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Ten years later: Lessons from the 2008 financial crisis

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Ten years later: Lessons from the 2008 financial crisis

William Antholis, Sarah Binder, Robert Bruner, Jeffry Frieden, Gary Gorton, Graciela Kaminsky, David Leblang, Frances Lee, Julia Mahoney, Daniel Meyer, Carmen Reinhart, Hal Scott, Linda Tesar

Thursday, September 13, 2018
10:00AM - 3:30PM (EDT)
Event Details

**Please join us in Washington, DC**

It’s hard to detect a financial bubble when you’re in the middle of it—especially when accompanied by the type of economic euphoria we saw during the U.S. housing boom of the mid 2000s. 

Today, with the benefit of a decade of hindsight, there are many lessons to be learned. In order for policy makers to avoid repeating the same mistakes, we must first understand what went wrong at the time—and how the “fixes” have fared in the 10 years since. 

This one-day event will emphasize the political and global dimensions of the 2008 financial crisis, specifically exploring such questions as: How did a new Congress—and a new president—respond in the aftermath? How does the 2008 financial crisis compare to other crises in U.S. history? And, perhaps most crucial, how well-prepared are we today to handle inevitable future crises?

*Hosted by the Miller Center, the University of Virginia Darden School of Business, the UVA Law School, and the Brookings Institution’s Governance Studies Program.

This gathering is part of our "Road to the Presidential Ideas Festival 2019"—a series of events leading up to the Presidential Ideas Festival 2019: Democracy in Dialogue to be held in Charlottesville, Virginia, from May 21–23, 2019. "PrezFest 2019," as we call it, will be a bipartisan summit of former White House officials, elected leaders, presidential scholars, business and media leaders, and other experts. Our goal is to rejuvenate the civil dialogue critical for a functional constitutional democracy, focusing on the challenges affecting the executive office by examining the legacies of past presidencies. Please join us! prezfest.org

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When
Thursday, September 13, 2018
10:00AM - 3:30PM (EDT)
Add to Calendar 2018-09-13 10:00:00 2018-09-13 15:30:00 Ten years later: Lessons from the 2008 financial crisis **Please join us in Washington, DC** It’s hard to detect a financial bubble when you’re in the middle of it—especially when accompanied by the type of economic euphoria we saw during the U.S. housing boom of the mid 2000s.  Today, with the benefit of a decade of hindsight, there are many lessons to be learned. In order for policy makers to avoid repeating the same mistakes, we must first understand what went wrong at the time—and how the “fixes” have fared in the 10 years since.  This one-day event will emphasize the political and global dimensions of the 2008 financial crisis, specifically exploring such questions as: How did a new Congress—and a new president—respond in the aftermath? How does the 2008 financial crisis compare to other crises in U.S. history? And, perhaps most crucial, how well-prepared are we today to handle inevitable future crises? *Hosted by the Miller Center, the University of Virginia Darden School of Business, the UVA Law School, and the Brookings Institution’s Governance Studies Program. This gathering is part of our "Road to the Presidential Ideas Festival 2019"—a series of events leading up to the Presidential Ideas Festival 2019: Democracy in Dialogue to be held in Charlottesville, Virginia, from May 21–23, 2019. "PrezFest 2019," as we call it, will be a bipartisan summit of former White House officials, elected leaders, presidential scholars, business and media leaders, and other experts. Our goal is to rejuvenate the civil dialogue critical for a functional constitutional democracy, focusing on the challenges affecting the executive office by examining the legacies of past presidencies. Please join us! prezfest.org Carnegie Endowment for International Peace 1779 Massachusetts Avenue NW Washington, DC 20036-2103 Miller Center millercenter@virginia.edu America/New_York public
Where
Carnegie Endowment for International Peace
1779 Massachusetts Avenue NW
Washington, DC 20036-2103
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Speakers
William Antholis, Director and CEO of the Miller Center

William Antholis

Currently director and CEO of the Miller Center, Antholis was managing director at the Brookings Institution from 2004 to 2014. He has also served in government, including at the White House’s National Security Council and National Economic Council, and at the State Department’s policy planning staff and bureau of economic affairs. He has published two books, as well as dozens of articles, book chapters, and opinion pieces on U.S. politics, U.S. foreign policy, international organizations, the G8, climate change, and trade. He earned his Ph.D. from Yale University in politics (1993) and his B.A. from the University of Virginia in government and foreign affairs (1986).

Sarah Binder

Sarah Binder

Binder is a professor of political science at George Washington University and a senior fellow in governance studies at the Brookings Institution. She studies Congress, both its historical development and contemporary politics. Binder's new book with Mark Spindel, The Myth of Independence, explores Congress's relationship with the Federal Reserve (today and over the Fed's first century). She is also an editor of and occasional contributor to The Monkey Cage, a political science blog at The Washington Post. You can find her posts here.

