TARP: The Accomplishments, The Future

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Recorded Jan 21, 2010

Presenter: Professor Elizabeth Warren

Duration: 60 minutes w/30 minute Q&A session.

Join us in a conference call with Harvard Law Professor Elizabeth Warren, chair of the Congressional Oversight Panel on TARP, to discuss the current state of the $700 billion bank rescue fund passed into law during the height of the economic crisis. This offer is with our compliments. As an industry leader who is invested in helping the banking industry better understand government recovery efforts, we believe this will be an informative hour. Questions and answers follow.

With the Troubled Asset Relief Program moving into a new stage - Treasury Secretary Timothy Geithner recently announced he would extend his authority to use TARP through October 2010 and the exiting of most of the largest recipients of TARP funds from the program - Warren will highlight what her Panel believes TARP has accomplished to date and what's on the horizon in the coming months.

• TARP was a key component of the federal government's efforts to stop the economic panic in the fall of 2008, but many of the goals set by Congress for the program - foreclosure mitigation, increasing lending to consumers and small businesses, and an upturn in the broader economy - remain elusive
• The Panel is concerned about the health of the commercial real estate financing markets, particularly as it applies to community and regional banks that hold higher concentrations of this debt and are more likely to hold it as whole loans instead of securitized debt Moral hazard, created by the implicit guarantee that the government would bear any burden and pay any price to prevent a collapse of the financial system, continues to distort pricing and infect risk calculations
• The largest financial institutions in many ways have been affected much differently than community and regional banks by the government's intervention - and face different sets of challenges going forward
• While the Treasury Secretary's authority to make new commitments under TARP ends in October, it could be years if not decades before the government fully disposes of all TARP assets and commitments

This is the first conference in our High Profile Series.

Presenter Bio:

Professor Elizabeth Warren is the Leo Gottlieb Professor of Law at Harvard Law School where she teaches contract law, bankruptcy, and commercial law. Professor Warren is the Chair of the Congressional Oversight Panel created to oversee the U.S. banking bailout (Troubled Asset Relief Program). In that role, she has provided a critical check on the U.S. Department of the Treasury and has been a leading advocate for accountability and transparency.

Disclaimer: The views and opinions of webinar presenters are not necessarily the views or opinions of Sheshunoff Consulting + Solutions. The materials covered are for the benefit of supplying up-to-date information and varying perspectives

 

Continuing Professional Education Credit

Delivery Method: Group Internet-based       CPE Credits: 1
Program Level: Overview       Prerequisites: None       Advance Preparation: None
Registration: To register online, please select the time in the box in the upper right or call us at 1.800.477.1772

 

Sheshunoff Consulting + Solutions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasbatools.com.

 

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