The 21st century has seen more than its share of bank crises. In this presentation, Rebel Cole, Ph.D. will explore the origins and repercussions of two of the most consequential banking crises affecting the U.S.: the global financial crisis that began with the failure of Lehman Brothers investment bank in 2008 and persisted for several years; and the more recent banking crisis that started with the sudden failure of Silicon Valley Bank on Mar. 10, 2023, and is ongoing. First, Cole will examine how a bubble in the housing market spread to the financial markets as housing prices collapsed during 2007-2008, primarily the role of structured financial products, including collateralized debt obligations (CDOs) and credit default swaps (CDSs). He will then explain how monetary and fiscal policies during and after the COVID-19 pandemic led to the failure of Silicon Valley Bank and Signature Bank of New York and threatened the viability of hundreds of other banks, including the role of “interest-rate risk.” A Q&A session will follow this valuable program.
Time:12:30 PM - 2:00 PM
Date:Monday, November 13
Location:Friedberg Auditorium, Lifelong Learning Building
Fees:Member - $30 $100 for any combination of four events, members only Non-member - $35 One-time guest pass, Member or Non-member at the door - $35.
About the Instructor
Rebel A. Cole is the Lynn Eminent Scholar Chaired Professor of Finance in the College of Business at Florida Atlantic University in Boca Raton, FL. He joined the College of Business at FAU in 2016 after more than a decade teaching at DePaul University in Chicago. Rebel received his PhD in Business Administration from the University of North Carolina at Chapel Hill in 1988, after which he spent ten years working as a financial economist in the Federal Reserve System. After leaving the Fed, Rebel has served as a special advisor to the Asian Development Bank, the International Monetary Fund, the World Bank and other non-governmental organizations, providing training and technical assistance to central banks around the world in more than 60 countries. Rebel has published peer-reviewed articles in many of the top academic finance journals including The Journal of Finance, the Journal of Financial Economics, and the Journal of Financial & Quantitative Analysis, and his research has been featured in Business Week, the Financial Times, Fortune, The New York Times and the Wall Street Journal. According to Google Scholar, his articles have been cited more than 12,500 times. His primary areas of research are commercial real estate, corporate governance, entrepreneurship, and financial institutions.