The evolving role of the Federal Home Loan Banks in mortgage markets

The Federal Home Loan Banks are part of a system created by the federal government to promote home ownership. This Commentary looks at new initiatives undertaken by these government-sponsored enterprises to expand their role in financial markets-and the attendant implications for their balance sheets.Federal home loan banks ; Mortgages ; Housing - Finance

Has Blending Compromised Cepheid-Based Determinations of the Extragalactic Distance Scale?

We examine the suggestion that half of the HST Key Project- and Sandage/Saha-observed galaxies have had their distances systematically underestimated, by 0.1-0.3 mag in the distance modulus, due to the underappreciated influence of stellar profile blending on the WFC chips. The signature of such an effect would be a systematic trend in (i) the Type Ia supernovae corrected peak luminosity and (ii) the Tully-Fisher residuals, with increasing calibrator distance, and (iii) a differential offset between PC and WFC distance moduli, within the same galaxy. The absence of a trend would be expected if blending were negligible (as has been inherently assumed in the analyses of the aforementioned teams). We adopt a functional form for the predicted influence of blending that is consistent with the models of Mochejska et al. and Stanek & Udalski, and demonstrate that the expected correlation with distance predicted by these studies is not supported by the data. We conclude that the Cepheid-based extragalactic distance scale has not been severely compromised by the neglect of blending.Comment: 14 pages, 2 figures, 1 table, LaTeX, accepted for publication in Astrophysical Journal Letters, also available at http://casa.colorado.edu/~bgibson/publications.htm

A Chandra observation of the H2O megamaser IC2560

A short Chandra ACIS-S observation of the Seyfert 2 galaxy IC 2560, which hosts a luminous nuclear water megamaser, shows: 1) the X-ray emission is extended; 2) the X-ray spectrum shows emission features in the soft (E<2 keV) X-ray band; this is the major component of the extended emission; and 3) a very strong (EW~3.6 keV) iron K line at 6.4 keV on a flat continuum. This last feature clearly indicates that the X-ray source is hidden behind Compton-thick obscuration, so that the intrinsic hard X-ray luminosity must be much higher than observed, probably close to ~3e42 erg/s. We briefly discuss the implications for powering of the maser emission and the central source.Comment: 5 pages, MNRAS in pres

Latent consequences of early-life lead (Pb) exposure and the future: Addressing the Pb crisis

Background. The lead (Pb) exposure crisis in Flint, Michigan has passed from well-publicized event to a footnote, while its biological and social impact will linger for lifetimes. Interest in the “water crisis” has dropped to pre-event levels, which is neither appropriate nor safe. Flint’s exposure was severe, but it was not unique. Problematic Pb levels have also been found in schools and daycares in 42 states in the USA. The enormity of Pb exposure via municipal water systems requires multiple responses. Herein, we focus on addressing a possible answer to long-term sequelae of Pb exposure. We propose “4R’s” (remediation, renovation, reallocation, and research) against the Pb crisis that goes beyond a short-term fix. Remediation for affected individuals must continue to provide clean water and deal with both short and long-term effects of Pb exposure. Renovation of current water delivery systems, at both system-wide and individual site levels, is necessary. Reallocation of resources is needed to ensure these two responses occur and to get communities ready for potential sequelae of Pb exposure. Finally, properly focused research can track exposed individuals and illuminate latent (presumably epigenetic) results of Pb exposure and inform further resource reallocation. Conclusion. Motivation to act by not only the general public but also by scientific and medical leaders must be maintained beyond initial news cycle spikes and an annual follow-up story. Environmental impact of Pb contamination of drinking water goes beyond one exposure incident in an impoverished and forgotten Michigan city. Population effects must be addressed long-term and nationwide

