The Financial Crisis of 2007-2008, also known as the global financial crisis and the 2008 crisis, is considered by many economists to have been the worse financial crisis since the Great Depression of the 1930s. This period was marred by:
· failure of 465 banks from 2008 to 2012 compared to only 10 banks in 2008;
· failure of key businesses;
· declines in consumer wealth estimated in trillions of U.S. dollars;
· the European sovereign-debt crisis;
· a housing market characterized by evictions & foreclosures estimated by some at 5M; and
· prolonged unemployment.
Life as we knew it failed to exist. We were scared and our confidence was shaken. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009, the Dodd-Frank regulatory reforms were enacted to lessen the chance of this financial crisis recurring and the Basel III capital and liquidity standards were adopted by countries around the world. Are these measures enough? Who is minding the store? Well, attending the Urban Financial Services Coalition’s 42nd Annual Summit on June 23-25, 2016 will help provide answers to these questions and perhaps restore confidence you may have lost in the financial system.
Mr. Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), will be the keynote luncheon speaker on Friday, June 24, 2016. The FDIC’s primary mission is to maintain public confidence in our nation’s financial system, the foundation of financial stability. The agency performs its mission by insuring deposits held in our nation’s banking system, examines and supervises banks for safety and soundness and compliance with laws and regulations and resolves failed banks both large and small.
To learn more about today’s FDIC from the “Store Keeper”, please visit Annual Summit page to register for its 42nd Annual Summit. Chairman Gruenberg will discuss the roles and responsibilities of the FDIC and answer questions from the audience that may restore your loss consumer confidence.
Click for events schedule ==> Annual Summit and African American Briefing 20160