Unfair Lending: The Effect of Race and Ethnicity on the Price of Subprime Mortgages

African-Americans and Latinos get high-priced subprime mortgages far more frequently than whites -- even when they are equally qualified, according to a groundbreaking new study from CRL.Lenders say they charge more because African-Americans and Latinos on average have shakier credit histories, which makes lending to them riskier. But that explanation is simply wrong.In the most extensive study of its kind, CRL found that African-Americans and Latinos are commonly almost a third more likely to get a high-priced loan than white borrowers with the same credit scores. The study examined 50,000 subprime loans. A House subcommittee is now discussing whether to pass a weak bill favored by industry or strong protections that would stop predatory lending practices like this in the vast sub-prime mortgage market, where people with blemished credit borrow and most mortgage abuses occur

Living with the big picture: a systems approach to citizenship of a complex planet

About the book: Global citizenship is a dynamic topic within the modern world. Emerging from the new language and ideas that are being developed to try to encompass and define the ways in which globalisation is changing the world in which we live, global citizenship combines two factors - the idea of global responsibility (for the environment, aiding the poor, human rights, peace, etc.) and the development of institutional structures through which this responsibility can be exercised. The aim of the Reader is to introduce students to the changing ways in which politics, culture, environment and economics are being thought about and how individuals relate to the fast-moving global, political, cultural, economic and environmental agendas. The international team of authors includes social scientists, philosophers, natural scientists and systems theorists. They bring a breadth of coverage to the core theme of the individual in a global world, showing the wide variety of ways in which Global Citizenship is conceived and approached by different disciplines

Quantifying bid-ask spreads in the Chinese stock market using limit-order book data: Intraday pattern, probability distribution, long memory, and multifractal nature

The statistical properties of the bid-ask spread of a frequently traded Chinese stock listed on the Shenzhen Stock Exchange are investigated using the limit-order book data. Three different definitions of spread are considered based on the time right before transactions, the time whenever the highest buying price or the lowest selling price changes, and a fixed time interval. The results are qualitatively similar no matter linear prices or logarithmic prices are used. The average spread exhibits evident intraday patterns consisting of a big L-shape in morning transactions and a small L-shape in the afternoon. The distributions of the spread with different definitions decay as power laws. The tail exponents of spreads at transaction level are well within the interval $(2,3)$ and that of average spreads are well in line with the inverse cubic law for different time intervals. Based on the detrended fluctuation analysis, we found the evidence of long memory in the bid-ask spread time series for all three definitions, even after the removal of the intraday pattern. Using the classical box-counting approach for multifractal analysis, we show that the time series of bid-ask spread does not possess multifractal nature.Comment: 8 EPJ pages including 7 eps figure

Recognition and reconstruction of coherent energy with application to deep seismic reflection data

Reflections in deep seismic reflection data tend to be visible on only a limited number of traces in a common midpoint gather. To prevent stack degeneration, any noncoherent reflection energy has to be removed. In this paper, a standard classification technique in remote sensing is presented to enhance data quality. It consists of a recognition technique to detect and extract coherent energy in both common shot gathers and fi- nal stacks. This technique uses the statistics of a picked seismic phase to obtain the likelihood distribution of its presence. Multiplication of this likelihood distribution with the original data results in a “cleaned up” section. Application of the technique to data from a deep seismic reflection experiment enhanced the visibility of all reflectors considerably. Because the recognition technique cannot produce an estimate of “missing” data, it is extended with a reconstruction method. Two methods are proposed: application of semblance weighted local slant stacks after recognition, and direct recognition in the linear tau-p domain. In both cases, the power of the stacking process to increase the signal-to-noise ratio is combined with the direct selection of only specific seismic phases. The joint application of recognition and reconstruction resulted in data images which showed reflectors more clearly than application of a single technique

A study of the remarkable galaxy system AM 546-324 (the core of Abell S0546)

We report first results of an investigation of the tidally disturbed galaxy system AM\,546-324, whose two principal galaxies 2MFGC 04711 and AM\,0546-324 (NED02) were previously classified as interacting doubles. This system was selected to study the interaction of ellipticals in a moderately dense environment. We provide spectral characteristics of the system and present an observational study of the interaction effects on the morphology, kinematics, and stellar population of these galaxies. The study is based on long-slit spectrophotometric data in the range of $\sim$ 4500-8000 $\AA$ obtained with the Gemini Multi-Object Spetrograph at Gemini South (GMOS-S). We have used the stellar population synthesis code STARLIGHT to investigate the star formation history of these galaxies. The Gemini/GMOS-S direct r-G0303 broad band pointing image was used to enhance and study fine morphological structures. The main absorption lines in the spectra were used to determine the radial velocity. Along the whole long-slit signal, the spectra of the Shadowy galaxy (discovered by us), 2MFGC 04711, and AM\,0546-324 (NED02) resemble that of an early-type galaxy. We estimated redshifts of z= 0.0696, z= 0.0693 and z= 0.0718, corresponding to heliocentric velocities of 20\,141 km s$^{-1}$, 20\,057 km s$^{-1}$, and 20\,754 km s$^{-1}$ for the Shadowy galaxy, 2MFGC 04711 and AM\,0546-324 (NED02), respectively. ..

PENARAN PENASAR DALAM PATOPENGAN

Influence of science and technological like television to present mask dance, Mask Prembom and or Babondresan and tourism development is given the excite-ment which strong enough for mask enthusiast Bali society. Patopengan like is so-ciety in Bali, because mask is one of artistry, total art and easy understood by story “Babad”. Mask Show use the ancient language Jawa translated to Balinese Langu-age. Figure penasar in mask is determining to figure succeed its show. Penasar have the function complex:namely story, puppeteer and interpreter, connect ther story, commentator, stage manager, and even as cover or conclusion and show, hence to became the this figure characterization seemingly is not easy. To act this figure have to own the skill the dance, ability the good vowel, technique of retorica knowledge and artisticly is show. Many matter which must be prepared/owned by somebody which wish to elaborate the figure penasar. This role is inclusive of rareness, so that not many enthusiastic young artist to deepen the role of penasar