Podcasts about troubled asset relief program tarp

Kim Flynn, President of XA Investments, discusses her 25-year career in asset management, focusing on alternative investments. She highlights the challenges faced during the 2008 financial crisis at Nuveen Investments, where she refinanced $15 billion in frozen auction rate securities. Flynn explains the structure and benefits of closed-end funds, particularly interval funds, which offer periodic liquidity. She details XA Investments' three SEC-registered closed-end funds with $900 million in assets, emphasizing private credit strategies with yields ranging from 9% to 15%. Flynn also explores the potential of alternative investments like farmland, infrastructure, and crypto, noting their role in portfolio diversification and income generation. Note: this episode contains general information only and is not financial or investment advice. Please let Gene know your thoughts on this episode by emailing him at contact@economicsexplored.com.About Kimberly Ann FlynnKimberly Ann Flynn is a President at XA Investments. She is a partner in the firm and responsible for all product and business development activities. Kim is responsible for the firm's proprietary fund platform and consulting practice. Kim has developed an expertise in closed-end fund product development and is a frequent contributor to media and industry events on topics including interval funds, alternative investments and London-listed investment companies. Kim has earned the CFA designation and is a member of the CFA Institute and CFA Society Chicago. She is also Series 7, 63 and 24 licensed.Previously, Kim was Senior Vice President and Head of Product Development for Nuveen Investments' Global Structured Products Group. In her 11 years at Nuveen, she helped develop over 40 closed-end funds, raising approximately $13 billion in capital. In her leadership role at Nuveen, Kim was responsible for asset-raising activities through the development of new, traditional and alternative investment funds, including CEFs, ETFs, UITs and commodity pools.Kim received her MBA degree from Harvard University, where she was a William J. Carey scholar and President of the HBS Volunteers. Before attending Harvard Business School, Kim spent three years working in Morgan Stanley's Investment Banking Division (1999-2002) in their Chicago office. She earned her BBA in Finance and Business Economics, summa cum laude, from the University of Notre Dame in 1999 where she was a valedictorian candidate, Rhodes Scholar finalist and the first recipient of the Paul F. Conway Award, given to a senior in the Department of Finance who embodies Notre Dame's tradition of excellence and who enriches the ideals of the university.Kim was recently selected to serve on the Notre Dame Wall Street leadership committee. She also serves on the board of the Women in ETFs Chicago chapter as Head of the Mentorship Committee and on the advisory board of Youth Guidance's Becoming A Man program. She is an active member of the University Club of Chicago and the Harvard Club of New York City, where she conducts regular business. Kim and her family - husband, Leo; son, Teddy; and daughter, Rose - live in Lincoln Park.TimestampsIntroduction (0:00)Kim Flynn's Career Journey (3:09)Experience During the 2008 Financial Crisis (4:41)Development of New Financial Products Post-Crisis (7:17)Understanding Closed-End Funds and Interval Funds (8:48)Investment Strategies and Alternative Assets (21:01)Energy Investments and ESG Considerations (29:02)Gold, Crypto, and the Role of FinTech (31:36)Evaluating Asset Managers and Investment Strategies (35:03)Investment Outlook and Market Dynamics (47:07)TakeawaysAlternative Investments Offer Diversification: Kim Flynn explains that alternative investments, including real estate, private credit, and farmland, provide diversification benefits, reducing reliance on traditional stocks and bonds.Liquidity Management is Crucial: Interval funds allow limited liquidity for investors, making them suitable for illiquid asset classes like private equity and real estate.Lessons from the 2008 Crisis: Kim shares her experience during the financial crisis, where she managed funds impacted by frozen liquidity, highlighting the importance of flexibility and innovation.Private Credit and Farmland Are Popular: Kim notes that private credit and farmland investments have seen significant interest due to their yield potential and inflation protection.Understanding Liquidity Premiums: Kim emphasizes that investors should seek a 300-400 basis point premium for illiquid investments compared to equivalent public market assets.Links relevant to the conversationKim's bio on the XA Investments website:https://xainvestments.com/team/US Treasury webpage on the Troubled Asset Relief Program (TARP):https://home.treasury.gov/data/troubled-asset-relief-programLumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.

