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SAVE THE DATE
We Told You So: A Liberal Perspective on 21st Century Capitalism
Monday, January 14 at 6:00 p.m.
John F. Kennedy, Jr. Forum, 1st floor of the Littauer Building
Kennedy School of Government, 79 John F. Kennedy Street, Cambridge, MA
U.S. Representative Barney Frank (D-MA), chair of the House Committee on Financial Services, U.S. House of Representatives
For both housing and the larger economy, the sub-prime mortgage crisis has raised fundamental questions about the role of regulation in the modern economy. In both housing and the larger economy, new pools of capital are structured in a fashion that allows them to avoid the scrutiny required of regulated firms and financial institutions in both areas. This tendency has been exacerbated by a 30-year attack on the very notion of a regulatory role for governments and loud professions that the market not only knows best, but knows everything.
In this address, Representative Frank will discuss the changes in the financial marketplace and offer suggestions on what we must do to ensure that our regulatory system is able to keep up with those changes. Mr. Frank will also discuss the excessive and growing income inequality which has resulted from a diminished regulatory environment and an economy where productivity gains and free trade legislation has produced greater total income but income that is distributed unevenly, largely benefiting owners and executives but largely leaving out the middle class.
Co-sponsored by the Kennedy School of Government's Institute of Politics, the Rappaport Institute for Greater Boston, and the Regulatory Policy Program, and the Taubman Center for State and Local Government.
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