MasterFeeds

Subscribe in a reader Add to Google Reader or Homepage

Nov 27, 2022

#Russia’s Mass Abduction of #Ukrainians is Genocide

The Ukrainian women and children whom the invaders have abducted and taken far into the interior of Russia are the war's invisible victims — and will remain so even after a truce, whenever it comes. 

As of this summer, the Russians had forcibly deported between 900,000 and 1.6 million Ukrainians — mainly women — from the Ukrainian territories they occupied, including some 260,000 children. Those numbers have grown since then. Just during the Russian retreat from Kherson, for example, the attackers moved perhaps another 60,000 Ukrainians in less than a week. With their bloodcurdling Orwellian euphemisms, the Russians boast that millions of Ukrainians have "found shelter" or "been adopted" in Russia.

Why women and children, in particular? So that the women will bear "Russian" rather than "Ukrainian" babies in the future, and the children will forget they were ever Ukrainian and become Russian instead. That rhymes with one rationale President Vladimir Putin has given all along for his invasion. In his telling, Ukraine isn't a country at all, just a region of Russia suffering from the "false consciousness" that it is a nation. It follows that Putin must destroy Ukraine as a culture, polity and people. One way to do that is to move Ukrainians out, and Russians in. 

If that sounds like an attempt at ethnic cleansing, it is.

Read the whole article on The Economist here: https://www.bloomberg.com/opinion/articles/2022-11-25/russia-s-mass-abductions-of-ukrainian-women-and-children-are-a-form-of-genocide



Oct 15, 2022

Why are all these Venezuelans Coming to NYC?

What to Know About Migrants Coming to NYC From the Border - The New York Times

New York has put itself in this situation due to being the only big city in the nation that is required by law to give shelter to anyone who asks. 

About 7 million refugees and migrants have left Venezuela, a country of 29 million people, as of September.

About 100 Venezuelans were apprehended annually at the border between 2015 and 2018. More than 150,000 were apprehended between October 2021 and the end of August.

The NY Times looks at this peculiar situation.

What to Know About the Migrant Crisis in New York City

Thousands of asylum seekers from Latin America have arrived in the city. Why are migrants coming to New York? And what will happen to them next?

A homeless shelter caseworker, Astrild Siolkowski, 26, helps a Venezuelan migrant family who recently arrived in New York.
Victor J. Blue for The New York Times

Since the spring, thousands of migrants have been arriving regularly at the Port Authority Bus Terminal in Manhattan, most of them Venezuelan families escaping the country's economic collapse.

Many lack ties in the city and have sought housing in the city's homeless shelter system. But officials have struggled to find enough room. The population in the city's main shelter system broke a record set in 2019 after it exceeded 62,000 people in early October. Of that number, about 12,700 were migrants.

Mayor Eric Adams has declared a state of emergency, as the flow of newcomers has yet to slow down. New York officials say 18,600 migrants have arrived in the city since April.

Why are large numbers of migrants coming to New York City now?

About 7 million refugees and migrants have left Venezuela, a country of 29 million people, as of September, according to Response for Venezuelans, a joint effort between the International Organization for Migration and the United Nations High Commissioner for Refugees. It's the second largest external displacement crisis in the world, according to U.N.H.C.R.

Economists said that Venezuela's economic decline has been among the most drastic they have seen, other than in war. The country's finances have teetered under an authoritarian socialist government. In 2019, the Trump administration also imposed sanctions on Venezuela's state-owned oil company as a way to cripple the administration of President Nicolás Maduro — a strategy that was briefly eased under President Biden.

About 7 million Venezuelans have left home. While most stay in Latin America, more have set out for the United States in recent months.
Federico Rios for The New York Times

The vast majority of Venezuelans are staying in other countries in Latin America and the Caribbean. But many Venezuelans have been making the long and dangerous trip to the United States with the knowledge that the U.S. government cannot send them home because it does not have a diplomatic relationship with the Venezuelan government, which severed ties with Washington in 2019.

About 100 Venezuelans were apprehended annually at the border between 2015 and 2018. More than 150,000 were apprehended between October 2021 and the end of August.

After crossing the southern border, thousands have made their way to New York with the help of officials in Texas. Gov. Greg Abbott has sent hundreds in a campaign to provoke outrage and force the federal government to tighten border security. But El Paso, a Democrat-led city, has also sent as many as 7,000 new arrivals to New York at the migrants' request, officials there have said.

