After the Credit Freeze Thaws: Are Mortgage-Backed Securities the Best Way to Finance American Homeownership?
Mortgage-Backed Securities supposedly created an efficient, low-risk mechanism for
international capital markets to finance homeownership for large numbers of Americans. Now
that we have seen some of the downsides of MBS, what role should they play in the mortgage
finance system? Should we instead require mortgage originators to retain more of the risk of
loan default – perhaps through covered bonds? This keynote roundtable will feature some of the
leading thinkers in finance, academia and government debating these questions. Discussants will
include:
Moderator:
JOSEPH TRACEY, Executive Vice President and Director of Research, Federal Reserve Bank of New York
Panelists:
PETER ENGBERG JENSEN, Chairman for the Association of Danish Mortgage Banks and Group Chief
Executive, Nykredit Realkredit A/S
LEWIS RANIERI, Chairman, Ranieri Partners Management LLC
LAWRENCE J. WHITE, Arthur E. Imperatore Professor of Economics, Department of Economics, NYU
Stern School of Business
AUSTAN GOOLSBEE, Staff Director and Chief Economist, President’s Economic Recovery Advisory Board; Nominee to Council of Economic Advisors
PAUL JORISSEN, Partner, Co-Head, Global Finance, Mayer Brown