As the attention in Washington, D.C. is on a Treasury Department proposal for a $700 billion bailout of major lenders, West LegalEdcenter and West Legalworks are providing some free resources for anyone involved in the mortgage and asset-related securities market to learn more about the bailout proposal.
First, a free white paper titled “The Impact of Securitization on the Legislative Proposal for Treasury Authority to Purchase Mortgage-Related Assets” was just written by Talcott J. Franklin.
He is the co-author of the Mortgage and Asset Backed Securities Litigation Handbook from West, and is a partner and head of litigation in the Dallas office of Patton Boggs LLP.
“Everyone has questions and anger with respect to who caused this mess and why no one acted sooner,” Franklin writes.
“But the fact is, we have to act quickly to reduce the impact of this crisis. When Americans act together, we can overcome every challenge, and we will overcome this one. But if we fall into partisan bickering and the laying of blame, if we are motivated solely by self-interest and not the overall good, if we act rashly and without careful thought, the crisis will grow, as will the sacrifice required to remedy it.”
Franklin adds, “This paper takes no position on whether the Treasury Proposal should be adopted, only that it can be improved. Many excellent points have been raised during the course of the hearings on the Treasury Proposal. This paper points out some additional issues for consideration.”
In addition to the free white paper, a free live webcast titled “Bailout or Washout: An Analysis of the Treasury Proposal to Purchase Mortgage-Related Assets,” will take place Monday, Sept. 29, from 1 p.m. to 2 p.m. Eastern.
The webcast will address a number of questions, including:
- What would the Treasury own if it bought mortgage-backed securities?
- How will the oversight mechanism of Treasury’s investments operate?
- What are the benefits of the proposal? The risks?
- What will determine the success or failure of this plan?
- How will the taxpayers be compensated for their investment?
The webcast will feature Franklin, the Hon. Chris Bell – a former member of Congress and member of the House Financial Services Committee – and Thomas F. Nealon, Franklin’s co-author of the Mortgage and Asset Backed Securities Litigation Handbook. Nealson is general counsel at LNR Partners, Inc.
Again, you can download the free white paper here and register for the free webcast here.
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