The Transformation of the U.S. Banking Industry: What a Long, Strange Trips It's Been

macroeconomics, Transformation, U.S. Banking Industry

Did U.S. Bank Supervisors Get Tougher During the Credit Crunch? Did They Get Easier During the Banking Boom? Did It Matter to Bank Lending?

We test three hypotheses regarding changes in supervisory toughness' and their effects on bank lending. The data provide modest support for all three hypotheses that there was an increase in toughness during the credit crunch period (1989-1992), that there was a decline in toughness during the boom period (1993-1998), and that changes in toughness, if they occurred, affected bank lending. However, all of the measured effects are small, with 1% or less of loans receiving harsher or easier classification, about 3% of banks receiving better or worse CAMEL ratings, and bank lending being changed by 1% or less of assets.

Heavy Quark Production and PDF's Subgroup Report

We present a status report of a variety of projects related to heavy quark production and parton distributions for the Tevatron Run II.Comment: Latex. 8 pages, 7 eps figures. Contribution to the Physics at Run II Workshops: QCD and Weak Boson Physic

The association between water kilomasers and compact radio sources in the starburst galaxy NGC2146

We report the detection of 22 GHz water vapor emission toward the starburst galaxy NGC2146, made using the Effelsberg 100-m telescope. Interferometric observations with the Very Large Array (VLA) show that a part of the emission originates from two prominent sites of star formation that are associated with compact radio continuum sources, likely ultra-compact HII regions. It is concluded that the emission arises from the most luminous and distant water `kilomasers' detected so far. Our data increase the number of water maser detections in northern galaxies (Dec > -30 deg) with 100 micron IRAS point source fluxes > 50 Jy to 18%.Comment: 4 pages including 3 figures, accepted for publication in A&A Lette

Conceptualizing cultures of violence and cultural change

The historiography of violence has undergone a distinct cultural turn as attention has shifted from examining violence as a clearly defined (and countable) social problem to analysing its historically defined 'social meaning'. Nevertheless, the precise nature of the relationship between 'violence' and 'culture' is still being established. How are 'cultures of violence' formed? What impact do they have on violent behaviour? How do they change? This essay examines some of the conceptual aspects of the relationship between culture and violence. It brings together empirical research into nineteenth-century England with recent research results from other European contexts to examine three aspects of the relationship between culture and violence. These are organised under the labels 'seeing violence', 'identifying the violent' and 'changing violence'. Within a particular society, narratives regarding particular kinds of behaviour shape cultural attitudes. The notion 'violence' is thus defined in relation to physically aggressive acts as well as by being connected to other kinds of attitudes and contexts. As a result, the boundaries between physical aggression which is legitimate and that which is illegitimate (and thus 'violence') are set. Once 'violence' is defined, particular cultures form ideas about who is responsible for it: reactions to violence become associated with social arrangements such as class and gender as well as to attitudes toward the self. Finally, cultures of violence make efforts to tame or eradicate illegitimate forms of physical aggression. This process is not only connected to the development of new forms of power (e.g., new policing or punishment strategies) but also to less tangible cultural influences which aim at changing the behaviour defined as violence (in particular among the social groups identified as violent). Even if successful, this three-tiered process of seeing violence, identifying the violent and changing violence continues anew, emphasising the ways that cultures of violence develop through a continuous process of reevaluation and reinvention

The Agile Alert System For Gamma-Ray Transients

In recent years, a new generation of space missions offered great opportunities of discovery in high-energy astrophysics. In this article we focus on the scientific operations of the Gamma-Ray Imaging Detector (GRID) onboard the AGILE space mission. The AGILE-GRID, sensitive in the energy range of 30 MeV-30 GeV, has detected many gamma-ray transients of galactic and extragalactic origins. This work presents the AGILE innovative approach to fast gamma-ray transient detection, which is a challenging task and a crucial part of the AGILE scientific program. The goals are to describe: (1) the AGILE Gamma-Ray Alert System, (2) a new algorithm for blind search identification of transients within a short processing time, (3) the AGILE procedure for gamma-ray transient alert management, and (4) the likelihood of ratio tests that are necessary to evaluate the post-trial statistical significance of the results. Special algorithms and an optimized sequence of tasks are necessary to reach our goal. Data are automatically analyzed at every orbital downlink by an alert pipeline operating on different timescales. As proper flux thresholds are exceeded, alerts are automatically generated and sent as SMS messages to cellular telephones, e-mails, and push notifications of an application for smartphones and tablets. These alerts are crosschecked with the results of two pipelines, and a manual analysis is performed. Being a small scientific-class mission, AGILE is characterized by optimization of both scientific analysis and ground-segment resources. The system is capable of generating alerts within two to three hours of a data downlink, an unprecedented reaction time in gamma-ray astrophysics.Comment: 34 pages, 9 figures, 5 table

Bispectrum speckle interferometry of the massive protostellar outflow source IRAS 23151+5912

We present bispectrum speckle interferometry of the massive protostellar object IRAS 23151+5912 in the near-infrared K' band. The reconstructed image shows the diffuse nebulosity north-east of two point-like sources in unprecedented detail. The comparison of our near-infrared image with mm continuum and CO molecular line maps shows that the brighter of the two point sources lies near the center of the mm peak, indicating that it is a high-mass protostar. The nebulosity coincides with the blue-shifted molecular outflow component. The most prominent feature in the nebulosity is a bow-shock-like arc. We assume that this feature is associated with a precessing jet which has created an inward-pointed cone in the swept-up material. We present numerical jet simulations that reproduce this and several other features observed in our speckle image of the nebulosity. Our data also reveal a linear structure connecting the central point source to the extended diffuse nebulosity. This feature may represent the innermost part of a jet that drives the strong molecular outflow (PA ~80 degr) from IRAS 23151+5912. With the aid of radiative transfer calculations, we demonstrate that, in general, the observed inner structures of the circumstellar material surrounding high-mass stars are strongly influenced by the orientation and symmetry of the bipolar cavity.Comment: accepted by Astronomy & Astrophysics; preprints with high-resolution images can be obtained from http://www.mpifr-bonn.mpg.de/staff/tpreibis/iras23151.htm

Summary of the Very Large Hadron Collider Physics and Detector Workshop

One of the options for an accelerator beyond the LHC is a hadron collider with higher energy. Work is going on to explore accelerator technologies that would make such a machine feasible. This workshop concentrated on the physics and detector issues associated with a hadron collider with an energy in the center of mass of the order of 100 to 200 TeV