Financial Crisis Series – 4 Part Special Discount
FINANCIAL CRISIS SERIES
4 Segments (1 Per Date) - November 11, 12, 13 and 14
In recent months, the United States financial system has been rocked to its foundation. Bear Stearns, Lehman Brothers and AIG – all major financial institutions that collapsed virtually overnight. On an almost daily basis the Federal Reserve and Treasury Department have desperately struggled to stem the tide, pumping trillions of dollars of liquidity into frozen financial and credit markets. And recently Congress passed a $700 billion bailout package to purchase toxic securities from banks. The pace of changing has been stunning and deeply unsettling. This four part series will provide you a practical guide to the changes in the financial system, from the massive new Congressional bailout to the implosion of the housing sector, to selling toxic assets to the government and new changes in banking regulation.
SEGMENT 1: Understanding the “Bailout”: An Overview of Sprawling Changes to Banking, Accounting and Real Estate
First Run Broadcast: November 11, 2008 (90 minutes)
- Background of crisis: Collapse of the housing market, growth of collateralized debt obligations, and rising defaults
- Congressional Action: Detailed review of Emergency Economic Stabilization Act of 2008
- Federal Reserve Activity: interest rates, new lending facilities, commercial paper intervention, loans to industry
- SEC Activity: rules changes and enforcement activity
- Recapitalization of banks across the nation
John L. Douglas, Paul, Hastings, Janofsky & Walker, LLP, Washington, D.C. & Atlanta Mr. Douglas concentrates his practice in the regulation of financial institutions, in mergers and acquisitions and other transactions involving banks and thrifts. He formerly served as General Counsel of the Federal Deposit Insurance Corporation, during a period of unprecedented stress on the financial system and assisted in the organization of the Resolution Trust Corporation.
SEGMENT 2: Getting Under the TARP (Troubled Asset Relief Program): Selling “Toxic” Assets to the Government & Government Purchases of Bank Stock
First Run Broadcast: November 12, 2008 (90 minutes)
- Recapitalization of banks across the nation, big and small, through Treasury purchases of bank stock
- Assets classes that may be sold to government under TARP
- Structure for the sale/purchase of assets
- Pricing of purchased assets
- Federal insurance for troubled assets
Kevin L. Petrasic, Paul, Hastings, Janofsky & Walker, LLP, Washington, D.C. Mr. Petrasic advises financial services firms and depository institutions on a wide array of regulatory, legislative, transactional and compliance issues. He has extensive understanding and experience working with the Federal banking agencies. Mr. Petrasic formerly served as special counsel to the Office of Thrift Supervision and as counsel to the U.S. House Banking Committee.
SEGMENT 3: Impact of the Credit Crisis on Banking Regulations: New Rules of the Road
First Run Broadcast: November 13, 2008 (90 minutes)
- Guarantees of bank debt
- Substantial changes to deposit insurance coverage
- Interbank lending
- Creation of Commercial Paper Funding Facility
- Substantial expansion of Term Auction Facility
- Payment on interest on reserves
- Much more
Kevin L. Petrasic, Paul, Hastings, Janofsky & Walker, LLP, Washington, D.C. Mr. Petrasic advises financial services firms and depository institutions on a wide array of regulatory, legislative, transactional and compliance issues. He has extensive understanding and experience working with the Federal banking agencies. Mr. Petrasic formerly served as special counsel to the Office of Thrift Supervision and as counsel to the U.S. House Banking Committee.
SEGMENT 4: Housing Market: Fannie, Freddie, and Foreclosure Abatement
First Run Broadcast: November 14, 2008 (90 minutes)
- New underwriting standards for conforming loans
- What Fannie and Freddie will buy from banks and will not
- Foreclosure mitigation efforts under the bailout legislation
- New residential loan servicing standards
- New housing goals: The New Fannie and Freddie
Suzanne F. Garwood, Venable, LLP, Washington, D.C. Ms. Garwood’s practice focuses on financial services and consumer credit. She has extensive experience working with mortgage originators and purchasers in the secondary market. She formerly worked at for the National Association of Federal Credit Unions as primary liaison to the National Credit Union Administration.
