The Second Symposium on Ending Too Big to Fail, May 16

Featured presenters include:

  • John Bovenzi
    Co-chair of the Bipartisan Policy Center’s Failure Resolution Task Force
  • John H. Cochrane
    Senior Fellow at the Hoover Institution, Stanford University
  • Luigi Zingales
    Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance and Charles M. Harper Faculty Fellow, University of Chicago Booth School of Business

Bovenzi joined Oliver Wyman’s Financial Services Practice in 2009 and is a partner in the public policy area. His work includes addressing corporate governance issues, failure-resolution planning, regulatory compliance and bank funding issues. Bovenzi is co-author of a report titled “Too Big to Fail: The Path to a Solution.” 

Cochrane is a distinguished senior fellow at the University of Chicago Booth School of Business and at the Becker-Friedman Institute. He authored a paper titled “Lessons from the Financial Crisis.” Other publications include the book Asset Pricing, op-eds for the Wall Street Journal and a blog called “The Grumpy Economist.”

Zingales' research interests span from corporate governance to financial development and from political economy to the economic effects of culture. He co-developed the Financial Trust Index, which is designed to monitor the level of trust that Americans have toward their financial system. In addition to holding his position at Chicago Booth, Zingales is currently a faculty research fellow for the National Bureau of Economic Research, a research fellow for the Center for Economic Policy Research and a fellow of the European Governance Institute.

The Minneapolis Fed’s #EndingTBTF initiative will explore various proposals from expert researchers and incorporate input from a wide range of thought leaders, culminating in an actionable plan to end TBTF, which will be released by the end of the year.

Stay up to date with the initiative by filling out this form, or follow us on Twitter @MinneapolisFed and follow the conversation with the hashtag #EndingTBTF.

Agenda - May 16, 2016

8:30 a.m. – 9:30 a.m.

Continental Breakfast

9:30 a.m. – 9:40 a.m.
Introduction to symposium and welcoming remarks
Neel Kashkari, President, Federal Reserve Bank of Minneapolis
River Room, First Floor

9:40 a.m. – 11:40 a.m.
Panel 1: Taxing leverage in the financial system
John H. Cochrane, Senior Fellow at the Hoover Institution, Stanford University, will present a proposal on taxing leverage in the financial system.
Prepared presentation [pdf]

Panelists include: 

  • Michael Hasenstab
    Executive Vice President & Chief Investment Officer at Templeton Global Macro
  • Michael Keen
    Deputy Director of the Fiscal Affairs Department, International Monetary Fund
  • Donald Marron
    Institute Fellow and Director of Economic Policy Initiatives at the Urban Institute
    Prepared presentation [pdf]
  • Thomas Philippon
    Professor of Finance at the NYU Stern School of Business
    Prepared presentation [pdf]

Morning session video [YouTube]

12:00 p.m. – 1:30 p.m.

Keynote lunch: Why I changed my mind on Glass Steagall
Luigi Zingales, Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance and Charles M. Harper Faculty Fellow at the University of Chicago Booth School of Business
Reserve Dining Room, Second Floor

Keynote video [YouTube]

1:30 p.m. – 2:00 p.m.
Break

2:00 p.m. – 4:00 p.m.

Panel 2: Exploring alternatives to the Dodd-Frank Act’s resolution framework
John Bovenzi, Co-chair of the Bipartisan Policy Center’s Failure Resolution Task Force, will present a proposal that explores alternatives to the Dodd-Frank Act’s resolution framework.
Prepared presentation [pdf]
River Room, First Floor

Panelists include:

  • Ben S. Bernanke
    Distinguished Fellow in Residence, Economic Studies, Brookings Institution. Bernanke served as Chairman of the Board of Governors of the Federal Reserve System from February 2006 to January 2014. He also chaired the Federal Open Market Committee, the System’s principal monetary policymaking body.
  • J. Christopher Flowers
    Managing Director and CEO of J.C. Flowers & Co.
  • Richard J. Herring
    Jacob Safra Professor of International Banking and Professor of Finance, Wharton School, University of Pennsylvania
    Prepared presentation [pdf]
  • David A. Skeel
    S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School

4:00 p.m.
Symposium closing remarks
Neel Kashkari, President, Federal Reserve Bank of Minneapolis

Afternoon session video [YouTube]

4:00 p.m. – 5:30 p.m.
Reception

Evening Events at the University of Minnesota

These events are hosted by the Heller-Hurwicz Economics Institute at the University of Minnesota.

6:00 p.m. – 7:00 p.m.
Town Hall Discussion

7:00 p.m.
Reception

Town hall video [YouTube]