Robert Bruner

Robert Bruner

A Miller Center senior fellow, Bruner is University Professor at the University of Virginia, Distinguished Professor of Business Administration, and dean emeritus of the Darden School of Business. He has also held visiting appointments at Columbia University, INSEAD in France, and IESE in Spain. Bruner is the author, co-author, or editor of more than 20 books on finance, management, and teaching. A faculty member since 1982 and winner of awards at the University of Virginia and within the Commonwealth of Virginia, he teaches and conducts research in finance and management.

Jeffry Frieden

Jeffry Frieden

Frieden is Professor of Government at Harvard University. He specializes in the politics of international monetary and financial relations. Frieden is the author of Currency Politics: The Political Economy of Exchange Rate Policy (2015); and (with Menzie Chinn) of Lost Decades: The Making of America's Debt Crisis and the Long Recovery (2011). Frieden is also the author of Global Capitalism: Its Fall and Rise in the Twentieth Century (2006), of Banking on the World: The Politics of American International Finance (1987), and of Debt, Development, and Democracy: Modern Political Economy and Latin America, 1965‑1985 (1991). 

Gary Gorton

Gary Gorton

Gorton is the Frederick Frank Class of 1954 Professor of Management and Finance at the Yale School of Management. He was the Robert Morris Professor of Banking and Finance at the Wharton School of the University of Pennsylvania, where he taught since the fall of 1983. He was also professor of economics in the College of Arts and Sciences at the University of Pennsylvania, and a research associate of the National Bureau of Economic Research. He is a former member of the Moody's Investors Services Academic Advisory Panel. 

Graciela Kaminsky

Graciela Kaminsky

Kaminsky is professor of economics and international affairs at George Washington University and Research Associate at the National Bureau of Economic Research. She previously held positions as assistant professor at the University of California, San Diego, and staff economist at the Board of Governors of the Federal Reserve System. She has been a visiting scholar at numerous government organizations, including the Bank of Japan, the Bank of Spain, the Federal Reserve Bank of New York, the Hong Kong Monetary, and the Monetary Authority of Singapore. 

David Leblang

David Leblang

Leblang is professor of politics at the University of Virginia and is a faculty associate at the Miller Center where he is the J. Wilson Newman Professor of Governance. He is also a professor of public policy at the University's Batten School for Leadership and Public Policy, where he is director of the Global Policy Center. Since 2010 he has served as chair of the Department of Politics.  

Frances Lee

Frances Lee

Lee has been a member of the University of Maryland faculty since 2004. She teaches courses in American government, the public policy process, legislative politics, political ambition, and political institutions. Her research interests focus on American governing institutions, especially the U.S. Congress. She is co-editor of Legislative Studies Quarterly, a scholarly journal specializing in legislatures. She is author of  Insecure Majorities: Congress and the Perpetual Campaign (University of Chicago Press, 2016) and Beyond Ideology: Politics, Principles and Partisanship in the U.S. Senate (University of Chicago Press, 2009). 

Julia Mahoney, UVA Law School

Julia Mahoney

Mahoney teaches courses in property, government finance, constitutional law, and nonprofit organizations at the University of Virginia School of Law. A graduate of Yale Law School, she joined the University of Virginia faculty as an associate professor in 1999 and is now John S. Battle Professor of Law. She has also taught at the University of Southern California Law School and the University of Chicago Law School, and before entering the legal academy, practiced law at the New York firm Wachtell, Lipton, Rosen & Katz. Her scholarly articles include works on land preservation, eminent domain, health care reform, and property rights in human biological materials.

Daniel Meyer

Daniel Meyer

During the last two years of the George W. Bush administration, Meyer served in the White House as an Assistant and Deputy Assistant to the President for Legislative Affairs. In his book, Decision Points, President Bush described Meyer as his “cool-headed legislative affairs chief.” He is currently president of the Duberstein Group, an independent, strategic planning and advisory company located in Washington, DC. He has been with the Duberstein Group for 16 of the last 18 years.

Carmen Reinhart

Carmen Reinhart

Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously, she was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Professor of Economics and Director of the Center for International Economics at the University of Maryland. Professor Reinhart held positions as chief economist and vice president at the investment bank Bear Stearns in the 1980s.  She spent several years at the International Monetary Fund and as a member of the Congressional Budget Office Panel of Economic Advisers. She serves in the Economic Advisory Panel of the Federal Reserve Bank of New York.

Hal Scott

Hal Scott

Scott is the Emeritus Nomura Professor of International Financial Systems at Harvard Law School, where he taught from 1975 to 2018. His HLS courses were on capital markets regulation, international finance, the payment system, and securities regulation. He is currently an adjunct professor of public policy at the Harvard Kennedy School of Government where he teaches capital market regulation. He will also be teaching international finance at the Boston University Law School in spring 2019.

Linda Tesar

Linda Tesar

Tesar is a professor of economics in the Department of Economics at the University of Michigan. She received her Ph.D. from the University of Rochester in 1990 and spent seven years on the faculty at the University of California in Santa Barbara. She joined the faculty at Michigan in 1997. She served as department chair from 2007 to 2011.