Timothy Massad is currently a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at Kennedy School of Government at Harvard University, an Adjunct Professor of Law at Georgetown Law School and a consultant on financial regulatory and fintech issues. Massad served as Chairman of the U.S. Commodity Futures Trading Commission from 2014-2017. Under his leadership, the agency implemented the Dodd Frank reforms of the over-the-counter swaps market and harmonized many aspects of cross-border regulation, including reaching a landmark agreement with the European Union on clearinghouse oversight. The agency also declared virtual currencies to be commodities, introduced reforms to address automated trading and strengthened cybersecurity protections. Previously, Mr. Massad served as the Assistant Secretary for Financial Stability of the U.S. Department of the Treasury. In that capacity, he oversaw the Troubled Asset Relief Program (TARP), the principal U.S. governmental response to the 2008 financial crisis. Massad was a partner in the law firm of Cravath, Swaine & Moore, LLP. His practice included corporate finance, derivatives and advising boards of directors. Massad was also one of a small group of lawyers who drafted the original ISDA standard agreements for swaps.Howell Jackson is the James S. Reid, Jr., Professor of Law at Harvard Law School. His research interests include financial regulation, consumer financial protection, securities regulation, and federal budget policy. He has served as a consultant to the United States Treasury Department, the United Nations Development Program, the World Bank, and the International Monetary Fund. He frequently consults with government agencies and congressional committees on issues related to financial regulation. From 2023 to 2024, he was a Senior Adviser to the National Economic Council.   Since 2005, Professor Jackson has been a trustee of College Retirement Equities Fund (CREF).  He has also served as a director of Commonwealth, a non-profit dedicated to strengthening financial opportunities for low and moderate-income consumers. At Harvard University, Professor Jackson has served as Senior Adviser to the President and Acting Dean of Harvard Law School. Before joining the Harvard Law School faculty in 1989, Professor Jackson was a law clerk for Associate Justice Thurgood Marshall and practiced law in Washington, D.C. Professor Jackson received his J.D. and M.B.A. degrees from Harvard University in 1982 and a B.A. from Brown University in 1976.Ralph Ranalli of the HKS Office of Communications and Public Affairs is the host, producer, and editor of HKS PolicyCast. A former journalist, public television producer, and entrepreneur, he holds an BA in political science from UCLA and a master's in journalism from Columbia University.Scheduling and logistical support for PolicyCast is provided by Lilian Wainaina.Design and graphics support is provided by Laura King. Web design and social media promotion support is provided by Catherine Santrock and Natalie Montaner. Editorial support is provided by Nora Delaney and Robert O'Neill .  