How is the city responding?

The city's response to the influx of migrants has been fragmented and reactive as the shelter system has become more strained.

New York City is the only big city in the nation that is required by law to give shelter to anyone who asks. But the city failed to immediately offer beds to 60 single men this summer as the shelter population grew by about 20 percent over the course of four months, and Mr. Adams has suggested the city reassess its unique "right to shelter" policy.

Volunteer groups and city workers have met new arrivals at the Port Authority Bus Terminal, in an effort to connect them with services and shelter.
Dakota Santiago for The New York Times

The city has once again turned to hotels to house homeless people around the city. One hotel near Times Square, the Row, will be turned into an intake and assessment center for about 200 families with children. Over the summer, the city opened about two dozen shelters in six weeks.

In early October, Greglin Salas, a 24-year-old from Venezuela, visited an American Red Cross center in Manhattan that had been set up to assist migrants.

"I'm not working," Ms. Salas said. "I was here asking for help because we don't have money and it's been five days since we arrived here. I got a ticket from them for food and medical insurance."

Mr. Adams has also seriously considered housing migrants on cruise ships. And the city began construction on tent shelters to house about 500 adults on Randalls Island, after the initial location for the tents at the Orchard Beach parking lot, in the Bronx, flooded in the rain.

The winterized tent shelters are not meant to be long-term housing — residents are expected to stay for only four days before they are moved to other shelters.

Some of these options have sparked criticism from elected officials and advocates for homeless people, who say the city should instead reduce red tape so people in shelters can move to permanent housing faster.

What will happen to the migrants next?

Roughly 14,000 migrants are still living in shelters and hotels across the city as of Sunday. About a third of the people who have entered the shelter system don't want to stay in New York, said Fabien Levy, a spokesman for the mayor.

The city is connecting those individuals with organizations that can help them move to another state, he said.

Migrants who are pursuing asylum can continue their cases from wherever they choose to live, said Hasan Shafiqullah, interim attorney-in-charge of the Immigration Law Unit at the Legal Aid Society.

"If they've chosen to stay here, their case will be heard at the federal building in Lower Manhattan," he said. "But they're not trapped here. So, let's say they wanted to move to Illinois or Florida because they have friends or family, they could seek to change the venue of their immigration court case to the Chicago court or the Miami court."

To apply for asylum in the United States, an applicant needs to physically be in the country and the application needs to be submitted within one year of arrival.

The city has case workers who connect with newly arrived asylum seekers in the first days to help them enroll their children in school and find immigration attorneys, Mr. Levy said.

Depending on which immigration judge applications are assigned to in New York City, cases can take three to four years before a final decision is made, Mr. Shafiqullah said. And cases can be complicated and full of delays.

Can migrants work?

Applicants can apply for temporary employment authorization 150 days after successfully filing their asylum application, but are not eligible to receive a work document until then.

"If they came today, they had all their ducks in a row and they applied today for asylum, then they would be waiting at least six months before they could get their work permit," Mr. Shafiqullah said. "If everything went like clockwork."

Julie Lopez, a 35-year-old Venezuelan migrant who has been living with her husband and son in the Skyline Hotel in Hell's Kitchen in Manhattan for the past three months, said she was happy her son had been enrolled in school, but that she was ready to start working.

"I give thanks to God and the president for giving us the opportunity to enter the country safely," she said, and "to the mayor of New York for giving us shelter and not leaving us on the street."

Will the flow of migrants continue?

On Tuesday, it was reported that the Biden administration is considering a humanitarian parole program for Venezuelans in an effort to discourage those fleeing the country from crossing into the country illegally. The program would be similar to one established for Ukrainians and would require Venezuelans who apply to have someone in the United States able to financially support them for up to two years.

But the plan would also allow the government to expel migrants to Mexico if they do not have sponsors in the United States, which would limit the number of people crossing the border.

On Thursday, Gov. Kathy Hochul and Mr. Adams said they were pleased with the Biden administration's new plan.

"We now have a path," Ms. Hochul said. "We're going to start seeing the flow of individuals stemmed."

