Leveraging Government Partnerships for Capital and Funding in the Wake of Financial Meltdown
In the wake of the financial crisis, accessing capital and funding has become critical for businesses. This panel discussion, featuring experts from various government agencies, examines the changes in the financial landscape since 2006 when the subprime mortgage market was valued at $672 billion. With millions facing foreclosure and asset values dropping, government interventions such as the bailouts of Fannie Mae, Freddie Mac, and AIG have reshaped credit markets. Join us to explore strategic options for expanding during these challenging economic times.
Leveraging Government Partnerships for Capital and Funding in the Wake of Financial Meltdown
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Presentation Transcript
Accessing Capital and Funding Through Government Partnerships Wayne R. Gross Partner Snell & Wilmer LLP
Financial Meltdown: The Impact • How things have changed! • In 2006, subprime mortgage business was a $672 billion market. • Since then, millions of foreclosures and plummeting home values. • Major financial companies sitting on billions of dollars of bad mortgage debt, causing credit markets to freeze up.
Recent Government Interventions: • Government has taken over Fannie Mae and Freddie Mac ($100 billion bailout plan for each) • Emergency $85 billion loan to AIG • Government passed $700 billion rescue package, $250 billion of which is going directly into banks.
Options Available • Panel will discuss ways to expand despite economic downturn • Panelists: • Bijan Kian, Director of the Export Import Bank • Geoffrey Jackson, Regional Director for East Asia, United States Trade Development Agency • David Crane, Special Advisor, Jobs & Economic Growth, Office of Governor Schwarzenegger