Columbia Encyclopedia

Search results

216 results found

Resolution Trust Corporation

(Encyclopedia)Resolution Trust Corporation (RTC), in U.S. history, government-owned company formed in 1989 to liquidate the assets of insolvent savings and loan associations (S&Ls). Essentially a huge property-...

Reconstruction Finance Corporation

(Encyclopedia)Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in th...

Home Owners' Loan Corporation

(Encyclopedia)Home Owners' Loan Corporation (HOLC), former U.S. government agency established in 1933 to help stabilize real estate that had depreciated during the depression and to refinance the urban mortgage deb...

Federal Deposit Insurance Corporation

(Encyclopedia)Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $250...

Federal Home Loan Mortgage Corporation

(Encyclopedia)Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, government-sponsored enterprise that uses private capital to buy home mortgages as a means to help lower housing costs. A sister ...

Carnegie Corporation of New York

(Encyclopedia)Carnegie Corporation of New York, foundation established (1911) to administer Andrew Carnegie's remaining personal fortune for philanthropic purposes. Initially endowed with $125 million, the foundati...

stock, in finance

(Encyclopedia)stock, in finance, instrument certifying to shares in the ownership of a corporation. Bonds are similar evidences of shares in a loan to a corporation. Stock yields no dividends until claims of bondho...

Brookhaven National Laboratory

(Encyclopedia)Brookhaven National Laboratory, scientific research center, at Upton (town of Brookhaven), Long Island, N.Y. It was founded in 1947 by Associated Universities, a management corporation sponsored by ni...

Gary, Elbert Henry

(Encyclopedia)Gary, Elbert Henry, 1846–1927, American lawyer and industrialist, b. near Wheaton, Ill., grad. Union College of Law, Chicago, 1868. Rising rapidly as a corporation lawyer, he became mayor of Wheaton...

Blount, Winton Malcolm, Jr.

(Encyclopedia)Blount, Winton Malcolm, Jr., 1921–2002, U.S. postmaster general (1969–71), b. Union Springs, Ala. A successful building contractor, he was (1946–68) president and chairman of the board of Blount...