Emma G. Fitzsimmons, Juan B. Garcia and Jasmine Sheena contributed reporting.

https://www.nytimes.com/article/nyc-migrant-crisis-explained.html

Sep 16, 2022

Why Boys Should Start School a Year Later Than Girls - The Atlantic

illustration of red lego bricks arranged in the shape of a child's T-shirt on white background

Interesting piece on Why Boys Should Start School a Year Later Than Girls

Why Boys Should Start School a Year Later Than Girls

Richard V. Reeves18-23 minutes 14/09/2022

"It was a light-bulb moment for me," Christopher Schroeder, an entrepreneur, an investor, and a father of two boys, told me. His son Jack had been accepted to Beauvoir, the National Cathedral Elementary School, in Washington, D.C. But "it was clear to the school that Jack should wait a year," he said—not because of his academic ability, but to give him more time to become socially and emotionally prepared. "My view was that smart kids should be pushed forward as fast as possible," Schroeder recalled. "But as I laid out my case to the head of the school, she listened patiently, waited a moment, smiled at me, and said, 'What's your rush?' "

Magazine Cover image

Explore the October 2022 Issue

Check out more from this issue and find your next story to read.

View More

Jack started at the school a year later and ended up flourishing, largely, his father thinks, because of the decision not to rush him. When it was time for Jack's younger brother, Ben, to attend the school, he also started a year later—at his parents' insistence. "By then we were thinking, Why not? " Schroeder said.

The idea of a delayed school start—often referred to as "redshirting," a term borrowed from athletics—got a burst of popular attention in 2008, when Malcolm Gladwell presented evidence in his book Outliers that children older than their classmates do better on academic tests and in life generally.

The value of a later start, which many teachers and administrators call "the gift of time," is an open secret in elite circles. And it's a gift overwhelmingly given to boys. In the past few months, I've interviewed dozens of private-school teachers, parents, educational consultants, and admissions officers, largely in the D.C. metro area. I learned that a delayed school entry is now close to the norm for boys who would otherwise be on the young side. One former head of an elite private school who now consults with parents on school choice and admissions told me, "There are effectively two different cutoff dates for school entry: one for boys and one for girls."

When you buy a book using a link on this page, we receive a commission. Thank you for supporting The Atlantic.

Nationally, delayed entry is uncommon. Before the pandemic (which seems to have caused a surge in the practice), about 6 percent of children waited an extra year before beginning kindergarten. But here, too, some children were much more likely to be held back than others: specifically, those with affluent or well-educated parents, and who were white, young for their year, and male. Among summer-born boys whose parents have bachelor's degrees, the rate was 20 percent in 2010.

The reason little boys wear almost all of the red shirts is not mysterious; the fact that boys mature later than girls is one known to every parent, and certainly to every teacher. According to a Rand survey, teachers are three times more likely to delay entry for their own sons than their own daughters. The maturity gap is now demonstrated conclusively by neuroscience: Brain development follows a different trajectory for boys than it does for girls. But this fact is entirely ignored in broader education policy, even as boys fall further behind girls in the classroom.

On almost every measure of educational success from pre-K to postgrad, boys and young men now lag well behind their female classmates. The trend is so pronounced that it can result only from structural problems. Affluent parents and elite schools are tackling the issue by giving boys more time. But in fact it is boys from poorer backgrounds who struggle the most in the classroom, and these boys, who could benefit most from the gift of time, are the ones least likely to receive it. Public schools usually follow an industrial model, enrolling children automatically based on their birth date. Administrators in the public system rarely have the luxury of conversations with parents about school readiness.

But public-school kids should have the same opportunities as private-school kids, and public-school officials should be able to have those conversations. As a matter of policy, the public schools that aren't already flexible about school start should be made so—and I believe that, as the default, all states and school districts should enroll boys a year later than girls.

A proposal to give a boost to boys may sound odd to some, given the inequities that many girls and women still face. But I am betting on our ability to think two thoughts at once. There is much still to be done to promote female representation in politics and corporate leadership, for example. But as to education, boys and men are the ones who need the most help. And it's not an issue only for them. When schools fail boys, those boys grow into men lacking the skills to flourish in the workplace, to be strong partners, or to be good providers for their children. Giving boys the gift of time will help create a better society not just for men, but for women and children too.

