June meeting summary

Posted on July 1, 2009

This was a panel discussion, with speakers from the University of Richmond (Dr. Jorge Haddock), VCU (Dr. Michael Sesnowitz), and Old Dominion University (Dr. Nancy Bagranoff). Dr. Sesnowitz started things off with the role of our own government in the mortgage bubble collapse, citing quotes from Congressman Barney Frank and Congresswoman Maxine Waters where they made statements that Freddie Mac and Fannie Mae were in good shape and no crisis was imminent. This was well in advance of the actual explosion.The lesson to be learned from their “guidance?” Government is sometimes the problem.

Dr. Haddock added that complacency was a big contributor in the crisis, and continues to be a problem in other economic issues, where the government should be protecting the consumer. As in the Madoff case, where the SEC did not appear to have done its job.

Dr. Sesnowitz addressed the unemployment level by stating that protectionism doesn’t work.

In answering the question “How should one lead?”, Dr. Bagranoff suggested that it’s an opportunity to think creatively. Not in terms of saving dollars, but a true “teaching moment.” We can observe our results by looking in the mirror.

As you can see, we covered a wide range of topics, and the panel gave us some great insight, and was followed up by an energetic Q and A session. This was one of the better meetings I’ve been to.

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