The Next Chapter
With the five-year anniversary of the height of the financial crisis coming this week, there will be the obligatory looking back at the events of September 2008 and assessing whether we have made the necessary changes to our financial system since a handful of financial institutions deemed to be too large and too interconnected to fail brought the global economy to its knees.
For me, the financial crisis changed my life. I gave up a job I loved as a federal prosecutor in order to take one that I would come to love almost as much as the special inspector general charged with providing oversight of the bank bailout. And after I stepped down, I was lucky enough to be able to spend the next couple of years teaching at NYU School of Law and write Bailout, an account of my time in Washington.
I now start the next chapter of my professional life, joining the law firm as a partner in their White Collar, Securities Litigation and Government Controversies practice groups. Going to Jenner was a pretty easy decision for me. It is a firm that exemplifies the very best of what it means to practice law, and it has demonstrated a willingness to stand up to the most powerful and most difficult adversaries. This trait was perhaps best exemplified by the bright light it shined into some of the darkest areas of Wall Street via its role as examiner in the Lehman bankruptcy. The New York Times has an article up about my move, and it's description of Jenner's history is a pretty good explanation of why I'm joining the firm. At Jenner, I'll be focusing a number of different areas as I build my practice, but above all I want to continue in the firm's fine tradition of courageous representation of its clients.
And while my primary focus will be on representing our clients, I also plan to continue to be a voice for regulatory reform. To that end, I will be talking about the crisis at an event sponsored by Better Markets and GW on Thursday in DC featuring a keynote address by Senator Elizabeth Warren. Come by if you have a chance.
Update: Here is a copy of the press release.
Photo: Mark Wilson/Getty Images News
BUSINESS at Abari Shopping Complex Opp. Ibro Hotel Wuse Zone 5, Abuja Nigeria.
10 年God bless you;
Principal at Abacus Road?
11 年WALL STREET’S “Silent Spring” CASTRO CALLS FOR A NEW BRETTON WOODS CONVENTION ECONOMICS-AT-A-GLANCE: Abacus Road? is the World’s Economic Engine/ mathematical formula that acts as SUPPLY in setting PRICE in world markets. It is obvious that the predictability of food, clothing, shelter, energy, and investment ‘Price Bubbles’ under the formula has led to the manipulation and skimming of world markets for the last 100+ years; all to benefit a cabal of families at the pinnacle of world wealth. THE MOST IMPORTANT FINANCIAL CONCEPT ON THE PLANET: Abacus Road? drives global investments & commerce; therefore, politics. Using Abacus Road? one can visualize REAL-TIME Supply vs. Demand in LIVE Economic and Investment Charts of: Stocks, Currency & Commodity Futures, Derivatives, Real Estate, Indices, Exchanges, Entire Markets. Anticipating Price movement becomes completely predictable under the Abacus Road? sine/cosine relationship, as one the wave precedes the next - Price current to Price future.
Risk Management is a Healing Art! Co-Founder of Ackerman, Grooms, Mark (AGM), [email protected], Founder / Chair / CEO, Decide and Company / [email protected]
11 年Congratulations & Good Luck!
Co-Founder, Deltrium, LLC. Gummies for Grown-Ups
11 年And so here we are... five years later. Older, but almost certainly no wiser. And as to our willingness to tackle tough problems and engage in difficult conversations... well, quoth the craven, nevermore. We have lost the ability to govern ourselves, watched as it slipped away ever since that slow motion train crash we called the "S&L crisis" back before we knew what actual crisis felt like. Today, we slither about, quantitatively easing from stimuli to stimuli... anything is fine with us as long as congress need not vote on TV. It's been five years and we're still pretending on television as earnings are announced each quarter that we didn't suspend the accounting rules that would render the numbers as fictitious as were they created by Tolkien. And we pretend that housing markets have recovered even though we all see that 50 percent of sales are financed by investor cash, only 20 percent are confirming loans and the remaining being dumped into the sewer were call FHA. We all agree to forget whatever numbers we saw a month before, pretend that we're not 80% of the IMF, and live in country where we expect our government to lie about anything at anytime... a place where the only reason for not doing the crime is an inabity to pay the fine. We know but one sub-prime trick and we stand ready to blow bubble after bubble. We're running in place while telling ourselves we're going places and I firmly believe that were Canada geographically where Mexico is now... more that have of us would have already moved, verdad?