In the span of just a few decades, girls and women have not only caught up with boys and men in the classroom—they have blown right past them. Half a century ago, the landmark Title IX law was passed to promote gender equality in higher education. At the time, there was a gap of 13 percentage points in the proportion of bachelor's degrees going to men compared with women. Today, the gender gap is a little wider—15 percentage points as of 2019—but the other way around. For every three female college students, there are only about two men. The trend worsened during the pandemic. College enrollment as a whole declined in 2020—but that decline was seven times greater for male than for female students.

Recommended Reading

These differences on college campuses reflect gender gaps that open up many years earlier. According to a 2012 Brookings Institution study by Julia Isaacs, for instance, American girls are 14 percentage points more likely than boys to be "school ready" at age 5, controlling for parental characteristics. That's a bigger gap than the one between rich and poor children, or Black and white children, or those who attend preschool and those who do not. The gap is mostly driven by social and emotional factors, or what social scientists label "noncognitive skills," rather than academic ones.

Once boys begin school, they almost immediately start falling behind girls. A 6-percentage-point gender gap in reading proficiency in fourth grade widens to an 11-percentage-point gap by the end of eighth grade. In a study drawing on scores across the country, Sean Reardon, a sociologist and education professor at Stanford, found no overall gender difference in math in grades three through eight, but a big one in English. "In virtually every school district in the U.S., female students outperformed male students on ELA [English Language Arts] tests," he writes. "In the average district, the gap is … roughly two-thirds of a grade level."

By high school, the female advantage has become entrenched. The most common high-school grade for girls is now an A; for boys, it is a B. Twice as many girls as boys are in the top 10 percent of students ranked by GPA, and twice as many boys as girls are among those with the lowest grades. It's an international pattern: Across economically advanced nations, boys are 50 percent more likely than girls to fail at all three key school subjects: math, reading, and science. In the U.S., almost one in five boys does not graduate high school on time, compared with one in 10 girls—the rate for boys is about the same as that for students from low-income families.

The basic trend is clear—at every age, on almost every educational metric, across the world, girls are leaving boys in the dust. Among many of the parents I know, a shorthand explanation has developed to explain the struggles of an adolescent child to stay on track, especially academically: "He's a boy."

What is going on here? There are many potential explanations. The feminization of the teaching profession—three out of four K–12 teachers are now women—is not ideal for boys. Neither is the rigid rhythm of the school day, with gym class and recess squeezed out. And the focus on narrow academics rather than vocational learning puts many boys at a disadvantage as well. All true, and all worth addressing.

But I believe the biggest reason for boys' classroom struggles is simply that male brains develop more slowly than female brains—or at least those parts of the brain that enable success in the classroom. The gaps in brain development are clearly visible around the age of 5, and they persist through elementary and middle school. (As Margaret Mead wrote of a classroom of middle schoolers: "You'd think you were in a group of very young women and little boys.")

The brain-development trajectories of boys and girls diverge further, and most dramatically, as adolescence progresses—with the widest gaps around the age of 16 or 17. I hardly need to say that these are crucial years for educational achievement.

Adolescents are wired in a way that makes it hard to make good choices. As the joke goes, when we are young, we sneak out of bed to go to parties; when we get old, we sneak out of parties to go to bed. Laurence Steinberg, a neuroscientist and psychologist at Temple University, has shown how adolescence is essentially a battle between the sensation-seeking part of our brain (Go to the party! ) and the impulse-controlling part (I need to study tonight). During the teenage years, the sensation-seeking part is quite powerful. Our impulse control develops later.

The problem of self-regulation is much more severe for boys than for girls. Flooded with testosterone, which drives up dopamine activity, teenage boys are more inclined to take risks and seek short-term rewards than girls are. Meanwhile, the parts of the brain associated with impulse control, planning, and future orientation are mostly in the prefrontal cortex—the so-called CEO of the brain—which matures about two years later in boys than in girls.

Other relevant centers of the brain follow suit. The cerebellum, for example, plays a role in "emotional, cognitive, and regulatory capacities," according to Gokcen Akyurek, an expert on executive functioning at Hacettepe University, in Turkey. It reaches full size at the age of 11 for girls, but not until age 15 for boys. Similarly, there are sex differences linked to the timing of puberty in the development of the hippocampus, a part of the brain that contributes to memory and learning.

These baseline biological facts are consistent with survey evidence on attention and self-regulation, where the biggest sex differences occur during middle adolescence. "In adolescence, on average girls are more developed by about two to three years," Frances Jensen, the chair of the neurology department at the University of Pennsylvania's Perelman School of Medicine, told School Administrator magazine in a 2017 interview.

