What to do about Too Big To Fail?
Weds., Sept. 9, 2009, 10:00 - 11:30 A.M.
A handful of financial institutions that grew enormous through leveraging and the use of complex derivatives were at the heart of the U.S. financial crisis last fall. Because authorities feared the failure of these "Too Big To Fail" institutions would cause global panic, they were propped up with billions of dollars in government cash, loan subsidies and guarantees. There is now a growing consensus among economists that more aggressive steps must be taken to rein in the TBTF institutions, either through a tax to balance the advantages of an implied government guarantee, or through outright limits on size or interconnectedness.
Please join the Economic Policy Institute for a discussion of these issues with noted experts, who will describe the current landscape and potential avenues for reform.
John H. Boyd, Kappel Chair in Business and Government, Carlson School, University of Minnesota, and consultant for the Federal Reserve Bank of Minneapolis
Albert A. Foer, President, American Antitrust Institute
Simon Johnson, Ronald A. Kurtz Professor of Entrepreneurship at MIT's Sloan School of Management and former IMF director of research
Nancy Cleeland, Director, EPI Bailout Analysis Project
Registration will begin and coffee and light breakfast will be available at 9:30 a.m.
Economic Policy Institute, 1333 H Street NW, Suite 300 East Tower, Washington DC
(Near McPherson Square Metro (Orange/Blue lines) and Metro Center (Red line))
Space is limited, please RSVP here to attend this event.