EVENTS
Do Money Market Funds Have a Future in the New Financial System?
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Date:
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Tuesday, May 5, 2009
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Time:
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10:00 AM -- 12:00 PM
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Location:
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Wohlstetter Conference Center, Twelfth Floor, AEI 1150 Seventeenth Street, N.W., Washington, D.C. 20036
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Mercer Bullard is an associate professor of law at the University of Mississippi School of Law, where he teaches courses on securities, banking, corporations, corporate finance, and law and economics. He is also the founder and president of Fund Democracy, an advocacy group for mutual fund shareholders, and a senior adviser at the financial planning firm Plancorp. Mr. Bullard has testified before House, Senate, and Departments of Labor and State committees on mutual funds, hedge funds, 529 plans, 401(k) plans, and other regulatory issues. He has written extensively on investment management issues, including a recent article on money market funds. Mr. Bullard was formerly an assistant chief counsel at the Securities and Exchange Commission. He previously clerked for a federal judge and practiced securities law in Washington, D.C., at WilmerHale (formerly Wilmer, Cutler & Pickering).
Eugene F. Maloney is executive vice president, corporate counsel, and a member of the executive committee of Federated Investors. Through Mr. Maloney’s efforts, Federated Investors is responsible for virtually all of the state legislation permitting public entities to use money market funds to manage their liquidity. Mr. Maloney has appeared as a speaker at American Bankers Association gatherings and is a frequent speaker at State Bankers Association meetings. He is an instructor in trust and securities law at Boston University School of Law, has been a visiting instructor at the Federal Financial Institutions Examination Council and the American Bankers Association’s National Graduate Trust School at Northwestern University, and participates in programs leading to the designation of certified trust and financial adviser. Mr. Maloney has also served as an expert witness in both judicial and legislative settings on matters relating to fiduciary compensation, will construction, and prudent investing.
Brian Reid is the chief economist at the Investment Company Institute (ICI), a position he has held since 2005. Mr. Reid also heads the institute’s research department. Since joining ICI in 1996, he has participated in research examining a variety of mutual fund topics, including fees and expenses, trends in the mutual fund market, and shareholder behavior. Prior to joining ICI, Mr. Reid worked as a staff economist at the Monetary Affairs Division of the Federal Reserve Board for seven years.
Vincent R. Reinhart, a resident scholar at AEI, is a former director of the Federal Reserve Board’s Division of Monetary Affairs who has spent more than two decades working on domestic and international aspects of U.S. monetary policy. He held a number of senior positions in the Divisions of Monetary Affairs and International Finance and spent the last six years of his Federal Reserve career as secretary and economist of the Federal Open Market Committee. Mr. Reinhart has worked on topics as varied as economic bubbles and the conduct of monetary policy, auctions of U.S. Treasury securities, alternative strategies for monetary policy, and the efficient communication of monetary policy decisions. Since joining AEI, Mr. Reinhart has published work on international capital flows and has commented in the press on issues including the Federal Reserve, the mortgage system, and the financial crisis.
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies at AEI, where he codirects the Institute’s program on financial market deregulation. He previously practiced banking, corporate, and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. From June 1981 to January 1985, Mr. Wallison was general counsel of the U.S. Treasury Department, where he had a significant role in the development of the Reagan administration’s proposals for deregulation in the financial services industry. He also served as general counsel to the Depository Institutions Deregulation Committee and participated in the Treasury Department’s efforts to deal with the debt held by less-developed countries. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan. Between 1972 and 1976, Mr. Wallison served first as special assistant to Governor Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller when he was vice president of the United States.