John Knepper thought he would pursue a career in theater after graduating and performing at the Harvard Radcliffe summer theater. However, after  moving to Memphis, Tennessee, he took a left turn and started working in the marketing department of the nation's fifth largest security guard company. After nine months there, John quit his job and traveled around the country for six months. Working in Washington on Immigration Laws On the last leg of his travels, he was in Washington where, by chance, he met the assistant to the Chief of Staff for Senator Al Simpson of Wyoming. Six months later they called him for an interview and subsequently he started working on Capitol Hill. He talks about his work as a personal assistant for a senator before moving on to work for the Senate Judiciary Committee.  In 1995 and 1996, he worked on the 1996 immigration law, which was the last major piece of immigration legislation passed by Congress. John also worked for Senator Fred Thompson of Tennessee on the Governmental Affairs Committee and Homeland Security Committee for two years, where he worked on investigations into foreign influence in the 1996 Presidential election. John worked on campaign fundraising and regulatory reform, becoming one of the most knowledgeable staffers for the Senate Judiciary Committee without a law degree. From Washington to Law School In 1998, he decided to change careers and went to law school. He attended the University of Michigan School of Law, which was considered the best law school at the time. Upon graduating from law school in 2001, he worked for a federal judge for a year and later held a position with the US Department of Justice in the Federal Programs Branch. He was part of the team that defended the McCain Feingold campaign finance law, and John talks about  how the law faced constitutional challenges and the mistrust among the Republican and Democratic National Committees. John discusses his role in document review at the Republican and Democratic National Committees, and his decision to build an effective record of campaign finance regulations. He also talks about working on national security issues for President Bush, such as the freezing of assets of the Iraqi government and the question of how to give Iraq billions of dollars back to the government. Working as the Associate General Counsel of the OMB John was called to work as the Associate General Counsel of the Office of Management and Budget (OMB) in 2004. OMB is an agency within the White House responsible for ensuring that federal government actions are consistent with the President's priorities. Originating under President Franklin Delano Roosevelt, OMB is responsible for reviewing all testimony, legislation, and major regulations issued by the executive branch to Congress.  He talks about working under President Bush and eventually becoming the deputy general counsel of the Office of Management and Budget. The office was responsible for supporting the President's views and clearing executive orders. The general counsel's office was also responsible for reaching out to other federal agencies to discuss concerns and ensure they understood the consequences of their actions. Fannie Mae,  Freddie Mac, and Financial Bailouts In summer 2008, a friend of John's, who had been in the White House Counsel's office, called him to discuss the economic concerns with Fannie Mae and Freddie Mac. John moved over to become the Deputy General Counsel of the Treasury. The conversation turns to the bailout of Fannie Mae and Freddie Mac, the potential bankruptcy of AIG, and the impact of money market funds on the economy. He talks about the Troubled Asset Relief Program (TARP) which was developed to provide an asset against which companies could borrow from the Federal Reserve. This allowed the government to keep the velocity of money in the system, and AIG was a prime example of how the US government managed to keep these businesses operating. He also discusses an unsung moment during the financial bailout and the collaboration between Merrill Lynch and Wachtell Lipton, Rosen and Katz, and one reason for the bailout. From Washington to Wyoming In 2009, John was unemployed due to elections having consequences. He moved to Wyoming, where the economy was buffered by long-term commodities contracts, and he started working for the city of Cheyenne Wyoming as an attorney, working on $50 million government programs. John talks about Wyoming's unique tax system, with no state income tax, so revenue is largely mineral taxation. He worked with people in Wyoming suing companies over tax burdens. John worked there for two years before falling into another position as the Attorney General of Wyoming. He was appointed as the Chief Deputy Attorney General of Wyoming, and for five years, from 2013 to 2019, he was the number two lawyer for the state where he worked on environmental, law enforcement, and gun rights issues. Establishing a Solo Practice  From March 2019 onwards, John moved on to solo private practice in Wyoming. He chose this path because he wanted to take on more controversial litigation and avoid moving their family to a different location. He discusses his experience as a political appointee of George W. Bush and involvement in pro life cases, including pre and post Dobbs litigation on pro life issues. John has also been involved in controversial cases, such as defending coverage of gender transition services and determining equal protection. Large law firms often avoid this area due to financial constraints. His practice is paid law, with clients ranging from wills for small to large corporations, and he works on multi-district litigation. Influential Professors and Courses at Harvard John mentions a class on the Holocaust and genocide by Professor Eric Goldhagen, which he found to be incredibly profound. This course changed his interest in understanding the reasons behind people's resistance to horrible decisions, such as murder and atrocities. He also took courses on resistance to authority from social psychologist Herb Kelman and his senior thesis on the concept of the witch at the Salem witch trials. He mentions Professor Orlando Patterson of the Sociology department at Harvard had a class on freedom, focusing on the origins of the western and American concepts of freedom and liberty. Timestamps: 05:00: Career path from Congressional staffer to lawyer 11:26: Defending campaign finance law in court 16:17: Legal questions related to Iraq invasion and asset recovery 21:47: White House roles and responsibilities 27:54: Government bailouts during the 2008 financial crisis 34:28: Financial crisis, bailouts, and government intervention 40:18: Tax compliance, job loss, and career changes 46:12: Legal work in Wyoming, including coal mining and environmental issues 51:40: Legal cases related to gender identity and health insurance coverage 55:24: Personal growth, career paths, and Holocaust education 59:57: The concept of freedom, heroism, and redemption 1:05:36: Life decisions, fountain pen hobby, and connecting with others Links:  Email:  john.knepper@gmail.com  Featured Non-profits The featured non-profits of this episode are the 52nd Street Project and Village Arts Theater, recommended by  Jeannie Simpson who reports: This is Jeannie Simpson, class of 1992 and the featured nonprofits for this episode are the 52nd Street Project and Village Arts Theater. The 52nd street project is in New York City, and my husband and I both volunteered there for about 10 years. It takes kids from Hell's Kitchen community and pairs them with theater professionals to write and perform original plays. It also offers homework help and mentor programs and all kinds of arts classes. It's free for the children who want to participate, and it's just a really awesome example of the transformative power of storytelling through theater. The second nonprofit I want to recommend is in Los Angeles, California, and it's called Village Arts Theater. It is a nonprofit that provides all kinds of arts classes and opportunities for kids from the community, ages four to 14 to participate in plays and in classes. It's an inclusive program, and no child is turned away because of financial need. And I have taught, volunteered, directed, choreographed for village arts for a decade. I still work with them, and both my children were raised in this theater program, and I have seen countless children benefit from all the amazing things that it has to offer. 52nd Street Project website is the numbers five, two and then the word project.org, and village arts website is one word, village arts theater with an R E at the end.org, 52 project.org, and villageartstheatre.org. And org, and they are both worth checking out and worthy of your time, your money, your talents, resources, whatever you might have to offer. And now here is Will Bachmann with this week's episode.  To learn more about their work visit:  52 project.org and villageartstheatre.org.

