FinTech Industrial Banks and Beyond: How Banking Innovations Affect the Federal Safety Net

The FinTech industry has been utilizing technological innovations to provide services traditionally offered by the banking and financial industry. Until now, many FinTech firms engaging in these activities had non-bank state licenses. The uncertainties surrounding their current business models and the desire to expand the operations led some of these firms to apply for industrial bank charters. An industrial bank charter is one of the few ways for a commercial firm to control a depository institution and allows FinTech firms to retain their technological investments that are not directly related to banking. However, access of these industrial banks to the federal insurance, payment services, and the discount window raise some concerns. It is claimed that the parent companies of these banks might gain an unfair advantage over their competitors, misguide their creditors, or limit their liabilities by benefitting from the federal subsidies given to the banking industry. This Note analyzes these claims and proposes two alternatives—credit card banks and state bank subsidiaries—for the FinTech firms seeking to engage in the business of banking. Particularly, engaging in non-bank activities through bank subsidiaries could eliminate some of the persistent moral hazard problems that the industrial bank model might entail. Although the industrial bank activities would not pose a significant risk to the federal safety net, these alternatives to the industrial banks could be preferable for sustaining the development of the FinTech industry as well as maintaining a safe and sound banking system

A Comparative Analysis of the Fermentation Capabilities of Various Bifidobacterium Strains

Bifidobacterium is a genus of anaerobic bacteria that are commonly found to inhabit the gastrointestinal tract of many members of the animal kingdom. These microorganisms are adapted to obtain their carbon from the breakdown of complex carbohydrates. Marmosets, a mammal whose gut microbiome is inhabited by high levels of Bifidobacteria, consume gum Arabic as a major part of their diet. The purpose of this experiment is to determine whether Bifidobacterium strains isolated from the guts of marmosets are able to degrade and ferment this complex carbohydrate or one of its main constituents, arabinose. This was accomplished by inoculating isolates of Bifidobacterium species into tubes containing basal MRS medium supplemented with gum Arabic or arabinose and monitoring pH (color change) over time. Each of the 12 marmoset-derived isolates were tested in liquid media containing either 5% arabinose, 3% gum Arabic, or 1% gum Arabic. A positive phenotype indicating fermentation of the substrate was visualized by a shift in the media’s color from purple to yellow. The fermentative capabilities of the marmoset strains were then compared to 13 other Bifidobacterium strains that were isolated from other mammals such as rats, pigs, and humans. Two strains from each group expressed a negative phenotype for arabinose, while all other strains were positive. In the marmoset group, 6 of the strains expressed positive phenotypes for the 1% gum and 8 were positive for the 3% concentration. The group of strains from non-marmoset origins sported 5 positive phenotypes for the 1% concentration of gum Arabic, while 6 strains tested positive for the 3% concentration

ANZAC Biscuits versus Turkish Peksimet: How Food Logistics Affected the Gallipoli Campaigh

One way to look at the Gallipoli Campaign is trying to see it through daily life in the trenches, what they did, what they ate, how they thought about their conditions.Here one finds amazing details of humanity despite the ferocity of war. Gallipoli was a battle where enemies came to an appreciation for each other, and through developing empathy for the counter part, both sides ended in re-discovering their own national identities

The Influence of media displays and image quality attributes for HDR image reproductions

