A free webcast offered by West LegalEdcenter and West Legalworks regarding the Treasury Department’s proposal to buy assets of troubled financial institutions is now available on-demand on the West LegalEdcenter web site.
Participants in the discussion included:
- Chris Bell – Former U. S. Congressman (D-TX), of Counsel, Patton Boggs LLP, Dallas
- Talcott J. Franklin – Partner, Patton Boggs LLP, Dallas, TX; Co-Author, Mortgage and Asset Backed Securities Litigation, published by West
- Micah Green – Public Policy Partner, Patton Boggs LLP; former President and CEO, Bond Market Association
- Thomas F. Nealon, III – Group General Counsel, Real Estate Finance & Servicing Group, LNR Partners, Inc., Miami Beach; Co-Author, Mortgage and Asset Backed Securities Litigation, published by West
- Kevin Wodicka – Director of Investment Management, LNR Property Corporation
The webcast was recorded Monday while the vote on the bailout was taking place in the U.S. House. The proposal was defeated 225 to 208.
In the webcast, the group discusses why the Treasury Department proposal was met with skepticism from Congress and the American public. Critics said it represented a bailout of Wall Street, according to Green, not something “that would affect main street.”
Bell said, with anything, Americans wonder “what’s in it for them.”
The webcast participants analyze the impact of the political pressures, the proposed benefits of government ownership of the assets in the plan and the risks.
The webcast is available to listen to, for free, on the West LegalEdcenter Web site.
With registration, a free white paper also is available about the Treasury Department proposal, written and revised recently by Franklin.