Chapter 1:Summary of Too Big To Fail Book"Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—And Themselves" is a non-fiction book by Andrew Ross Sorkin, first published in 2009. It provides an in-depth, behind-the-scenes account of the 2008 financial crisis, particularly focusing on the events that led to the collapse of major financial institutions and the subsequent government interventions.The book's title, "Too Big to Fail," refers to a business theory that certain corporations, particularly financial institutions, are so large and interconnected that their failure would be disastrous to the greater economic system. Therefore, they must be supported by the government when they face potential failure.Andrew Ross Sorkin, a financial journalist, uses his extensive access to key players in politics, finance, and academia to weave together a detailed and dramatic narrative. He takes the reader into the meeting rooms, boardrooms, and offices where decisions were made, capturing the tense atmosphere and the complex interplay of personalities and interests.Key figures in the book include U.S. Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke, and various high-level executives from Wall Street's top firms, such as Lehman Brothers, Merrill Lynch, and Goldman Sachs. The book details the struggle to save Lehman Brothers, the controversial bailout of AIG, and the consolidation and rearrangement of major financial institutions during the crisis."Too Big to Fail" also touches upon the roles of key regulatory frameworks, the flawed decisions by executives that led to risky financial practices, and the chain reaction set off by falling real estate prices and the implosion of the subprime mortgage market.Overall, the book provides a comprehensive overview of the mechanisms of the crisis, offering insights into the challenges and decisions faced by leaders, and illustrating the grave impacts on the global economy when major financial systems falter. "Too Big to Fail" is considered a definitive work on the 2008 financial crisis, appreciated for bringing clarity to a complex series of events that affected millions globally.Chapter 2:the theme of Too Big To Fail Book"Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves" by Andrew Ross Sorkin is a non-fiction book that documents the events that led up to the financial crisis in 2008. It offers a detailed account of the crisis from the perspectives of the Wall Street and Washington players involved. Below, I'll outline some key plot points, character development, and thematic ideas presented in the book.### Key Plot Points1. **Lehman Brothers' Collapse**: One of the central events in the book is the downfall of Lehman Brothers, whose bankruptcy filing marked one of the largest in U.S. history and a pivotal moment in the financial crisis. The narrative explores the frantic efforts to find a buyer for Lehman and the decision not to bail it out.2. **Bailout Negotiations**: The book goes into detail about the negotiations surrounding the bailouts of other major financial institutions, including the creation and implementation of the Troubled Asset Relief Program (TARP). These negotiations reveal the complexities and urgent nature of the crisis.3. **Merrill Lynch's Sale**: The sale of Merrill Lynch to Bank of America under pressured conditions illustrates the desperation and rapid changes in the landscape of financial power during the crisis.4. **AIG's Rescue**: The federal government's rescue of AIG, an insurance giant on

This week on Breaking Battlegrounds, we have an exciting lineup featuring Noah Rothman, senior writer at National Review and author of "The Rise of the New Puritans" and "Unjust: Social Justice and the Unmaking of America." Rothman will delve into his recent article, "Iran's Attack on Israel Was a Political Sea Change," exploring the implications of Iran's aggression towards Israel. Additionally, we'll discuss Rothman's insights on the pro-Palestine protests on campuses, USC's decision to cancel graduation ceremonies for the same students who did not get a high school graduation due to COVID, and whether we have reached peak wokism. Later in the show, Congressman Darrell Issa will join us to discuss Republican veterans preparing for the 80th anniversary of D-Day, showcasing their dedication with daring parachute jumps from original World War II transport planes. We'll also examine the recent shift in migrant arrivals along the southern border, with San Diego emerging as the top region for the first time in decades, providing a comprehensive analysis of this evolving situation. Tune in for thought-provoking discussions and insightful analysis on Breaking Battlegrounds every week.Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegrounds-About out guestsNoah Rothman is a senior writer at National Review. He is the author of The Rise of the New Puritans: Fighting Back against Progressives' War on Fun and Unjust: Social Justice and the Unmaking of America. Follow Noah on X at @NoahCRothman. -Congressman Darrell Issa represents the people of California's 48th Congressional District. Congressman Issa sits on the House Judiciary Committee, House Foreign Affairs Committee, and House Science, Space and Technology Committee. Originally from Ohio, Issa enlisted in the U.S. Army when he was a senior in high school. Through his military service, he received an ROTC scholarship and graduated with a degree in business from Siena Heights University in Adrian, Michigan. Upon graduation, Issa was commissioned as an Army officer, and ultimately obtained the rank of captain. He completed his active-duty military service in 1980 and turned his interests to the private sector.At the height of his career in business, Issa served as CEO of a California-based electronics company that he founded and built in the mid-1990s, which became the nation's largest manufacturer of vehicle anti-theft and auto security devices. In 1994, Issa was named Entrepreneur of the Year. Issa also served as chairman of the Consumer Electronics Association, an organization of 2000 companies within the consumer technology industry.Issa is a senior member of the House Judiciary Committee and the House Foreign Affairs Committee.  From 2011-2015, he was the Chairman of the Oversight and Government Reform Committee, and  previously served on the House Permanent Select Committee on Intelligence, the Energy & Commerce Committee, and the Small Business Committee.As a congressman and leader at California's grassroots level, Issa has championed smart, limited government and advanced legislation to balance the federal budget and promote transparency to hold government accountable to the people.A holder of 37 patents, Issa has been vigilant about protecting intellectual property rights. His successful efforts to fight human trafficking along the U.S. border have resulted in tougher laws, stiffer penalties, and more consistent enforcement. His watchful concern to guarantee that U.S. taxpayers receive the royalties they are owed from mineral interests on federal lands exposed fraud and mismanagement at the Mineral Management Service (MMS) in 2006. In 2008, when Congress was asked to pass the Troubled Asset Relief Program (TARP) in the wake of that year's financial crisis, Issa stood by his experience starting and growing successful businesses, opposed giving a blank-check bailout to Wall Street, and voted against all government bailouts. Follow Congressman Issa on X at @repdarrellissa. Get full access to Breaking Battlegrounds at breakingbattlegrounds.substack.com/subscribe

