Santa Clara University Law Professors to Address Origins and Consumer Impact of the $700 Billion Bailout Tuesday, Sept. 30

Business Wire, Sept 29, 2008

SANTA CLARA, Calif. -- Two Santa Clara Law Professors will address students and faculty to help explain the origins and consumer impacts of the $700 billion economic bailout under discussion in Congress right now. Media are invited to attend.

Who: Corporate-Finance Law Professor Steve Diamond and Consumer Law Professor Gary Neustadter

What: Discussing the "anatomy of a meltdown" in the U.S. economy.

When: Noon to 1 p.m., Room 137 of Bannan Hall, Santa Clara University, 500 El Camino Real, Santa Clara, Calif., 95053

(Logistics note: Bannan Hall is a different building than the Bannan Engineering Labs. Bannan Hall is located on Palm Drive across from the Arts and Science Building.)

Specifics: Prof. Neustadter will discuss the consumer-protection aspects of the proposed bailout, including what Congress has NOT, thus far, included in the bailout: a change in the bankruptcy code to allow distressed homeowners to alter their loans.

The argument, Neustadter notes, is that "financial institutions are getting bailed out from their bad decisions, but the people who are losing their homes aren't."

Prof. Diamond will discuss the origins of the crisis, including some of the regulatory and legal issues that may have given rise to the problem, as well as the proposed Paulson solution.

Interested media can contact Deborah Lohse of SCU Media Relations at (408) 554-5121.