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Session 1: A View from the Administration

The recent financial crisis has stemmed from a variety of different sources, including mismatches between incomes and housing prices, lending policies, a lack of understanding of the risks inherent in mortgage-backed securities, credit default swaps, and other securities, and so on. This session examines the sources of the crisis and discusses financial regulatory reforms which might minimize the risks of a recurrence of this type of crisis.

Presentations

Speakers

Jeffrey Liebman
Office of Management and Budget

Liebman is currently Executive Associate Director of the Office of Management and Budget, Executive Office of the President, The White House. Formerly, he was the Malcolm Wiener Professor of Public Policy at the Kennedy School of Government at Harvard University where he teaches courses in public sector economics and American economic policy. In his research, he studies tax and budget policy, social insurance, poverty, and income inequality. Recent research has examined the impacts of government programs such as the Earned Income Tax Credit, Social Security, and housing vouchers. He is a Research Associate at the National Bureau of Economic Research (NBER) where he is the Associate Director of the NBER Retirement Research Center. In the Clinton Administration, Liebman served as Special Assistant to the President for Economic Policy in the White House National Economic Council from 1998-1999. Liebman received his BA from Yale University and his PhD in economics from Harvard.