Have you ever wondered about the intersection of politics and money? Historically, Wall Street and Washington, D.C. operated in separate spheres, but the 2008 financial crisis changed that dynamic. With the Troubled Asset Relief Program (TARP) and its $700 billion bailout, the financial epicenter shifted from New York to D.C., where decisions now influence global markets. Central Bank Digital Currencies (CBDCs) are the latest financial instruments caught in this political crossfire. While countries like China have already adopted CBDCs and others are in development, the U.S. finds itself in a heated debate. Subscribe to podcast updates: https://form.jotform.com/223614751580152Ask Ric: https://www.thetayf.com/pages/ask-ricRic's Books: https://www.amazon.com/stores/Ric-Edelman/author/B000APYJPM-----Links from today's show:CBDA to become Certified in Blockchain and Digital Assets: https://dacfp.com/certificatIon/Boston Fed, MIT complete research project into feasibility of a central bank digital currency: https://www.bostonfed.org/news-and-events/news/2022/12/project-hamilton-boston-fed-mit-complete-central-bank-digital-currency-cbdc-project.aspxBank of England statement on Central Bank Digital Currency: https://www.bankofengland.co.uk/news/2021/april/bank-of-england-statement-on-central-bank-digital-currencyJPM Coin [ONYX]: https://www.jpmorgan.com/onyx/coin-system.htmCiti coin: https://www.bloomberg.com/news/articles/2023-09-18/citi-debuts-token-service-in-latest-foray-into-digital-assets#xj4y7vzkg-----Follow Ric on social media:Facebook: https://www.facebook.com/RicEdelmanInstagram: https://www.instagram.com/ric_edelman/ LinkedIn: https://www.linkedin.com/in/ricedelman/X (formerly Twitter): https://twitter.com/ricedelman YouTube: https://www.youtube.com/@RicEdelmanBrought to you by:Global X ETFs: https://www.globalxetfs.com/Invesco QQQ: https://www.invesco.com/qqq-etf/en/home.htmlPrisidio: https://www.prisid.io/Schwab: https://www.schwab.com/Disclosure page: https://www.thetayf.com/pages/sponsorship-disclosure-fee-----

Join us this week as we delve into crucial conversations and heartwarming nostalgia. In this episode, our first guest, Congressman Darrell Issa, opens up about his dedicated efforts in supporting the 13 Gold Star families who have been profoundly impacted by the unfortunate fallout of the Biden administration's withdrawal from Afghanistan. Through insightful dialogue, we uncover the dedication and resilience required to address these critical issues.Shifting gears, we invite you to a captivating trip down memory lane. We're thrilled to be joined by the charismatic cast of 'The Sandlot,' coming together to celebrate the 30th anniversary of this beloved classic. Chauncey Leopardi (Squints), Marty York (Alan “Yeah-Yeah” McClennan) and Victor DiMattia (Timmy Timmons) join us as they share their treasured experiences, behind-the-scenes stories, and the enduring magic that has made 'The Sandlot' a timeless masterpiece.Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegroundsCongressman Darrell Issa represents the people of California's 48th Congressional District in the United States House of Representatives.The 48th District encompasses the central and eastern parts of San Diego County and a portion of Riverside County, including the communities of Fallbrook, Bonsall, Valley Center, Ramona, Escondido, Santee, Poway, Lakeside, Alpine, Temecula, Murrieta and the mountain and desert areas of the San Diego-Imperial County line. Originally from Ohio, Issa enlisted in the U.S. Army when he was a senior in high school. Through his military service, he received an ROTC scholarship and graduated with a degree in business from Sienna Heights University in Adrian, Michigan. Upon graduation, Issa was commissioned as an Army officer, and ultimately obtained the rank of captain. He completed his active-duty military service in 1980 and turned his interests to the private sector.At the height of his career in business, Issa served as CEO of a California-based electronics company that he founded and built in the mid-1990s, which became the nation's largest manufacturer of vehicle anti-theft and auto security devices. In 1994, Issa was named Entrepreneur of the Year. Issa also served as chairman of the Consumer Electronics Association, an organization of 2000 companies within the consumer technology industry.Issa is a senior member of the House Judiciary Committee and the House Foreign Affairs Committee.  From 2011-2015, he was the Chairman of the Oversight and Government Reform Committee, and  previously served on the House Permanent Select Committee on Intelligence, the Energy & Commerce Committee, and the Small Business Committee.As a congressman and leader at California's grassroots level, Issa has championed smart, limited government and advanced legislation to balance the federal budget and promote transparency to hold government accountable to the people.A holder of 37 patents, Issa has been vigilant about protecting intellectual property rights. His successful efforts to fight human trafficking along the U.S. border have resulted in tougher laws, stiffer penalties, and more consistent enforcement. His watchful concern to guarantee that U.S. taxpayers receive the royalties they are owed from mineral interests on federal lands exposed fraud and mismanagement at the Mineral Management Service (MMS) in 2006. In 2008, when Congress was asked to pass the Troubled Asset Relief Program (TARP) in the wake of that year's financial crisis, Issa stood by his experience starting and growing successful businesses, opposed giving a blank-check bailout to Wall Street, and voted against all government bailouts.-The Sandlot Cast:Chauncey Leopardi is an American actor known for playing Michael "Squints" Palledorous in the 1993 film The Sandlot and Alan White in the 1999 series Freaks and Geeks.Marty York is an actor, known for playing Alan “Yeah-Yeah” McClennan in The Sandlot (1993). He is also known for Boy Meets World (1993) and Due Justice.Victor DiMattia is an actor and director, known for The Sandlot (1993), Cool as Ice (1991) and Dennis the Menace (1987).About The Sandlot: When Scottie Smalls (Thomas Guiry) moves to a new neighborhood, he manages to make friends with a group of kids who play baseball at the sandlot. Together they go on a series of funny and touching adventures. The boys run into trouble when Smalls borrows a ball from his stepdad that gets hit over a fence. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit breakingbattlegrounds.substack.com