High Dynamic Range (HDR) photography has been in existence at least since the time of Ansel Adams, with his experiments using analog film and darkroom techniques for the production of black and white prints in the 1940\u27s (Ashbrook, 2010). This photographic method has the ability to provide a more accurate representation of a scene through a greater range of the light and dark areas captured in an image. In the mid-20th century HDR Photography it has continued to grow in popularity among those interested in photography wishing to optimize their resulting image beyond a more commonly used technique. Presently, the limitations of commonly available reproduction technologies can lead to unpredictable output results through media such as monitor displays and inkjet prints. The purpose of this research was to determine the influence of quality attributes and image content on the preference of display media for HDR image reproductions. To achieve this purpose, a psychophysical experiment was conducted of 38 observers with previous imaging related exposure. This part of the study consisted of HDR comparisons across both a monitor display device and inkjet prints. Through qualitative and quantitative methods, common trends were identified among observer responses. The results show that for inkjet prints are the most preferred for the output of HDR images, specifically when printed on a metallic substrate. Additionally, the content of displayed images can directly impact display preference depending on the viewer\u27s perception and relationship formed with the photographic image. When evaluating HDR images across two media platforms, quality attributes comprising of a strong influence towards preference are sharpness, naturalness, contrast and highlights while artifacts, physical qualities and shadows were found to have barely any influence. Within the attributes related to HDR, relationships between attributes are found to be significant regarding image evaluation, leading to areas of further research

Natural language search of structured documents

Thesis (M. Eng.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2008.Includes bibliographical references (leaves 45-47).This thesis focuses on techniques with which natural language can be used to search for specific elements in a structured document, such as an XML file. The goal is to create a system capable of being trained to identify features, of written English sentence describing (in natural language) part of an XML document, that help identify the sections of said document which were discussed. In particular, this thesis will revolve around the problem of searching through XML documents, each of which describes the play-by-play events of a baseball game. These events are collected from Major League Baseball games between 2004 and 2008, containing information detailing the outcome of every pitch thrown. My techniques are trained and tested on written (newspaper) summaries of these games, which often refer to specific game events and statistics. The choice of these training data makes the task much more complex in two ways. First, these summaries come from multiple authors. Each of these authors has a distinct writing style, which uses language in a unique and often complex way. Secondly, large portions of these summaries discuss facts outside of the context of the play-by-play events of the XML documents. Training the system with these portions of the summary can create a problem due to sparse data, which has the potential to reduce the effectiveness of the system. The end result is the creation of a system capable of building classifiers for natural language search of these XML documents.(cont.) This system is able to overcome the two aforementioned problems, as well as several more subtle challenges. In addition, several limitations of alternative, strictly feature-based, classifiers are also illustrated, and applications of this research to related problems (outside of baseball and sports) are discussed.by Stephen W. Oney.M.Eng

Diverse mechanisms of resistance to Pseudomonas syringae in a thousand natural accessions of Arabidopsis thaliana

Plants are continuously threatened by pathogen attack and, as such, they have evolved mechanisms to evade, escape and defend themselves against pathogens. However, it is not known what types of defense mechanisms a plant would already possess to defend against a potential pathogen that has not co-evolved with the plant. We addressed this important question in a comprehensive manner by studying the responses of 1041 accessions of Arabidopsis thaliana to the foliar pathogen Pseudomonas syringae pv. tomato (Pst) DC3000. We characterized the interaction using a variety of established methods, including different inoculation techniques, bacterial mutant strains, and assays for the hypersensitive response, salicylic acid (SA) accumulation and reactive oxygen species production . Fourteen accessions showed resistance to infection by Pst DC3000. Of these, two accessions had a surface-based mechanism of resistance, six showed a hypersensitive-like response while three had elevated SA levels. Interestingly, A. thaliana was discovered to have a recognition system for the effector AvrPto, and HopAM1 was found to modulate Pst DC3000 resistance in two accessions. Our comprehensive study has significant implications for the understanding of natural disease resistance mechanisms at the species level and for the ecology and evolution of plant-pathogen interactions

Computer program documentation for the patch subsampling processor

The programs presented are intended to provide a way to extract a sample from a full-frame scene and summarize it in a useful way. The sample in each case was chosen to fill a 512-by-512 pixel (sample-by-line) image since this is the largest image that can be displayed on the Integrated Multivariant Data Analysis and Classification System. This sample size provides one megabyte of data for manipulation and storage and contains about 3% of the full-frame data. A patch image processor computes means for 256 32-by-32 pixel squares which constitute the 512-by-512 pixel image. Thus, 256 measurements are available for 8 vegetation indexes over a 100-mile square