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A subprime loan to straw borrower Charlotte Delaney was used to fraudulently strip equity from an elderly African American couple in Chicago. Following this loan from origination to securitization highlights responsibility for the wave of early payment default loans that contributed to the implosion of subprime lending. The Delaney loan, funded by subprime lender Mortgage Investment Lending Associates (MILA), was representative of the stated income, no down payment loans that defaulted in 2006 at the peak of the subprime bubble. MILA was suffering financially from demands to repurchase loans and was insolvent as early as 2004. MILA underwriters approved the Delaney loans despite obvious indications of fraud. Goldman Sachs bought MILA loans for inclusion in a $1.5 billion residential mortgage-backed security. Goldman Sachs warned investors that subprime loans were high risk and promised extensive due diligence. When subpoenaed for evidence of due diligence on MILA, Goldman Sachs provided none. The drive to generate profits through securitization explains why Goldman Sachs did not investigate and did not uncover MILA's inability to repurchase a growing portfolio of early payment default loans. Competition to buy subprime loans for securitization relieved lenders like MILA of pressure to verify that their loans were sustainable and not fraudulent.

In this chapter, I discuss the artistic representation of the musical illustration of funeral rites and ceremonies in contemporary Poland. The death of a person in many cultures is perceived as an important point in the life of a given community, especially a family; hence, people tend to express feelings stemming from these circumstances through art. Songs sung at funerals and during the mourning period have been used for centuries as a way for the living to express their grief for the person who has died. From an anthropological point of view, the main function of music accompanying funeral rites is to help family and friends of the deceased recover from their loss.

To illustrate my argument, I analyse the recording of folk songs by Adam Strug and Kwadrofonik: ‘Requiem Ludowe’ (‘The Folk Requiem’), released on CD in 2013. The musical motifs and lyrical themes are based on original folk tunes of Eastern Poland (Podlasie and Lubelszczyzna regions) that are still used in the villages during the bereavement period. The songs on the CD, which are: ‘Czemu tak rychło, Panie’ (‘Why is it So Soon, my Lord’); ‘Żegnam cię mój świecie wesoły’ (‘Goodbye my Merry World’); ‘Żegnam was mitry i korony’ (‘Goodbye to you Mithra and Crowns’); ‘Żegnam was wszystkie elementa’ (‘Goodbye to you all the Elements’); ‘Powiem prawdę świecie tobie’ (‘I Shall Tell you the Truth, my World’); ‘Piekło’ (‘The Hell’); ‘Czyściec’ (‘The Purgatory’); ‘Niebo’ (‘The Heaven’); and ‘Wieczność’ (‘The Eternity’) are rooted in Christian funeral traditions and they are supplemented by elements of Slavic folklore.

The lyrics of the mourning songs published on the recording display a specific attitude to the mythology of death and bereavement present in the culture of Polish peasants. The main themes of these folk songs, namely, the praise of the deceased, the grief of the remaining family, the preparation of the dead one for eternal life or the attempts to cross the threshold of life and death, are presented by the artists as the soul’s journey from the Earth to the Underworld, and through Purgatory to Eternal life as a final stage of a person’s destination. They show how the rural people imagine death itself and express their feelings of loss and grief in art to overcome the fear of the unknown.

Can we model politics as exclusively based on self-interest, leaving virtue aside? How much romance is there in the study of politics? We show that James Buchanan, a founder of public choice and constitutional political economy, reintroduces a modicum of romance into politics, despite claiming that his work is the study of “politics without romance”: Buchanan’s model needs an ethical attitude to defend rules against rent-seeking.

We claim that Adam Smith, more than David Hume, should be considered one of the primary intellectual influences on Buchanan’s public choice and constitutional political economy. It is commonly believed that Hume assumes in politics every man ought to be considered a knave, making him an influence on Buchanan’s idea of politics without romance. Yet, it is Smith who, like Buchanan, describes rent-seeking and suggests that public virtues may be the remedy through which good rules maintaining liberty and prosperity can be generated and enforced. Smith, like Buchanan, rejects sole reliance on economic incentives: the study of politics needs some romance.

Most years, several AIB members are elected as AIB Fellows on account of their excellent international business scholarship, and/or past service as AIB President or Executive Secretary. The Fellows are in charge of electing Eminent Scholars as well as the International Executive and International Educator (formerly, Dean) of the Year, who often provide the focus for Plenary Sessions at AIB Conferences. Their history since 1975 covers over half of the span of the AIB and reflects many issues that dominated that period in terms of research themes, progresses and problems, the internationalization of business education and the role of international business in society and around the globe. Like other organizations, the Fellows Group had their ups and downs, successes and failures – and some fun too!

This remembrance discusses the intellectual climate and circumstances under which David Maines came to the Metro Detroit area in the early 1990s. It discusses his impact on graduate students at Wayne State University and how he met the historian Linda Benson whom he would marry. It chronicles his arrival to the Department of Sociology and Anthropology at Oakland University in Rochester, Michigan in 1997, which provided him a well-deserved academic home after his long 25-year journey in academia. Maines was tenured there in 1998, promoted to full professor in 1999 and chaired the department from 2000–2006.

Advances in Econometrics is a series of research volumes first published in 1982 by JAI Press. The authors present an update to the history of the Advances in Econometrics series. The initial history, published in 2012 for the 30th Anniversary Volume, describes key events in the history of the series and provides information about key authors and contributors to Advances in Econometrics. The authors update the original history and discuss significant changes that have occurred since 2012. These changes include the addition of five new Senior Co-Editors, seven new AIE Fellows, an expansion of the AIE conferences throughout the United States and abroad, and the increase in the number of citations for the series from 7,473 in 2012 to over 25,000 by 2022.