In this episode, the ACFE's Chief Training Officer John Gill sat down with Charles Antonucci, the former president of The Park Avenue Bank, who was convicted in 2015 of trying to defraud the Troubled Asset Relief Program (TARP). Antonucci also pleaded guilty to other charges including self-dealing, bribery, embezzlement of bank funds, and a multi-million fraud scheme involving an insurance company. *The ACFE does not compensate convicted fraudsters.

What is the future of money? In this episode, we talk to Tim Massad, former Chair of the U.S. Commodity Futures Trading Commission about how to regulate stablecoins, central bank digital currencies (CDBCs), and other cryptocurrencies. Tim discusses how his experience with helping the U.S. government implement its bail-out of large banks during the 2008 Great Financial Crisis has influenced his perspective on the benefits and risks of stablecoins. Tim also talks about how he is in favor of promoting more competition in the financial sector including from new crypto firms in order to speed up payments in the U.S. while still protecting consumer interests. Finally, Tim encourages young lawyers to seek out opportunities to work on hard problems at the cutting edge of finance, technology, regulations, and more in their careers in order to do meaningful work to make life better for the average American. Guest bio: Tim Massad served as Chairman of the U.S. Commodity Futures Trading Commission from 2014 to 2017. Under his leadership, the agency implemented many critical reforms to markets including declaring cryptocurrencies to be commodities subject to the agency's jurisdiction. Previously, Professor Massad oversaw the Troubled Asset Relief Program (TARP), the principal U.S. government response to the 2008 financial crisis in his capacity as the Assistant Secretary for Financial Stability of the U.S. Department of the Treasury. Prior to his government service, Tim Massad was a partner in the law firm of Cravath, Swaine & Moore LLP. Tim Massad is currently a Research Fellow at the Kennedy School of Government at Harvard University and an Adjunct Professor of Law at Georgetown Law School. Related links: Regulating stablecoins isn't just about avoiding systemic risk. Timothy Massad. The Brookings Institution. October 5, 2021. https://www.brookings.edu/research/regulating-stablecoins-isnt-just-about-avoiding-systemic-risk/ Report on Stablecoins. President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency. November 1, 2021. https://home.treasury.gov/system/files/136/StableCoinReport_Nov1_508.pdf Engineering is the Key to the Debate Over Whether to Create a CBDC. Timothy Massad. Mossavar-Rahmani Center for Business and Government at Harvard Kennedy School. October 17, 2021. https://www.hks.harvard.edu/centers/mrcbg/news-events/massad10172021 Can a Cryptocurrency Break the Buck? Timothy Massad. Bloomberg. May 31, 2021. https://www.bloomberg.com/opinion/articles/2021-05-31/stablecoins-like-tether-should-face-regulators-scrutiny?sref=hU7uPhn8 Coinbase's Small Fine is a Big Warning to IPO Investors. Timothy Massad. Bloomberg. April 8, 2021. https://www.bloomberg.com/opinion/articles/2021-04-08/coinbase-s-small-fine-is-a-big-warning-to-ipo-investors?sref=hU7uPhn8 Facebook's Libra 2.0. Timothy Massad. The Brookings Institution. June 22, 2020. https://www.brookings.edu/research/facebooks-libra-2-0/ It's time to strengthen the regulation of crypto-assets. Timothy Massad. The Brookings Institution. March 18, 2019. https://www.brookings.edu/research/its-time-to-strengthen-the-regulation-of-crypto-assets/

Ben Purser, chief risk officer for mortgage lender, Roundpoint Mortgage Servicing Corporation, and Barak Cohen, partner in Perkins Coie’s White Collar & Investigations practice and lead for the firm’s Commercial Litigation in Washington, D.C., discuss the challenges of legal compliance and risk in an industry that has been directly affected by two global financial crises in one decade. Ben has 34 years of experience in financial services, including service as chief audit executive in two public companies, chief compliance officer in the Troubled Asset Relief Program (TARP) at the U.S. Department of the Treasury, and chief risk officer at two different mortgage companies. Barak is a former corruption prosecutor who has both conducted government investigation in the financial services industry and represented clients in the industry. Drawing on their unique insider perspectives, Ben and Barak discuss the delicacy of balancing consumer needs against profitability, and whether regulators, particularly today, address or impede achieving this equilibrium. In the wide-ranging discussion, Ben and Barak touch on anticipated CARES Act investigations and how these may compare to TARP oversight; managing conflicting guidance from state and federal regulators; and predictions for imminent enforcement in the wake of the coronavirus stimulus funds. They cap their discussion with straightforward advice for companies in the industry that are navigating the uncharted path of legal compliance in the current global pandemic.

