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FDIC: The abbreviation for Federal Deposit Insurance Corporation, which is a program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. The FDIC operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.
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REVENUE EFFECT The generation of revenue used to finance government operations that results from placing taxes on economic activity. The revenue effect is the primary reason that governments impose taxes on members of society. Without the revenue generated from taxes, governments could not provided valuable and essential public goods nor undertake other government operations. This is one of two effects of taxation. The other is the allocation effect, which is the change in resource allocation that results because taxes create disincentives to produce, consume, and exchange.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for small children selling products door-to-door.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"What gets measured gets done." -- Peter Drucker, educator
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SEBI
Bombay Stock Exchange (India)
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