How to Predict the Next Financial Crisis
Date: Tuesday, February 12, 2013
Federal Reserve Bank of Philadelphia, 7th and Arch St
Philadelphia, PA
Join us at the Federal Reserve Bank of Philadelphia on February 12th!
Presentation
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How to Predict the Next Financial Crisis
Richard Vague, President of the Governor’s Woods Foundation and Managing Partner, Gabriel Investments and Steve Clemons, Washington Editor-At-Large, the Atlantic and Senior Fellow at the American Strategy Forum at the New American Foundation will discuss the findings from their recent paper, “How to Predict the Next Financial Crisis”. An article based on the paper appeared in “the Atlantic” in which they argued that “The highly tempestuous debates between Keynesians and deficit hawks distract from the real causes of the Great Recession and from the solution.” and “…that to stimulate jobs and economic growth, financial houses should take phased write downs of assets and give loan holders relief and debt forgiveness” The full article is available on line at: www.theatlantic.com/business/archive/2012/07/economic-growth-idea-forgive-or-restructure-debt-us-citizens-hold/260155/
Anthony Santomero, Senior Advisor to McKinsey& Co. and former President of the Federal Reserve Bank of Philadelphia, and Paul McCulley, Retired PIMCO Senior Partner and Chair, GIC Global Society of Fellows, will serve as discussants commenting on the issues raised by Richard Vague and Steve Clemmons. Peter Burns, GIC Board Member and Senior Payments Advisor, Heartland Systems, will moderate the discussion with panelists and our audience.
Event Location
Speakers
Richard W. Vague
Richard Vague is a managing partner of Gabriel Investments, an early stage investment fund. He is also Chairman of The Governor’s Woods Foundation, a non-profit philanthropic organization, and managing director of The Miletos Group. Previously, he was co-founder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company operating in states throughout the U.S. that was sold to NRG Energy in 2011. Vague was also co-founder and CEO of two credit card companies - First USA, which grew to be the largest Visa issuer in the industry and was sold to Bank One in 1997, and Juniper Financial, the fastest growing credit card issuer of the past decade, which was sold to Barclays PLC in 2004.
Steve C. Clemons
Steve Clemons is Washington Editor-At-Large for The Atlantic and Editor-in-Chief of AtlanticLIVE and QuartzLIVE. He is also Editor-at-Large for Quartz. At AtlanticLIVE, The Atlantic’s premium events division, Clemons develops concepts and editorial content and leads programs as an interviewer, moderator, and host.
Anthony M. Santomero, Ph.D.
Richard K. Mellon Professor Emeritus of Finance at the Wharton School of the University of PennsylvaniaAnthony M. Santomero holds the title of Richard K. Mellon Professor Emeritus of Finance at the Wharton School of the University of Pennsylvania. During his 30-year tenure at Wharton, he held a number of academic and managerial positions, including Deputy Dean of the School.
Paul McCulley
Senior Fellow, Financial Macroeconomics, Cornell Law School's Jack G. Clarke Program on the Law and Regulation of Financial Institutions and MarketsPaul McCulley is Senior Fellow in Financial Macroeconomics for Cornell Law School’s Jack G. Clarke Program on the Law and Regulation of Financial Institutions and Markets. Prior, he was the Chief Economist and Managing Director at PIMCO where he served as a member of the Investment Committee in Newport Beach, and authoring the publication, Macro Perspectives.
Peter P. Burns
Peter Burns is the senior payments advisor at Heartland Payment Systems Inc, working with the company CEO on industry policy issues and internal strategies. He also serves as a director of Barclays Bank Delaware and chairs its audit committee. Additional board and advisory roles with Consumer Credit Counseling Services of the Delaware Valley, the National […]