How Government Caused and Worsened the Financial Crisis

John Taylor, Hoover Fellow and Stanford University
What caused the current financial crisis? In the view of Hoover Institution Senior Fellow and Stanford economist John B. Taylor, the blame falls squarely at the feet of government. Professor Taylor’s contrarian perspective crisis holds that the primary cause of the financial crisis was a botched monetary policy by the Federal Reserve under Alan Greenspan along with government efforts, such as promoting home ownership among the poor. Professor Taylor will expand on these in a live, virtual webcast on Wednesday, May 20 at 2 p.m. ET. David S. Evans, an economist who is the editor-in-chief of FinReg21’s Lombard Street, will moderate.
May 20 2009
44 mins
How Government Caused and Worsened the Financial Crisis
TBA
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Financial Regulation

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  • As we near the third anniversary of the passage of the Dodd-Frank Act, many of the principle elements of the regulatory framework for OTC derivatives in the US have been finalised. That being said, given the need for many interpretative releases and no-action or exemptive relief, and various implementation delays, market participants are still grappling with new requirements. This webinar will review the status of:

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    Swap data reporting; and,
    Mandatory clearing;

    Panelists will discuss the major unfinished rulemaking areas. These include:

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    Extraterritoriality;
    Additional mandatory clearing designations;
    SEC Title VII implementation;
    Related areas such as the Volcker Rule, Lincoln Amendment; and,
    Proposed legislation/future prospects.
  • Expense management, employee behaviour and the cost to your organisation

    The 7th annual Concur Employee Expenses Benchmark Report, known as “the definitive annual report into employee expenses in the UK”, analyses £725 million worth of expenses paid to more than 200,000 UK-based employees over the past three years.

    Join David Vine – the report’s author – who will cover:

    • How much employees claimed on expenses last year
    • Where businesses are cutting costs, and where they are missing a trick
    • Which business sectors are leading the way, and which are lagging behind
    • How many employees are exaggerating their expenses, and what can be done about it.

    All attendees will receive a free copy of the full report, executive summary and the infographic, where you can read the analysis of the findings in more detail.

    For more information about Concur visit www.concur.co.uk, or call 00800 4551 6697.
  • In this session, we’ll cover the techniques used to properly and consistently assess the financial and business benefits of a technology investment. We’ll review the tools used to build a financial business case and examine the strengths and weaknesses of metrics such as ROI, TCO, NPV, and Payback. We’ll look at the challenges of credibly estimating direct and indirect benefits, and outline a straight-forward process for estimating indirect benefits.
  • One of the significant changes resulting from the current economic climate has been the level of external scrutiny applied to IT initiatives. CFOs are demanding comprehensive business cases that can both articulate the value that IT brings to a business and withstand vetting by financial analysts. This session will integrate traditional financial models with business value metrics in order to provide an understandable vehicle for obtaining approval for IT Initiatives. Learn how to quantify financial costs and benefits in order to bridge the gap between what a CIO wants and what a CFO needs to justify the IT investment.
  • The demands from our business partners for business technology, business services and IT services are continuously expanding! This is nothing new as there always was an appetite for new technology and services; however in the age of the customer where customer loyalty and empowered customers have lots of choices, IT organizations need (and some are) rethinking on how to better partner with the business teams. The challenges for IT are how to continue managing the existing environment and balance this with investments and innovations given that the IT budgets between now and 2016 stay relatively flat. IT organizations have always “done finance” in some shape or form. So the question to IT organizations and executives is not “Are you doing IT financial management?” but rather “How mature is your IT financial management?”

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  • Financial institutions in Europe and the US are considering a range of products to address their funding needs. It’s a difficult task, as it’s still not known which products will receive beneficial regulatory capital treatment. National regulators also have provided guidance on additional or so-called buffer capital, as well as contingent capital products.

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    · Market experience;
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    · Investor perspective.

    Speakers:
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    · Tom Humphreys, Morrison & Foerster
    · Anthony Ragozino, UBS
    · Danielle Myles, IFLR (moderator)
  • On a daily basis your network is being attacked. Some you may be aware of others are hidden with in applications. Join Dell SonicWALL Director of Threat Research team to learn the following:
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  • The secret to encouraging appropriate behaviour when claiming expenses lies in finding the right balance between people, policy and compliance.

    So what should businesses do to get this right?

    Join engaging speaker, David Vine - Managing Director, Concur as he explains why it’s important to:
    1) Understand the existing corporate culture and promote the right kind of behaviour;
    2) Use technology to make it easier for people to submit appropriate expenses, that match with both company culture and policy.

