Today, Friday, February 24, 2012, the University of Utah S.J. Quinney College of Law is hosting a symposium aimed at assessing the current state of financial regulation and financial crises three years after the the collapse and damaging bankruptcy of Lehman Brothers. "Three Years After Lehman: Assessing the Regulatory Reforms on the Next Financial Crisis" features Anton Valukas as a keynote speaker (authored the Valukas report assessing the reasons behind the collapse of Lehman) and includes two panels that will focus on causes of the crisis and whether the Dodd-Frank reform act will protect against future crises. The two panels are entitled: (1) On the Ground: Reliving the Lehman Failure and its Aftermath; and (2) Assessing the Legislative and Regulatory Answers to Lehman.The webcast can be viewed live here. Also the stream will be available for viewing following the conference.
The program will take place as follows at the Sutherland Moot Court room of the University of Utah College of Law:
CONFERENCE SCHEDULE, February 24, 2012
Three years after Lehman Bros. filed the largest Chapter 11 bankruptcy in U.S. history, world financial markets are still unsettled, unemployment in the U.S. remains stubbornly high, and Europe may be on the brink of financial disaster. This symposium considers the role Lehman Brothers’ failure played in the current economic downturn and whether reforms enacted in the wake of the failure are adequate to protect economic markets going forward.
9:30-10:30
Keynote Address – Anton Valukas, Lehman Brothers Bankruptcy Examiner, Chairman, law firm of Jenner & Block
10:30-12:30
On the Ground: Reliving the Lehman Failure and its Aftermath
Moderator: Professor Christian Johnson, S.J. Quinney College of Law at the University of Utah
Professor Ronald H. Filler, Director, Center on Financial Services Law, New York Law School, Managing Director in the Capital Markets Prime Services Division at Lehman Brothers
William F. Kroener, III, Sullivan & Cromwell, former FDIC General Counsel
Robert McLaughlin, partner, Fried Frank
George R. Sutton, partner, Jones Waldo, former Utah Commissioner of Financial Institutions
12:30-1:30
Lunch
1:30-3:30
Assessing the Legislative and Regulatory Answers to Lehman
Moderator and afternoon keynote speaker: Professor Jerry W. Markham, Florida International University School of Law, former secretary and counsel, Chicago Board Options Exchange, Inc.; chief counsel, Division of Enforcement, CFTC
Professor andré douglas pond cummings, West Virginia University School of Law
David Marshall, Senior Vice President, Associate Director of Research and Director of Financial Markets, Federal Reserve Bank of Chicago
Professor Steven Ramirez, Loyola University School of Law, Director Corporate Law Center
WASHINGTON (AP) -- Mortgage giant Fannie Mae said Wednesday that it lost money in the fourth quarter and is asking the federal government for nearly $4.6 billion in aid to cover its deficit ...
ReplyDeleteTaxpayers have spent more than $150 billion to prop up Fannie and Freddie, the most expensive bailout of the 2008 financial crisis. The government estimates that figure could top $259 billion to support the companies through 2014 after subtracting dividend payments.
Fannie has received more than $116 billion so far from the Treasury Department, the most expensive bailout of a single company ...
Fannie Mae and McLean, Va.-based Freddie Mac own or guarantee about half of all mortgages in the U.S., or nearly 31 million home loans. Along with other federal agencies, they backed nearly 90 percent of new mortgages over the past few years.
Fannie and Freddie buy home loans from banks and other lenders, package them with bonds with a guarantee against default and sell them to investors around the world. The companies nearly folded more than three years ago because of big losses on risky mortgages they purchased. -- Yahoo Finance
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