It is important to note that we are talking averages here. But Jensen's point won't shock many parents. I have three sons, now grown. When they brought home female friends during their middle- and high-school years, the difference in maturity was startling. (We delayed the school start for one of our boys by a few months, but given his struggles, we wish we'd done so for a full year.) The typical 15-year-old girl and boy don't seem like different sexes; they seem like different species.

There's a heated argument today over the extent of biologically based differences in adult male and female psychology. For what it's worth, I think both sides—one asserting large, consequential differences and the other denying any real differences at all—overstate their case. But almost entirely overlooked in this debate is the uncontroversial evidence for differences in brain maturation. By far the biggest sex difference is not in how female and male brains develop, but when. The relationship between chronological age and developmental age is different for girls and boys. From a strictly neuroscientific perspective, the education system is tilted in favor of girls.

This was never the intention, of course. After all, the education system was mostly created by men. The gender bias was just hard to see when girls were discouraged from pursuing higher education and careers. But now that these barriers have been lowered, girls' advantages in school have become more apparent with every passing year. An unexpected result of feminism has been to reveal the ways in which education is failing boys.

Would a delayed start for boys meaningfully narrow, or even eliminate, the gender gap? I don't know for sure. This kind of proposal demands a series of pilot programs before widespread adoption by school districts or states. But the evidence already available on the benefits of an extra year of maturity for boys makes me hopeful. Studies of redshirted boys have shown dramatic reductions in hyperactivity and inattention during elementary school, lower chances of being held back later, higher test scores, and higher levels of life satisfaction.

One striking study, by Diane Whitmore Schanzenbach of Northwestern and Elizabeth Cascio of Dartmouth College, drew on data from Tennessee to study the impact of a delayed school start. The children in their sample were allocated randomly into different classrooms. They were disproportionately from poor homes and were racially diverse: Half were getting free or reduced-price lunch in kindergarten, and a third were Black.

Overall, Schanzenbach and Cascio found that being a year older had a positive impact on eighth-grade test scores, reduced the risks of repeating a grade before high school, and improved the chances of taking the SAT or ACT. The benefits for boys were at least twice as big as for girls on all measures through eighth grade. By high school, only boys were seeing any gains.

Cascio and Schanzenbach also found that lower-income students benefited most from redshirting. The risk of being held back a grade is massively unequal by race, gender, and economic background: One in four Black boys has repeated at least one grade before leaving high school. Redshirting boys from the outset greatly reduced that risk.

Lastly, they found that the younger classmates of redshirted children suffered no negative consequences. If anything, they wrote, there were modestly positive spillover effects. That's one reason to believe that girls would only be helped by this shift—having more mature boys in classrooms would likely improve the learning environment. In schools with high rates of delayed school entry for boys, such as the private schools in the D.C. area that I examined, the girls appear to be doing very well.

Cascio and Schanzenbach's research is the most robust to date, but their findings have been confirmed by a number of other studies. And related research has shown that redshirted boys are happier, too. Suzanne Stateler Jones of Collin College interviewed summer-born boys and found a much higher level of life satisfaction among those who had been redshirted compared with their peers. Among those who started school at the prescribed age, she has said, a common refrain was "I'm always trying to keep up." But she said the overall message from the older boys was "They loved it, liked being older, no problem with it, can't think of any way it's hurt, it's only helped." Jones also interviewed parents and asked them what they would do if they had another summer-born son. Overwhelmingly, they told her, "We would redshirt."

Redshirting has the virtue of simplicity. Changing the default school-starting age would be much easier, for example, than moving toward single-sex schools, which don't appear to help boys (or girls) very much in any case, and may introduce social distortions by segregating boys from girls throughout childhood. Boys and girls don't need to go to different schools, but rather to the same school at different times in their life.

The policy could be phased in gradually, starting with the youngest boys and then expanding each year until all boys are covered. Parents should be at liberty to override the default, for both sons and daughters, just as they can at many schools in the current system.

There is one major drawback: Delaying school entry would put pressure on parents to provide child care for another year. This is no doubt one reason low-income parents are less likely to redshirt their children now. In my view, any large-scale redshirting program would need to be paired with public investments in child care and pre-K. But these investments are much needed in any case—and if I'm right about the benefits of redshirting, they will almost certainly outweigh the costs.

