‘Beyond the Mortgage Meltdown’ - New Report Analyzes Dodd/Frank Plan and Calls for Additional Steps to Address the Housing Market Crisis
Moody’s Economist Mark Zandi and Home Loan Bank President Alfred
DelliBovi Join Report Author James Lardner at 6/25/08 National Press Club
Event; *Teleconference Included
WASHINGTON, June 24 /PRNewswire-USNewswire/ — The following is being
issued by Demos: A Network for Ideas & Action:
WHERE:
National Press Club
14th Floor, Lisagor Room
529 14th Street, NW
Washington, DC
*TELECONFERENCE PARTICIPANTS:
Dial in number: (888) 491-8283
Conference ID: 53531509
WHEN:
Wednesday, June 25, 2008; 1-2pm EDT
WHAT:
Press conference to announce the findings of new report, “Beyond the
Mortgage Meltdown: Addressing the Current Crisis, Avoiding a Future
Catastrophe” issued by Demos, a non-partisan public policy center.
Also included: analysis of soon-to-be-approved rescue bill sponsored by
Senator Christopher Dodd, Senator Richard Shelby and Representative Barney
Frank.
BACKGROUND:
A year into the story of the subprime mortgage meltdown, Congress is
poised to act. Breaking a long deadlock, House and Senate leaders have
united behind a version of the Dodd/Frank plan, which could help upwards of
500,000 families hold onto their homes.
With bipartisan support, the measure is expected to pass both houses of
Congress before the end of June and reach the President’s desk in early
July.
In a wide-ranging new report, “Beyond the Mortgage Meltdown,” Demos:
— Analyzes the strengths and weaknesses of the Dodd/Frank plan
— Assesses the magnitude and continuing peril of the housing market crisis
— Explores the hidden history of the housing market bubble
— Documents the enabling role of federal agencies and officials in the
subprime boom-and-bust
— Makes the case for additional steps to contain the foreclosure epidemic
and aid beleaguered states and localities
— Calls for new rules and new oversight machinery for the mortgage market
PANELISTS:
JAMES LARDNER is a senior fellow at Demos and author of the “Beyond the
Mortgage Meltdown” report. Mr. Lardner is also one of the co-authors of the
newly published book, “Up to Our Eyeballs: How Shady Lenders and Failed
Economic Policies are Drowning Americans in Debt.”
DR. MARK M. ZANDI is Chief Economist and Co-Founder of Moody’s
Economy.com, where he directs the company’s research and consulting
activities. Moody’s Economy.com is an independent subsidiary of the Moody’s
Corporation providing research and consulting services to businesses,
governments and other institutions.
Dr. Zandi has appeared on ABC News, Wall Street Week, CNN and CNBC. He
received his Ph.D. from the University of Pennsylvania and his B.S. from
the Wharton School at the University of Pennsylvania.
ALFRED A. DELLIBOVI is President of the Federal Home Loan Bank of New
York, where he serves as CEO of a $100 billion wholesale bank serving
thrifts, savings banks, commercial banks and credit unions. Mr. DelliBovi
directs the Bank’s overall operations to facilitate the extension of credit
products and services to 300 neighborhood-based lenders in New Jersey, New
York, Puerto Rico, and the U.S. Virgin Islands.
Mr. DelliBovi served in the administration of George H.W. Bush as
Deputy Secretary of the U.S. Department of Housing and Urban Development.
He has earned national recognition as an authority on banking, the lending
industry, housing, and public finance.
OPENING REMARKS and INTRODUCTIONS:
MILES S. RAPOPORT is the President of Demos and a former Secretary of
the State of Connecticut, where he was also a state legislator for over a
decade.
RSVP/NOTE TO MEDIA:
If you plan to attend in person or by teleconference, please RSVP to
Tim Rusch, Demos, at trusch@demos.org or by calling (212) 389-1407. On the
day of the event, hard copies of “Beyond the Mortgage Meltdown” and free
copies of “Up to Our Eyeballs: How Shady Lenders and Failed Economic
Policies Are Drowning Americans In Debt” (uptooureyeballs.com) will be
available at the press conference. Also, pdf copies of the study will be
available for download at Demos.org along with a full press release. If you
would like to schedule an interview with an author or panelist after the
press conference, please contact Tim Rusch at number below. Legislative and
policy-related questions may also be directed to Caleb Gibson in Demos’
Washington DC office: cgibson@demos.org or (202) 587-1630.
Refreshments will be available during the press conference.
CONTACT: Tim Rusch of Demos, +1-212-389-1407, trusch@demos.org
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[Via Real Estate Newswire]