PRINCIPAL REDUCTION AND THE ECONOMY
June 28, 2012 2:00 – 5:00 PM
Economic Policy Institute, 1333 H Street NW, Washington DC
Presented By: Americans for Financial Reform
Space is limited, please RSVP to AFRPrincipalReduction@gmail.com
According to recent estimates, almost a third of U.S. homeowners have mortgage debt greater than the value of their homes. Join our panel of experts for a discussion of the possibilities for mortgage principal reduction and the possible benefits of such reductions for the economy and homeowners. Over $1 trillion in negative equity is creating a major drag on the recovery of both the housing market and the broader economy.
PANEL PARTICIPANTS INCLUDE:
John Geanakoplous: James Tobin Professor of Economics, Yale University; Partner at Ellington Capital Management
Steve Meacham Organizing Coordinator, City Life / Vida Urbana
Robert Hockett: Professor of Law, Cornell University; Resident Consultant, Federal Reserve Bank of New York
Mike Konczal: Fellow, the Roosevelt Institute – Paper available here.