
In conjunction with the states and territories, the establishment of a national transport research centre.. Australian Greens Deputy Leader, Senator Christine Milne, said Getting people moving around cities like Melbourne faster, more conveniently, more sustainably and more cheaply is a challenge which needs to see the Federal and State governments working together.. Only with proper coordinated planning can we get a truly sustainable solution that will work for people and the planet.. Australian Greens Senator Scott Ludlam said These are important policy changes that have been backed by a Senate inquiry.. The states and territories have given political support to long term planning as part of a COAG process but we want to see the Federal government get the ball rolling.. Greens Member for Melbourne, Adam Bandt, said With more Greens elected in Victoria we will be able to do more to get good cooperative policies like these operating across the State and Federal levels of ...
But to an economist, it is not enough to note that you do or dont like something, to justify a policy to encourage or discourage it. We instead hold ourselves to a higher analysis standard - is there a net market failure sufficient to justify an intervention?. Except, alas, on (national at-a-time between-family) income and wealth inequality. There, most economists think it sufficient to just note that a policy influences inequality - they rarely feel a need to identity an associated market failure. For example, Christina Romer:. A successful argument for a government manufacturing policy has to go beyond the feeling that its better to produce real things than services. … The economic rationales for a policy aimed specifically at shoring up manufacturing largely fall into three categories. None are completely convincing:. MARKET FAILURES Government intervention can be justified on efficiency grounds if the free market wont work well. … The market can malfunction if there are positive ...
Comments: In October 2016, OGE submitted its action plan to address GAOs recommendations. OGE reported having a number of actions underway. OGE stated the agency is surveying agency ethics officials to determine whether executive branch agencies are experiencing data challenges related to special government employees not serving on boards. According to OGE, the agency plans to evaluate what steps may help agencies strengthen their data if the survey results show agencies are experiencing data challenges. OGE reported that, in consultation with OPM, the agency proposed new regulations that would improve coordination between agency human resource officials and agency ethics officials by requiring agency human resource officials to provide ethics officials with prompt notification of the appointment of all financial disclosure report filers, including special government employees. OGE also reported expanding the agencys ongoing review of the Department of Health and Human Services (HHS) in light ...
I am quite sure that Gawande would not disagree that there should be a framework, but he would be careful about what the framework consisted of. In fact, his use of agricultural history demonstrates that rather than wanting medical reform to proceed helter skelter, he sees his patchwork approach as very well suited to providing true improvement in treatment and costs savings. Gawande certainly isnt advocating that medicine follow its own entropic trajectory, just as he did NOT suggest that that was how agriculture should progress. In fact, quite the opposite. He says, The agricultural system [before 1903] was fragmented and disorganized, and ignored evidence showing how things could be done better….Laissez faire had not worked. What did work was indeed government intervention even in the face of traditional American hostility to it. Private farms remained, along with the considerable advantages of individual initiative. [But] the government was enlisted to help millions of farmers ...
Matching grants are one of the most common policy instruments used by developing country governments to try to foster technological upgrading, innovation, exports, use of business development services and other activities leading to firm growth. However, since they involve subsidizing firms, the risk is that they could crowd out private investment, subsidizing activities that firms were planning to undertake anyway, or lead to pure private gains, rather than generating the public gains that justify government intervention. As a result, rigorous evaluation of the effects of such programs is important. The authors attempted to implement randomized experiments to evaluate the impact of seven matching grant programs offered in six African countries, but in each case were unable to complete an experimental evaluation. One critique of randomized experiments is publication bias, whereby only those experiments with \interesting\ results get published. The hope is to mitigate this bias by learning from ...
22 April 2010: President Obama delivers a speech on Wall Street to advocate more government intervention in the countrys financial sector, but offers no reforms for Fannie Mae or Freddie Mac, which helped precipitate the 2008 meltdown. He also delivers a speech regarding the contributions of Earth Day to environmental awareness.. Meanwhile, 200,000 gallons of oil are spilling daily.. 23 April 2010: President Obama blasts the Arizona governor, state legislators, police officers and residents for backing federal laws that prohibit illegal immigration.. 23 April 2010: The oil continues to flow.. 24 April 2010: The president delivers his weekly radio address, which focuses on further regulation of Wall Street. He also calls upon certain segments of his original supporters - African-Americans, Latinos, Hispanics, and women - and asks them to mobilize for political action.. 24 April 2010: Efforts to contain the spill are hampered by lack of resources and difficult weather.. 25 April 2010: President ...