A new coronavirus relief bill was introduced recently that includes preventing corporations from using taxpayer money for stock buybacks! Why exactly? Well for example - Boeing has spent $44 billion on buybacks over the last six years - 74% of its free cash flow; it’s now seeking $60 billion in federal moneyOver 10 years, Airlines (American Airlines, Southwest, United, spent 96% of their cash flow on buybacks ($50 billion); they are now seeking $50 billion from the government.Just staggering numbers... So what is a stock buyback? Why do companies do buybacks, and why could it have adverse effects to the long term health of the company? In this episode we talk about the history of buybacks, companies practicing it, previous bailouts such as the Troubled Asset Relief Program (TARP) which was a $700 billion government bailout, consequences of the bailouts and buybacks in aiding inequality and all time high C-suite/ executive salaries. Also where do employees and layoffs stand in such uncertain times? Although it boosts the share price in the short term, buybacks in many ways limits the company's ability to have a rainy day fund to be prepared for recessions & Black Swan events such as the COVID-19 pandemic. It’s time to do the right thing! Like Mark Cuban says "No buybacks. Not now, not a year from now, not 20 years from now. Not ever!"Support the show (https://www.instagram.com/thc_pod/)

Most real estate investors want to use other people’s money (OPM). Why use their own, when they can use OPM to put into deals? Why risk your own money, when you can push it onto someone else? Find real estate investors willing to lend money, especially to flippers. Today, Clint Coons of Anderson Business Advisors talks about lending with Paul Jackson and Rick Morgan of Residential Capital Partners.    Highlights/Topics: Expertise, knowledge, and relationships with investors and banks allowed Rick and Paul to offer a lending service to make profits vs. doing the buying and flipping themselves Accounting is the language of business; dollars are going out and coming in Residential Capital Partners: Originated in 2009, during the downturn when banks sold bad assets and took in Troubled Asset Relief Program (TARP) money We Buy Ugly Houses: HomeVestors attract new franchisees and grow its business; Rick and Paul use franchise to underwrite debt acquisition of single-family distressed paper Millenials want to rent, instead of buy a place Problems for Property Flippers: Hard money lender puts deal together; shock sets in when money for rehab isn’t available Residential Capital Partners offer consistent delivery, clear communication, description of how money is priced and structured, and do what’s promised Keeping the cash in borrower’s pocket is key to staying healthy in fix-and-flip business Residential Capital Partners primarily do cosmetic types of rehab loans Residential Capital Partners’ Loan Process: Citizens profit, protect, and act as collateral Why do flippers fail? First rule of business: Whatever happens, live to fight another day Take this to Heart: Paul and Rick want people to be profitable and successful Resources Residential Capital Partners HomeVestors Troubled Asset Relief Program (TARP) Trulia Zillow House Hacker HUD Clint Coons Anderson Advisors Tax and Asset Protection Event

Every week the show host John Siracusa talks with impressive fintech leaders and entrepreneurs, through conversation uncovers the remarkable stories behind them, their creations and the most important topics in fintech. You can subscribe to this podcast and stay up to date on all the stories here on iTunes, Google Play, Stitcher, Spotify and iHeartRadio In this episode the host John Siracusa chats with Ian Lampl, co-founder and CEO at LoanStreet.  LoanStreet, enables institutions like banks & credit unions to syndicate their loans to interested investors. Before Ian co-founded LoanStreet, he was the deputy chief counsel, office of financial stability — Troubled Asset Relief Program (TARP) at the U.S. Department of Treasury.  In the beginning Loanstreet wasn't working, It took about 1 year to pivot the model and 4 years of brutal hard work before Loanstreet found traction. Now they have hundreds of banks and credit unions as clients.   Tune in and Listen.   Subscribe now on iTunes, Google , Stitcher, Spotify and iHeartRadio to hear next Tuesday's episode with Ohad Samet from TrueAccord.   About the host: John is the host of the twice-weekly “Bank On It” podcast recorded onsite at offices of Carpenter Group, a creative services agency focused on the financial services industry. He's a highly sought after fintech, VC and financial services industry enthusiast and connector. He's in the center of the fintech ecosystem, keeping current with the ever-innovating industry.   Follow John on LinkedIn, Twitter or on Medium

The Honorable Senator Elizabeth Warren spoke on “Fighting for Change in the U.S. Senate,” and discussed her background and career path to becoming the senior U.S. Senator for Massachusetts. Elizabeth Warren is the senior United States Senator from Massachusetts, elected in 2012. She was the driving force behind the creation of the Consumer Financial Protection Bureau, and served as Chair of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP). Senator Warren is a member of the Senate Health, Education, Labor, and Pensions (HELP) Committee. A law professor for more than 30 years, most recently at Harvard Law School, Senator Warren is the author of ten books, including A Fighting Chance, The Two-Income Trap and All Your Worth. She lives with her husband Bruce Mann in Cambridge, MA and has two children and three grandchildren.

