When a newscaster refers to TARP and ABS* we can be relatively sure she is not talking about waterproofed canvases and abdominal muscles. Due to the current financial crisis and our nation’s recovery efforts obscure acronyms and terms have become commonplace in nightly newscasts. If you are wondering what these acronyms stand for and how they affect your daily life don’t worry, there are resources that make the mysterious and exotic world of finance understandable to the average person.
Cleveland Public Library has a variety of resources that can help you better understand our current economic situation and what is being done to rectify the problem. The list below contains books and resources that have come out recently regarding our nation’s economy and recovery efforts.
If you only need the definition of a single word or would like something more in depth please feel free to contact the Business, Economics, and Labor Department at (216)-623-2927.
* Troubled Asset Relief Program (TARP) and Asset Backed Securities (ABS)
For the past few years the Cleveland Public Library has participated in Cleveland Saves Week, which this year runs from February 22 to March 1, 2009. In March we will also celebrate Women’s History Month by focusing on workshops relating to Women and Money.
The idea of a community initiative around saving is not new. In 1916, the Young Men’s Christian Association (YMCA) began “Thrift Week.” Preparing the country for entry into World War I was the original purpose but the thrift movement continued into the 1920s. “National Thrift Week” was observed in over 300 cities and included sponsorship by the public library. Banks marketed to young customers with savings programs geared toward them. Click here to see a fun example of a "savings and thrift" book from 1920s.