Welcome to the Beta Gamma Sigma Alumni in NYC - Financial Reform Part 2

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Financial Reform Part 2

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NYU School of Continuing and Professional Studies, StamSteer, BGS-NYC &
MBA Corps are proud to present a panel discussion:
                   Financial Reform Part II
Lawrence G. McDonald: Author of "A Colossal Failure of Common Sense - the Inside Story of the Collapse of Lehman Brothers,"
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.
1)  Lawrence G. McDonald &  2)  Ed Grebeck
Thursday, Oct 28th, from 6:00 PM to 7:30 PM

1)  Lawrence G. McDonald:  Author of  "A Colossal Failure of Common Sense - the Inside Story of the Collapse of Lehman Brothers," The former Lehman Brothers Convertible and Distressed Debt Trader's book was published by Random House 7/21/09. It hit the New York Times Best Seller list in its first five days on the book shelves.  "Colossal" is one of the best selling business books in the world, translated into 10 different languages.

Larry is a Managing Director, Asset Management Division, at Pangea Capital Management. Prior to Lehman Brothers, he worked at Morgan Stanley in Convertible Securities Research and Sales.
He, too, was COO and Co-Founder of Convertbond.com, which was named by Forbes Magazine as "Best of the Web" from 2000-2003 as the world wide web's premier source for convertible securities information with news, valuation, terms and analysis tools for convertible securities.
Larry earned his Bachelors in Economics at University of Massachusetts.

2)  Ed Grebeck:
Chief Executive Officer, Tempus Advisors-- global capital markets strategists. NYU Professor.

Mr. Grebeck: A corporate banker, re insurer and portfolio manager who built businesses at major institutions and boutiques in the financial services industry, in the US and emerging markets, for over 20 years. He managed teams across all capital market functions: origination, underwriting, portfolio management, treasury funding and workout.  JPMorgan Chase, GE Capital and Employers Reinsurance are names you would know.  He has an MBA from Columbia and a BS from Cornell.

Last 3 Years: Ed is one of a handful of people in the world to demonstrably warn of today's Credit Crunch and suggest alternatives to profit, despite it.
In April 2006, he was the first to ask: "Why... Invest in CDOs, at All?", [Euromoney].  a prescient warning of Structured Finance illiquidity, conflicts of interest, flawed pricing models and today's trillion dollar losses.        

In 2007, he spotlighted endemic Conflicts among Rating Agencies, Investment Banks and Bond Insurers and pervasive Structured Finance Mispricing as major causes of today's $3 trillion +  losses and systemic risk to the world's financial markets.

Today, Structured Finance Banks depend upon government for survival. Issuer-Oriented Rating Agency business models are irreparably damaged. Bond Insurers' share prices are under the bus. Ed Grebeck is frequently cited as an early critic of SF and expert source in the media.


Ed's wide ranging, yet extensive drill down experience, produces INSTITUTIONAL MEMORY. Asset managers rely on him to identify opportunities and anticipate challenges to their investment objectives arising from the credit crunch impacting the global capital markets.

Mr. Grebeck teaches "Credit Default Swaps 101" at NYU.  Over 200 students, in 9 consecutive terms, have gained unique perspective: how banking changed from 1980 ["buy-and-hold"] to today ["everything trades"] and what lies ahead.

Mr. Grebeck undertakes client-directed, confidential, research that extracts value from tomorrow's opportunities as capital markets change, today.

Thursday, Oct 28th

Time: 5:30 PM to 7:30 PM

5:30 to 6:00 Reception and Networking
6:00 to 7:30 Remarks and Q&A


The Down Town Association
60 Pine Street, New York, NY 10005

Cost: BGS-NYC Members, NYU Alumni, StamSteer and MBA Corps members: $20
Non members: $25
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