Geoadditive Regression Modeling of Stream Biological Condition

Indices of biotic integrity (IBI) have become an established tool to quantify the condition of small non-tidal streams and their watersheds. To investigate the effects of watershed characteristics on stream biological condition, we present a new technique for regressing IBIs on watershed-specific explanatory variables. Since IBIs are typically evaluated on anordinal scale, our method is based on the proportional odds model for ordinal outcomes. To avoid overfitting, we do not use classical maximum likelihood estimation but a component-wise functional gradient boosting approach. Because component-wise gradient boosting has an intrinsic mechanism for variable selection and model choice, determinants of biotic integrity can be identified. In addition, the method offers a relatively simple way to account for spatial correlation in ecological data. An analysis of the Maryland Biological Streams Survey shows that nonlinear effects of predictor variables on stream condition can be quantified while, in addition, accurate predictions of biological condition at unsurveyed locations are obtained

Lessons In and Out of School

What are we saying to children when we leave the creativity to others in a visual environment, infused with “attitude”, snobbery, acquisitiveness and Pollyanna innocence? We’re saying that we approve this message. Visual arts teach media literacy in an atmosphere that implicitly uses vices to secure attention. School experiences cannot compete. Parents and teachers, pleading incompetence, pass undiscerning choices to the next generation. Educational illustration typically amounts to copy-machine ready, poorly drawn, saccharin cartoons. Standards exemplified by the likes of Szyk, Holling and others lie hidden on the shelves. Dismay and consternation over the failure to plumb the depths of humor and insight defer to the powerful convenience of the copy machine. Saturation in media environments indoctrinates and disarms our ability to think through opinions and compulsions. Flexible resemblance works in the small world of painted images and in large media environments that conflate sentiment with material goods and milestones with products for purchase. Developing the ability to discern the attributes of our visual world as well as learning that we can express ourselves artistically allows us to fulfill an important aspect of our destiny as human beings. I focus on producing artwork in watercolor, an antiquated medium. My studies began before the advent of digital media and before word of painting’s irrelevance spread to my Midwestern art school

Gene × environment interaction by a longitudinal epigenome-wide association study (LEWAS) overcomes limitations of genome-wide association study (GWAS)

The goal of genome-wide association studies is to identify SNPs unique to disease. It usually involves a single sampling from subjects' lifetimes. While primary DNA sequence variation influences gene-expression levels, expression is also influenced by epigenetics, including the ‘somatic epitype’ (GSE), an epigenotype acquired postnatally. While genes are inherited, and novel polymorphisms do not routinely appear, GSE is fluid. Furthermore, GSE could respond to environmental factors (such as heavy metals) and to differences in exercise, maternal care and dietary supplements – all of which postnatally modify oxidation or methylation of DNA, leading to altered gene expression. Change in epigenetic status may be critical for the development of many diseases. We propose a ‘longitudinal epigenome-wide association study’, wherein GSE are measured at multiple time points along with subjects' histories. This Longitudinal epigenome-wide association study, based on the ‘dynamic’ somatic epitype over the ‘static’ genotype, merits further investigation

Evolution of displacements and strains in sheared amorphous solids

The local deformation of two-dimensional Lennard-Jones glasses under imposed shear strain is studied via computer simulations. Both the mean squared displacement and mean squared strain rise linearly with the length of the strain interval $\Delta \gamma$ over which they are measured. However, the increase in displacement does not represent single-particle diffusion. There are long-range spatial correlations in displacement associated with slip lines with an amplitude of order the particle size. Strong dependence on system size is also observed. The probability distributions of displacement and strain are very different. For small $\Delta \gamma$ the distribution of displacement has a plateau followed by an exponential tail. The distribution becomes Gaussian as $\Delta \gamma$ increases to about .03. The strain distributions consist of sharp central peaks associated with elastic regions, and long exponential tails associated with plastic regions. The latter persist to the largest $\Delta \gamma$ studied.Comment: Submitted to J. Phys. Cond. Mat. special volume for PITP Conference on Mechanical Behavior of Glassy Materials. 16 Pages, 8 figure