In Episode 73 of Accredited Investor Markets Radio, Sara Hanks, co-founder and CEO of CrowdCheck, reflects on vetting early-stage private companies seeking online capital formation in the New World created by the JOBS Act. Ms. Hanks' perspective is also informed by her past as an SEC attorney, and her present as co-chair of the SEC Advisory Committee on Small and Emerging Companies. You can learn more about Sara Hanks and CrowdCheck here. Or you can find them here: Twitter: @SaraCrowdCheck; @CrowdCheck LinkedIn: Sara Hanks; CrowdCheck Facebook YouTube   About Sara Hanks Sara is a corporate and securities attorney with three decades of experience. She is the co-founder of CrowdCheck, which provides due diligence, disclosure and compliance services for online capital formation. She is co-Chair of the SEC’s Advisory Committee on Small and Emerging Companies, and her comments are her own and do not represent the positions of the SEC. Sara Hanks, co-founder and CEO of CrowdCheck, is an attorney with over 30 years of experience in the corporate and securities field. CrowdCheck provides due diligence, disclosure and compliance services for online capital formation. Its services help entrepreneurs and project sponsors through the disclosure and due diligence process, give investors the information they need to make an informed investment decision and avoid fraud and help intermediaries avoid liability. Sara’s prior position was General Counsel of the bipartisan Congressional Oversight Panel, the overseer of the Troubled Asset Relief Program (TARP). Prior to that, Sara spent many years as a partner of Clifford Chance, one of the world’s largest law firms.  While at Clifford Chance, she advised on capital markets transactions and corporate matters for companies throughout the world.  Sara began her career with the London law firm Norton Rose. She later joined the Securities and Exchange Commission and as Chief of the Office of International Corporate Finance led the team drafting regulations that put into place a new generation of rules governing the capital-raising process. Sara received her law degree from Oxford University and is a member of the New York and DC bars and a Solicitor of the Supreme Court of England and Wales. She serves as co-Chair of the SEC’s Advisory Council on Small and Emerging Companies. She holds a Series 65 securities license as a registered investment advisor. Sara is an aunt, Army wife, skier, cyclist, gardener and animal lover.    

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices

Philip A. Wallach is the author of To The Edge: Legality, Legitimacy, and the Responses to the 2008 Financial Crisis (Brookings Institution Press, 2015). Wallach is a fellow in Governance Studies at the Brookings Institution. There has been a lot written about the financial crisis of the late 2000s, but little with the attention to important concepts from political science. Wallach investigates the various federal strategies to address the meltdown of the financial sector from the perspective of legitimacy, seeking to understand what we can learn about this idea from the unprecedented expansion of federal power. From efforts to save the failing investment banks, Bear Stearns, Lehman Brothers, AIG, to the passage of the Troubled Asset Relief Program (TARP), federal officials applied a largely ad-hoc approach that Wallach deems “adhocracy” often substituting expedience for legal authority. While this worked in the short-term, Wallach probes where this leaves the country and speculates about what will come in the future. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/african-american-studies

In 2008, Elizabeth Warren took leave from her job teaching bankruptcy at Harvard Law School to oversee the Troubled Asset Relief Program (TARP), the $700 billion bailout of Wall Street banks. In 2010 Congress passed legislation to overhaul how the financial industry is regulated, and President Obama named Warren to a special position helping set up the new Consumer Financial Protection Bureau.Professor Warren has most recently served as the Leo Gottlieb Professor of Law at Harvard. She was the Chief Adviser to the National Bankruptcy Review Commission and was appointed by Chief Justice Rehnquist as the first academic member of the Federal Judicial Education Committee. She has served as a member of the Commission on Economic Inclusion established by the FDIC. She served as Vice-President of the American Law Institute and has been elected to membership in the American Academy of Arts and Sciences.Warren has written nine books and more than a hundred scholarly articles dealing with credit and economic stress. Her latest two popular books, The Two-Income Trap and All Your Worth, were both on national bestseller lists.Elizabeth Warren has been principal investigator on empirical studies funded by the National Science Foundation, the Ford Foundation, and more than a dozen other foundations. She has testified several times before House and Senate committees on financial issues.Time Magazine has twice named Elizabeth Warren one of the Time 100 Most Influential People in the World; the Globe named her Bostonian of the Year; and the National Law Journal named her one of the Most Influential Lawyers of the Decade. She has been recognized for her work by several other publications and professional groups, including Forbes, GQ and Smart Money.  Recorded On: Thursday, June 30, 2011