Elizabeth Warren announces 2016 presidential decision tomorrow before libertarians (livestreamed)

15 Sep

Reforming the Federal Reserve’s Rescue Authority

Policy Forum 
September 16, 2015 11:30AM to 12:45PM

ADD TO CALENDAR
Hayek Auditorium 
Featuring Senator David Vitter (R-LA)Senator Elizabeth Warren (D-MA)Marcus Stanley, Americans for Financial Reform; Phillip Swagel, University of Maryland; Moderated by Ylan MuiWashington Post; and Mark Calabria, Cato Institute. 
The most publicized bailout of the financial crisis was the TARP bill that provided capital injections to a wide range of banks. But most of the assistance to financial firms was provided through a less publicized set of emergency lending programs authorized by Section 13-3 of the Federal Reserve Act. This emergency lending authority supported the Fed’s rescue of AIG, a massive set of guarantees for Citibank, which would have failed without them, and an alphabet soup of lending ‘facilities’ that supported a small set of Wall Street dealers with almost unlimited cheap credit for a period of years.
When Congress examined this issue during the Dodd-Frank Act, they placed new limits on emergency lending that are contained in Section 1101 of the legislation. These limits are clearly intended to limit 13-3 lending to programs that are truly broad based (as opposed to bailing out a small set of insider Wall Street institutions) and to exclude the use of the program for bailouts of institutions that are actually insolvent. Join us as we discuss whether Dodd-Frank’s limitations to the Fed’s 13-3 powers went too far, or not far enough.
11:30 a.m.–12:10 p.m.
Panel 1: A Policy Perspective

Moderated by: Ylan MuiWashington Post

Mark Calabria, Cato Institute
Marcus Stanley, Americans for Financial Reform
Phillip Swagel, University of Maryland
12: 15 – 12:45 p.m.
Panel 2: A Congressional Perspective

Moderated by: Mark Calabria, Cato Institute

Senator David Vitter (R-LA)
Senator Elizabeth Warren (D-MA)
If you can’t make it to the event, you can watch it live online at www.cato.org/live and join the conversation on Twitter using #CatoFedBailout. Follow @CatoEvents .

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: