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.