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LEVERAGED BUYOUT: A method of corporate takeover or merger popularized in the 1980s in which the controlling interest in a company's corporate stock was purchased using a substantial fraction of borrowed funds. These takeovers were, as the financial-types say, heavily leveraged. The person or company doing the "taking over" used very little of their own money and borrowed the rest, often by issuing extremely risky, but high interest, "junk" bonds. These bonds were high-risk, and thus paid a high interest rate, because little or nothing backed them up.

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Lesson 20: Federal Reserve System | Unit 3: The Fed Pyramid Page: 11 of 20

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  • The structure of the Fed, which is composed of: (a) Chairman of the Board of governors, (b) Board of Governors, (c) Federal Reserve Banks, (d) commercial banks, and (e) the non-bank public.
  • That the Board of Governors is the policy making body of the Fed, which sets the regulations, rules and policies affecting the money supply and the commercial banking system.
  • That the Fed is largely independent of the President and Congress.
  • The Federal Open Market Committee, which is responsible for monetary policy.
  • The Federal Advisory Council, which is totally advisory, does not set policy nor impose regulations.
  • That there are 37 Federal Reserve Banks responsible for implementing the policies and regulations of the Board of Governors.
  • Commercial banks that form the base of the Federal Reserve pyramid.

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BANK RESERVES

Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.

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Today, you are likely to spend a great deal of time watching infomercials trying to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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