Overview:
The European financial crisis following closely behind the US credit crisis is a one-two punch that threatens to take down western economic systems. But what went wrong? This webcast explores this question and examines the accounting and reporting implications including:
- The far-reaching economic consequences if Greece, Italy or other nations withdraw from the euro
- How this crisis could trigger another international credit crisis
- Similarities and differences with the US credit crisis
- Its current and future impact on the US economy and multinational corporations
Objective:
To provide financial professionals with a better understanding of the players and issues behind the European financial crisis and the US credit crisis. You will uncover the causes of these crises and the ramifications for the US, European and global economies.
Emphasis:
- What triggered the latest crisis?
- Will Greece or other nations default?
- The golden touchstone—capital adequacy
- The sovereign debt crisis and the private sector credit crunch
- The possible breakup of the euro and its consequences
- Will this set off an international credit crisis?
- Brief anatomy of the US credit crisis
- The Community Reinvestment Act—sub-prime mortgages mushroom
- The role of Fannie Mae and Freddie Mac
- Where were the regulators?
- Securitization and sub-prime mortgages: a financier's delight
- The Credit Default Swap (CDS) casino
- Will "The Carry Trade" re-emerge?
- Two governments respond: both inadequate
- Grading the FASB: relevant pronouncements