Those benefits are of course lifelong, and they extend well beyond the fortunes of any particular boy. Boys who fail at school grow into men who are likely to struggle in life. Poorly educated men face a brutal labor market, as job opportunities in traditionally male, blue-collar occupations evaporate. Among men with only a high-school education, one in three is out of the labor force. For those who have a job, typical earnings are $881 a week, down from $1,017 in 1979.

The social consequences of these economic woes are profound. The marriage rate of men ages 40 to 44 with a high-school education or less has dropped by more than 20 percentage points over the past 40 years (versus 6 percentage points for those with a four-year college degree). One in five fathers lives apart from his children, and these fathers are disproportionately less educated. Rates of "deaths of despair," from suicide, alcohol, or an overdose, are almost three times higher among men than women.

Boys from affluent families are generally doing okay, in part because their parents have the time and resources to help them out—including by having them start school a year later. And men at the top of the earnings distribution have seen a steep rise in wages in recent decades. It is working-class boys and men—and disproportionately Black boys and men—who are at the sharp end of the stick.

It's hard for some people to get their head around the idea that in many areas of life, and above all in education, boys and men are now the ones who need the most help. We have a National Coalition for Women and Girls in Education, but no equivalent for men. Thousands of academic scholarships are aimed at young women, almost none at young men. This lag is understandable, given the dizzying speed with which the gender gap has reversed. But we can start to address this new gap—right now, at the very beginning of the educational journey—simply by giving boys an extra year to mature.

"We were incredibly lucky to have been given this opportunity to give our boys this chance to go at their own pace," Christopher Schroeder told me of his sons' delayed start, a gift of time made at the urging of their school. "Why can't everyone have that?"


This essay is adapted from Richard V. Reeves's forthcoming book, Of Boys and Men: Why the Modern Male Is Struggling, Why It Matters, and What to Do About It. It appears in the October 2022 print edition with the headline "Redshirt the Boys."

--
Daniel J. Macias
djm@petrofund.com
T +41-79-937-7688

ShareThis


The MasterFeeds

MasterSearch

Categories

MasterFeeds News Finance china USA money stocks debt Venezuela Commodities Gold United States Dollars bonds Banks trading Markets economics FED Hedge funds Israel Oil Asia LatAm default credit metals Mining international relations russia central_banks democracy elections CapitalMarkets HFT zerohedge Euro Japan Silver India Iran Middle East SEC bailout Africa Europe Liberalism Trade UN bitcoin insider trading Agriculture FX Tech Trump VC copper corruption real estate Brazil CoronaVirus ForEx Gold Silver Hamas Maduro NYSE WeWork chavez food goldman government Abu Dhabi Arabs EU Facebook France IPO NASDAQ Palestinians SWF TARP Turkey canada ponzi recession revolution war Anti-Israel Cannabis Capitalism Citigroup Democrats EIA Hezbollah Jobs Lebanon NYC PDVSA Saudi Arabia Softbank Stats Syria Ukraine demographics socialism 13F AIG Advertising Berkshire Hathaway CBO Cargill Colombia Cryptocurrency ETF Ecuador Emerging Markets Eton Park Google Housing IMF JPM LME Mindich Mongolia OPEC PIIGS Pakistan Palantir Paulson Pensions Peru Politics Potash QE Scams Singapore Spain UK Yuan blockchain companies crash cybersecurity data freedom humor islam kleptocracy nuclear propaganda social networks startups terrorism Airlines Andorra Angola Apple Automobiles BAC BHP Blackstone COMEX Caracas Coal Communism Crypto DRC DSK Double-Dip EOS Egypt FT Fannie Mae Form Foxconn Freddie GM Gbagbo History ICO Iraq Italy Ivanhoe Ivory Coast Juan Guaido Lava Jato Libya London M+A MasterEnergy Mc Donald's Miami Mugabe Norway Norwegian Odebrecht Oyo PA PPT Panama QE2 Republicans Rio Ron Paul ShengNu Soleimani South Africa Tokens Tunisia UN Watch UNESCO UNHRC Uber VW Wyclef anti-semitism apparel bang dae-ho cash censorship chile clothing coffee cotton derivatives emplyment foreclosures frontrunning haiti infrastructure labor levi's mortgages philosophy shipping social media treasury women