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Tag: economics

What is NSF?

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NSF is The National Science Foundation

The NSF is a United States government agency that supports fundamental research and education in all the non-medical fields of science and engineering. With an annual budget of about US$7.0 billion (fiscal year 2012), the NSF funds approximately 24% of all federally supported basic research conducted by the United States colleges and universities. In some fields, such as mathematics, computer science, economics, and the social sciences, the NSF is the major source of federal backing.

The NSFs director and deputy director are appointed by the President of the United States, and confirmed by the United States Senate, whereas the 24 presidentially appointed members of the National Science Board (NSB) do not require Senate confirmation. The current NSF director, confirmed in March 2014, is astronomer France A. Córdova, former president of Purdue University.

Source: Wikipedia

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Blind Trust

What is a Blind Trust?

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A Blind Trust is an asset holding construction

A blind trust is a trust in which the trust beneficiaries have no knowledge of the holdings of the trust, and no right to intervene in their handling

In a blind trust, the trustees (fiduciaries, or those who have been given power of attorney) have full discretion over the assets. Blind trusts are generally used when a trust creator (sometimes called a settlor, trustor, grantor, or donor) wishes for the beneficiary to be unaware of the specific assets in the trust, such as to avoid conflict of interest between the beneficiary and the investments.

Politicians or others in sensitive positions often place their personal assets (including investment income) into blind trusts, to avoid public scrutiny and accusations of conflicts of interest when they direct government funds to the private sector.

Source: Wikipedia

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