Net job losses in the U.S. exceeded 2 million during the first quarter of 2009. The recession has been global, with most major economies showing significant signs of weakness and major corporations declaring bankruptcy. The Federal Reserve and U.S. government have taken unprecedented steps to stem the crisis and stimulate a recovery over the past several months. However, the cost has been a huge increase in federal borrowing, and governmental ownership of large companies. Stock markets in the U.S. and abroad remain volatile, and opinions on market developments for the balance of the 2009 and for 2010 differ considerably.

Columbia Business School Alumni Club of New York has invited three experts to discuss the impact of Federal Reserve and governmental actions, and share their perspectives on the direction of domestic and global financial markets.
 
Speaker bios:

Jeff Applegate is Chairman of Citi Global Investment Committee: As Chief Investment Officer, he leads the investment teams responsible for client portfolios. In addition, he serves on Citi's Pension Plan Investment Committee. Prior to joining Citi, Jeff was the chief investment officer of Franklin Templeton, overseeing the global equity, fixed income, real estate and alternative investments teams. Previous to that, he was chief investment strategist for Lehman Brothers and Credit Suisse First Boston.
David Epstein is Professor of Political Science at Columbia University. He is an expert on regulation, economic policy, and congressional-executive politics. He has consulted for the World Bank, State Department, the Pew Foundation, and the Russell Sage Foundation. Prof. Epstein is co-author of Delegating Powers, as well as over 20 articles in leading journals. He is currently studying the political economy of financial regulation, and the regulatory underpinning of efficient markets.
 
Dr. Charles Lieberman is Chief Investment Officer for the money management and investment advisory firm Advisors Capital Management L.L.C. Previously, he was chief economist and head of research at Chase Manhattan, Chemical, and Manufacturers Hanover. A regular guest of business media programs, he has appeared on CNBC, Bloomberg television, CNN Financial News, Reuters Financial Television, and Fox Business News.
 
Date: Tuesday, June 9, 2009
Time: 6:00—Registration
6:30—Panel presentation, followed by Q & A
8:00—Networking
8:30-- Close

Location: Columbia University Club of New York, 15 West 43rd Street
 
Light refreshments will be served.
 
Cost: CBSAC/NY members $25; non-members $35.

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Acknowledgements: Thanks to Marjorie Churgin and Bruce Crawford of the CBSAC Finance and Banking Committee, and Todd Rubsamen, President of the CBSAC/NY, for organizing the panel.