Gross by niusheng11

VIEWS: 20 PAGES: 4

									 Accessing Capital and Funding
Through Government Partnerships

         Wayne R. Gross
               Partner
         Snell & Wilmer LLP
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

								
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