Events Archive

October 23, 2008
Roundtable Discussion
The Economic Crisis and the Emergency Economic Stabilization Act of 2008

Speaker: Faculty from Indiana University School of Law - Indianapolis
Time: 4:00 pm - 5:30 pm
Location: Wynne Courtroom
Contact: Contact Professor Max Huffman for more information:

October 23, 2008 * 4-5:30 p.m.
Wynne Courtroom


Foreclosures rise. The stock market plummets. Credit markets freeze. Huge companies go bankrupt or are effectively nationalized. Former Federal Reserve chief Alan Greenspan says we’re in a “once-in-a-century” financial crisis. Politicians and pundits predict a depression.

Economic problems tracing their roots to a crisis in the financial markets in the U.S. and worldwide have become a foremost concern for individual members of the public; their representatives in government at all levels and in all jurisdictions; corporate entities and financial institutions; and professionals charged by their clients with advising on the crisis. One salutary phenomenon of the economic crisis is the unparalleled degree to which the public has sought to grasp the intricacies of the causes and likely impacts of the crisis. But the subject matter is exceedingly complex and much of the information available is shallow, incomplete and/or inaccurate. A non-exhaustive list of the problems to be understood begins with the functioning of the securities markets and the manner in which in recent weeks those markets have produced a downward spiral across wide swaths of the U.S. economy. Underlying those issues are the lending, loan guarantee, and securitization practices that created the assets underlying devalued financial instruments. A still stronger lens shows practices of disclosure and deception on the part of loan originators, and irrational optimism and irresponsible borrowing by borrowers, and the regulatory failings that have permitted bad loans to be created and widespread defaults to occur. Then there are questions of the impacts of the crisis. One, already beginning to be felt, is the freezing up of credit markets. The shortage of credit impacts, among others, state and local governments dependent on issuing debt instruments to finance their activities.

Members of the faculty of law at the IU School of Law – Indianapolis will gather to discuss their analyses of those issues and to answer questions in a roundtable discussion format.


  • Cynthia A. Baker, Clinical Associate Professor of Law and Director, Program on Law and State Government
  • Nicholas L. Georgakopoulos, Harold R. Woodard Professor of Law
  • Max Huffman, Associate Professor of Law
  • Antony Page, Associate Professor of Law and Dean’s Fellow
  • Lloyd T. Wilson, Jr., Professor of Law and Chair-Elect, AALS Section on Real Estate Transactions


  1. Opening Remarks and Panelist Introductions
  2. Remarks:
    • Professor Page: From mortgage crisis to financial meltdown
    • Professor Wilson: Understanding the mortgage crisis
    • Professor Huffman: Consumer credit ramifications
    • Professor Baker: Impacts on state and local government finance
    • Professor Georgakopoulos: From financial crisis to . . . (Great Depression?)
  3. Discussion and audience questions (facilitated by a moderator)

Administrative Matters:

Parking is available for a fee in the Sports Garage two blocks west of the law school off New York Street.

CLE Credit: Applications for CLE credit will be made available at the event. Due to the short time available for preparation, advance approval has not been possible. Application for credit will be the responsibility of each attendee.

Media inquiries: Members of the media are encouraged to contact Jonna MacDougall, Assistant Dean for Institutional Advancement, at (317) 274-1908 with any inquiries.