The Fallout from the Bailout: The Impact of the 2008 Bailout on Lending Regulation, Securities Regulation and Business Ethics
Porter Wright Morris & Arthur LLP Program in Law, Religion & Ethics and the Dayton Law Project for Law & Business Ethics presented on March 20, 2009, "The Fallout from the Bailout: The Impact of the 2008 Bailout on Lending Regulation, Securities Regulation, and Business Ethics."
The symposium focused on government bailouts of private institutions with a focus on the financial sector. It drew together academics, practitioners, and regulators to have a frank and full discussion of the legal implications and consequences of the government's focus on bailouts as a means to combat the current financial crisis.
The 2008 Bailout: An Economic Necessity or Government Folly
This panel provides an overview of the 2008 bailout focusing on its benefits and shortcomings. Speakers explored the causes of the financial crisis that precipitated the bailout, whether the bailout was really a benefit to taxpayers or a burden and whether bankruptcy provided a viable alternative to the bailout.
Rethinking Lending Regulation after the 2008 Bailout
This panel focused on how failures in lending regulation potentially created the need for the 2008 bailout. Speakers explored how weaknesses in the mortgage market lead to the 2008 bailout, if lending regulation can prevent a future economic crisis and what is the appropriate level of regulation of the lending market.
Securities Regulation as a Means to Avoid a Future Economic Crisis
This panel focused on whether failures in regulating mortgage backed securities brought about the 2008 bailout. Speakers explored the role of mortgage backed securities in the current financial crisis, if new securities regulation could prevent a future economic crisis and what is the proper level of regulation in the securities market.
Business Ethics and Corporate Responsibility after the 2008 Bailout
This panel focused on how notions of business ethics and corporate reasonability have and will evolve as a result of the 2008 bailout and financial crisis that precipitated it. The topics include whether breaches of ethical duty created an environment necessitating a bailout, what role executive compensation may have played and what ethical duties corporate boards and managers have on a going forward basis.