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  • The Regulation of Derivatives Recorded: Jul 28 2009 88 mins
    This virtual pundit pit webcast looks deeply into issues related to the regulation of derivatives for both the US, the EU, and at a global level. Discussants will cover four main themes:

    -- The Obama Administration's recent proposals on OTC derivatives' trading, clearing, infrastructure and supervision
    -- EU proposals/ECB designs
    -- General global issues related to regulatory reform
  • CARDS and Consequences: The CARD ACT for banks and cosumers Recorded: Jul 22 2009 61 mins
    Four leading credit card experts will debate and discuss: Professor Oren Barr-Gill from New York University School of Law and author of "Making Credit Safer"; Tom Brown a lawyer who has represented Visa; Professor Ron Mann from Columbia University and author of "Charge It"; and Victoria Strayer, Regulatory and Compliance Chief, TSYS, will share her thoughts on what she's hearing from their clients. The discussion will be moderated by David S. Evans, co-author of Paying with Plastic, and a noted expert on the card industry.
  • The Good, the Bad and the Ugly of Obama’s Proposed Fin. Reg. Plan Recorded: Jun 25 2009 60 mins
    Participate in a webcast featuring a live discussion between Arnold Kling, independent scholar and member of the Financial Working Group of the Mercatus Center and Daniel Kauffman, Senior Fellow at Brookings Institution and Former Director of World Bank Institute on - The Good, the Bad and the Ugly of Obama’s Proposed Financial Regulation Plan moderated by David S. Evans.

    We’ll debate the hard questions: What’s going to survive and what’s going to get killed on Capitol Hill? Would we be in this mess if the plan was implemented in 2001? Good idea or bad idea – giving the Fed more responsibility? You also will have an opportunity to ask our experts your toughest questions.
  • A European Perspective on Financial Regulation after the Crisis Recorded: Jun 23 2009 59 mins
    Round table discussion from across the pond with Xavier Vives and Richard Portes, economics professors and research fellows at the London-based Centre for Economic Policy Research (CEPR). The discussion will be followed by a live, online Q&A moderated by Abel Mateus, former deputy chief of the Bank of Portugal, and former head of the Portugese Competition Authority.
  • Experts Weigh Benefits and Disadvantages of Obama's "White Paper" Recorded: Jun 18 2009 53 mins
    A live roundtable discussion with Robert E. Litan, a senior fellow at the Brookings Institution and vice president for research and policy at the Kauffman Foundation, Peter J. Wallison, the Arthur F. Burns Fellow in Financial Policy Studies and co-director of AEI's program on financial policy studies and Lawrence J. White, Professor of Economics at the Leonard N. Stern School at New York University. David Evans, Executive Director of the Jevons Institute for Competition Law and Economics at the University College London and a lecturer at the University of Chicago Law School will moderate.
  • Is One the Right Number? Risks of Moving to a Single Regulator Recorded: Jun 11 2009 43 mins
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  • From Regulatory Capture to “Market-Friendly” Regulatory Reform Recorded: May 28 2009 77 mins
    Discussion of issues related to the current financial crisis and government's proposals for regulatory reform. Moderated by economist David Evans, FinReg21.com editor-in-chief.
  • How Government Caused and Worsened the Financial Crisis Recorded: May 20 2009 44 mins
    What caused the current financial crisis? In the view of Hoover Institution Senior Fellow and Stanford economist John B. Taylor, the blame falls squarely at the feet of government. Professor Taylor’s contrarian perspective crisis holds that the primary cause of the financial crisis was a botched monetary policy by the Federal Reserve under Alan Greenspan along with government efforts, such as promoting home ownership among the poor. Professor Taylor will expand on these in a live, virtual webcast on Wednesday, May 20 at 2 p.m. ET. David S. Evans, an economist who is the editor-in-chief of FinReg21’s Lombard Street, will moderate.
  • A Failure of Capitalism? Recorded: May 14 2009 77 mins
    Is the world’s current financial crisis a failure of government or the market? Richard A. Posner, acclaimed jurist and author of an important and controversial new book, A Failure of Capitalism, debates the compelling question of whether capitalism has indeed failed our financial system and if regulation is the answer in a live webcast on May 14 at 2 p.m. ET. Judge Posner, one of the leading intellectuals of our day, will be joined in this provocative roundtable discussion by two noted experts in financial services: economist Robert E. Litan, who has written extensively on the financial crisis, and Brian P. Brooks, a nationally recognized attorney who specializes in subprime mortgage issues. David S. Evans, an economist who is the editor-in-chief of FinReg21’s Lombard Street will moderate.
  • Creating a Systemic Risk Regulator Recorded: Mar 20 2009 48 mins
    A dialogue between Cathy Allen and Lawrence J. White
    Moderated by David S. Evans
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  • Live at: May 20 2009 6:00 pm
  • Presented by: John Taylor, Hoover Fellow and Stanford University
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