Wayne R. Gross Partner Snell & Wilmer LLP Accessing Capital and Funding Through Government Partnerships
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