Welcome to the Beta Gamma Sigma Alumni in NYC - Banking - after Frank-Dodd Bill and $3 T + losses - the long and short of it

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Banking - after Frank-Dodd Bill and $3 T + losses - the long and short of it

A panel discussion led by Bill Ackman of Pershing Square Capital Management:

MBA Corps Developing C.E.O.s (C.reators of E.conomic O.pportunity) 
NYU School of Continuing and Professional Studies, StamSteer & MBA Corps invite Beta Gamma Sigma-NYC members to
a panel discussion led by

Bill Ackman of Pershing Square Capital Management:
"Banking -- after Frank-Dodd Bill and $3 T + losses - the long and short of it".
Will the Frank-Dodd bill restore Americas financial stability? Or, do its 2,300+ pages enhance government's role in financial markets and lead to more sanctioned regulatory arbitrage?

Many believe that Legislative and Regulatory actions since the credit crunch raise more questions than answers and actually INCREASE systemic risk going forward.
At 6/30/2010 Financial Crisis Inquiry Commission hearings, AIG execs admitted that it placed NO LIMITS on the notional amount of credit default swaps the company sold. Yet, surprisingly, this line of questioning was not pursued.

Basel II regulators are back....with a new and improved Basel III capital regime. Yet they still treat AAA ratings, whether "real" borrowers or "fabricated" Structured Finance special purpose entities, THE SAME, requiring virtually zero capital.

What about Banking's future? Are pre-credit crunch 15+ % Returns on Equity possible, any longer?

We've been down this road before ... and recent history may provide some answers. MBIA, the financial guarantor, is the Credit Crunch in Microcosm. In some people's opinion, mis-pricing and flawed corporate governance / management were key to the company's catastrophic meltdown starting in 2007 - which, in their view, was an ominous portent of what would spread throughout global markets since 2008.

Join our panel to discuss the Financial Reform of preventing financial crises in tomorrows debt markets - which you won't find in the legislation.

MODERATOR: Liz Claman, Anchor, FOX Business Network

William Ackman is the managing member and portfolio manager of Pershing Square Capital Management, L.P. http://en.wikipedia.org/wiki/Bill_Ackman

David Askin co-founder of Bloomberg's Evaluated Pricing Business (BVAL).

Ed Grebeck: Chief Executive Officer, Tempus Advisors. NYU Professor, including Credit Derivatives Trading Products (CDS 101)

Christine Richard: Bloomberg News Reporter author of Confidence Game --- How a hedge fund manager called Wall Streets bluff. The book chronicles the story of Bill Ackmans money-making short position on University.

Bio's are below.

Date: Wednesday, August 4th
Time: 6:00 PM to 8:00 PM

Program: 6:00 to 6:30 Reception and Networking
               6:30 to 8:00 Remarks and Q&A

200 Park Avenue, 13th Floor.
Met Life Building (Above Grand Central Terminal)

Photo Identification is Required

BGS-NYC Members, NYU Alumni, StamSteer and MBA Corps members: $20
Non members: $25
Students: $10
Community Partners: $5


William Ackman:

William Ackman is the managing member and portfolio manager of Pershing Square Capital Management, L.P., a concentrated research-intensive fundamental value investor in long and occasionally short investments in public markets. Pershing Square has played an active role in creating value at companies including McDonald's, Ceridian Corporation, Longs Drugs, Wendy's International, and General Growth Properties.

Prior to forming Pershing Square, Mr. Ackman co-founded Gotham Partners, L.P., a public and private equity investment partnership. Prior to Gotham Partners, Mr. Ackman began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Mr. Ackman received an MBA from Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College.

Mr. Ackman's board memberships include the Board of Dean's Advisors of the Harvard Business School and a number of not-for-profit boards including the Pershing Square Foundation, a charitable foundation that he founded in 2007.


David Askin:

David Askin joined Bloomberg, LP as a co-founder of Bloomberg's Evaluated Pricing Business (BVAL). Previously over his 30-year Wall Street career, David has served as an executive-level capital markets professional for several global financial institutions, including Merrill Lynch, Moody's Investors Service, Drexel Burnham Lambert and Daiwa Securities and also ran his own asset management company. Contemporaneously with his financial services career, David has been an adjunct professor of finance at the Wharton School of the University of Pennsylvania, the Graduate School of Business at Columbia University and the Financial Engineering Program at Polytechnic University. He has written extensively on a wide spectrum of finance topics, with articles and chapters published in a variety of finance textbooks and periodicals.
David has a Bachelor's degree in Business and Industrial Management from the Johns Hopkins University, an MBA in Finance from the University of Pittsburgh and has completed his coursework and comprehensive exams in the Doctoral Program in Finance at the University of Michigan. In his free time David is a licensed soccer referee and enjoys awarding red cards

Liz Claman:

Anchor, FOX Business Network

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