Handling of notices received from investigation/ enquiry officers of CBI/Cyber Crime - Handling of notices received from investigation/ enquiry officers
It would be easy to ignore Bedfords essay, but it would be a mistake to do so. True, his organization has slipped into irrelevancy. David Franke, one of the founding members of YAF, estimates that the group has no more than a few hundred dues-paying members, and thus is easily dwarfed by the many thousands of young people who have flocked to Ron Pauls Young Americans for Liberty and Students for Liberty.. There are rumors, however, that YAF is trying to rebuild itself, and there is more at stake than whether Bedford will succeed in breathing new life into a moribund organization. In his attack on Ron Paul, Bedford signals the type of people that he believes are deserving of inclusion within YAF and, indirectly, the conservative movement writ large: namely, neoconservatives who generally favor government intervention, both at home and abroad.. But the issues of greatest concern for CPAC-goers do not comport with YAFs vision. Attendees signaled an interest in limited, constitutional government, ...
By Alasdair Macleod, Head of Research, GoldMoney. The economic establishment failed to foresee the banking crisis five years ago. They then assured us that monetary stimulus was all that was needed to get economic growth back on track. Despite their abysmal track record, they continue with the same flawed Keynesian and monetarist beliefs, refusing to even consider they might be wrong. They are a collective of wise monkeys, seeing no evil, hearing no evil, and saying no evil.. The economic establishment blames todays evils on free markets, on a lack of government intervention, and on banks for being reluctant to lend. It never blames the economic establishment itself. Meanwhile, it blames government deficits on cheats who dont pay their taxes. It never looks at the political cheats who fail to cut their spending according to their diminishing cloth. I could go on; instead, I will attempt to identify the mounting dangers that face us all.. There are four horsemen of the global economic ...
By Ram Puniyani MD The issues related to our educational institutions-patriotism started coming up to the fore with this Government coming to power (May 2014). One after the other news of Government intervention in different institutions, more so the nationally well known ones started disturbing us. There was the case of IIT Madras where Periyar Ambedkar Study Circle was banned. Then IIT Bombay Director […]. ...
Medical allowance is a set amount given as an allowance to employees for whether he/she avails the medical treatment and shows bills to show the expenditure. Now, a medical reimbursement… ...
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Transfer and posting of Arunachal government employees are being done in some departments. Though transfers and postings are a regular affair, the timing is slightly problematic, given the fact that it is being done amidst a pandemic, most of the government employees are engaged in Covid-19 duties, and the roads are blocked in many places ...
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In this paper we construct a dynamic heterogeneous agent general equilibrium model to quantify the effects of child labor legislation on human capital accumulation and the distribution of wealth and welfare. Crucial model elements include a human capital externality in the market sector, an informal home production sector in which child labor laws cannot be enforced, uninsurable idiosyncratic income risk, borrowing constraints, and endogenous wage and interest rate determination in general equilibrium. We calibrate the model to US data around 1880 and find that the welfare consequences for individual households of a transition to policies that restrict child labor or provide tax-financed free education depend crucially on the main source of a households income. Whereas households with significant financial asset holdings unambiguously lose from any government intervention, high-wage workers benefit most from a ban on child labor, while low-wage workers benefit most from free education. Based on ...
Chapter 9 summarizes lessons from successful firms and their use of constructive dialogue to help prevent undisciplined risk-taking. The books recommendation, that constructive dialogue be required of all major financial firms as a way to strengthen them and contribute to their safety and soundness, builds on the work of Professor Sydney Finkelstein and colleagues about the need for respectful challenge to help offset the possibility of flawed decision making by a leader. Moreover, only effective supervision can help protect financial firms from a race to the bottom. In 2005-2007 lenders and borrowers took on increasing amounts of risk without regard to the consequences. Citigroups CEO sought government intervention to reduce risks that firms took in the race for market share and profits. CEOs can benefit from feedback from supervisors as well as their boards, management teams, and risk officers.
As previously reported (Commercial property evictions ban extended until 25 March 2022), on 24 June 2021 the UK Government extended the moratorium on landlords evicting commercial tenants for non-payment of rent during the pandemic under s82 of the Coronavirus Act 2020 until 25 March 2022. Similarly, the restriction on the Commercial Rent Arrears Recovery (CRAR), which prevents landlords seizing a tenants goods in lieu of rent unless the tenant has more than 554 days of rent arrears, was extended until 25 March 2022. The restriction on the serving of winding up petitions based on a statutory demand under the Corporate Insolvency and Governance Act 2020 was also extended until the 30 September 2021.The UK Government has now issued, on 4 August 2021, a policy statement called Supporting Business with Commercial Rent Debts confirming that they will introduce legislation to ringfence rent arrears accrued during the pandemic due to enforced closures of commercial premises. As with previous ...