Search results for ""Author Mark H. Rose""

Although most Americans attribute shifting practices in the financial industry to the invisible hand of the market, Mark H. Rose reveals the degree to which presidents, legislators, regulators, and even bankers themselves have long taken an active interest in regulating the industry. In 1971, members of Richard Nixon's Commission on Financial Structure and Regulation described the banks they sought to create as "supermarkets." Analogous to the twentieth-century model of a store at which Americans could buy everything from soft drinks to fresh produce, supermarket banks would accept deposits, make loans, sell insurance, guide mergers and acquisitions, and underwrite stock and bond issues. The supermarket bank presented a radical departure from the financial industry as it stood, composed as it was of local savings and loans, commercial banks, investment banks, mutual funds, and insurance firms. Over the next four decades, through a process Rose describes as "grinding politics," supermarket banks became the guiding model of the financial industry. As the banking industry consolidated, it grew too large while remaining too fragmented and unwieldy for politicians to regulate and for regulators to understand—until, in 2008, those supermarket banks, such as Citigroup, needed federal help to survive and prosper once again. Rose explains the history of the financial industry as a story of individuals—some well-known, like Presidents Kennedy, Carter, Reagan, and Clinton; Treasury Secretaries Donald Regan and Timothy Geithner; and JP Morgan CEO Jamie Dimon; and some less so, though equally influential, such as Kennedy's Comptroller of the Currency James J. Saxon, Citicorp CEO Walter Wriston, and Bank of America CEOs Hugh McColl and Kenneth Lewis. Rose traces the evolution of supermarket banks from the early days of the Kennedy administration, through the financial crisis of 2008, and up to the Trump administration's attempts to modify bank rules. Deeply researched and accessibly written, Market Rules demystifies the major trends in the banking industry and brings financial policy to life.

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The “Pittsburgh Renaissance,” an urban renewal effort launched in the late 1940s, transformed the smoky rust belt city’s downtown. Working-class residents and people of color saw their neighborhoods cleared and replaced with upscale, white residents and with large corporations housed in massive skyscrapers. Pittsburgh’s Renaissance’s apparent success quickly became a model for several struggling industrial cities, including St. Louis, Cleveland, Detroit, Chicago, and Philadelphia. In A Good Place to Do Business, Roger Biles and Mark Rose chronicle these urban “makeovers” which promised increased tourism and fashionable shopping as well as the development of sports stadiums, convention centers, downtown parks, and more. They examine the politics of these government-funded redevelopment programs and show how city politics (and policymakers) often dictated the level of success. As city officials and business elites determined to reorganize their downtowns, a deeply racialized politics sacrificed neighborhoods and the livelihoods of those pushed out. Yet, as A Good Place to Do Business demonstrates, more often than not, costly efforts to bring about the hoped-for improvements failed to revitalize those cities, or even their downtowns.

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The “Pittsburgh Renaissance,” an urban renewal effort launched in the late 1940s, transformed the smoky rust belt city’s downtown. Working-class residents and people of color saw their neighborhoods cleared and replaced with upscale, white residents and with large corporations housed in massive skyscrapers. Pittsburgh’s Renaissance’s apparent success quickly became a model for several struggling industrial cities, including St. Louis, Cleveland, Detroit, Chicago, and Philadelphia. In A Good Place to Do Business, Roger Biles and Mark Rose chronicle these urban “makeovers” which promised increased tourism and fashionable shopping as well as the development of sports stadiums, convention centers, downtown parks, and more. They examine the politics of these government-funded redevelopment programs and show how city politics (and policymakers) often dictated the level of success. As city officials and business elites determined to reorganize their downtowns, a deeply racialized politics sacrificed neighborhoods and the livelihoods of those pushed out. Yet, as A Good Place to Do Business demonstrates, more often than not, costly efforts to bring about the hoped-for improvements failed to revitalize those cities, or even their downtowns.

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The Best Transportation System in the World focuses on the centrality of government in organizing the nation's transportation industries. As the authors show, over the course of the twentieth century, transportation in the United States was as much a product of hard-fought politics, lobbying, and litigation as it was a naturally evolving system of engineering and available technology. For example, in the mid-1950s, President Eisenhower, concerned about a railroad industry in decline, asked Congress to grant railroad executives authority to modify prices and service even as he introduced the legislation that provided for the national highway system. And as early as the 1960s, presidents across the political spectrum, including Johnson, Nixon, Ford, and Carter, sought broad deregulation of the transportation industry in order to prime the economic pump or, in the 1970s, reverse stagflation. At every turn, the authors contend, political considerations served to shape the businesses and infrastructure that Americans use to travel.

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