MBA Corps Distinguished Speaker
Series
REGISTER
Here (Registration
Required)
NYU
School of Continuing and Professional Studies, StamSteer and MBA
Corps
are proud to present a panel
discussion:
FORGOTTEN
FINANCE 101:
Using yesterday’s lessons to survive the
Credit
Crunch and thrive in tomorrow’s markets
When: Tuesday, April 27, 2010
6 to 6:30 pm: Reception and Networking
6:30 to 8 pm: Remarks and Q&A
Where: 200
Park Avenue, 13th Floor
(Met
Life
Building)
PHOTO
Identification Required
Cost: NYU Alumni, StamSteer and
MBA
Corps members: $20
Non-members:
$25
Students:
$10
Community
Partners: $5
MODERATOR: Liz Claman, Anchor, FOX Business Network
PANELISTS:
Jim Chanos: Kynikos Associates, Hedge Fund founder. Famously
successful
short seller who spotted Enron.
Diane Garnick: Investment
strategist for Invesco, where she directs the firm’s
Global
Investment Solutions and Research team. Previously, she
was a
global derivatives strategist at Merrill
Lynch.
Margaret M. Cannella: Named to the Fixed Income analyst
Hall of
Fame in 2007 for her publications on the credit crisis
while at
JP Morgan, where she built U.S. Equity and Global Credit
Research; both currently rank number one in the Institutional
Investor Survey. Currently, Adjunct
Professor at Columbia
Business
School.
Ed Grebeck: Chief Executive Officer, Tempus Advisors. NYU Professor, including Credit Derivatives Trading Products (CDS 101)
Today,
Congressional hearings into
credit
crunch causes and solutions continue their
drift.
Vested interests repeatedly parrot “now we know what
went
wrong, give us a do over”. Regulators blame products and practices [credit default
swaps,
short
selling, etc] and/or cheerlead
specific remedies to “bring the debt market back” to
2006,
when ABS issue volumes reached record levels. Seemingly,
we are no closer to ensuring $3
trillion + losses never happen, again.
After
bailouts since 2008, the
U.S.
government is now lender
– shareholder – guarantor – regulator and legislator;
simply and simultaneously: player, coach, team owner,
league
commissioner and referee -- in “banking’s new normal”.
Almost as an afterthought,
U.S.
monetary base exploded an unprecedented
120+ percent since 2008 portending dollar
instability,
inflation and market volatility going forward.
Join
us as our panel of early
Structured
Finance critics discuss Finance 101 – and how its
lessons help us survive and thrive in “banking’s new
normal”.
Somehow
fundamental, elementary, Finance
101 lessons vanished from memories – of
bankers, auditors, rating agencies, regulators,
institutional
investors and academics – in the lead up to the credit
crunch.
Inexplicably, many mistook Structured Finance equity
risk
for near riskless debt. Others considered all “AAA”
borrowers the same and were bamboozled by Form over
Substance.
Too many neglected foundational underwriting in favor of
buying
“on ratings”.
