So, what really caused the 2008 crisis: the failure of capitalism, socialism, too much regulation, too little regulation, Wall Street greed, fraud, corruption, cronyism, stupidity? Or all of the above?

Guest, Representative Jeb Hensarling comments,

“We suffered from dumb regulations and regulators, and Fannie Mae and Freddie Mac who practiced capitalism on the way up and socialism on the way down. All with the faith and backing and credit of the U.S. taxpayer. We had a whole set of policies that incented, cajoled, mandated, suggested, financial institutions loan money to people to buy homes they could not afford to keep.

We cannot intellectually make a case that there was any lack of regulatory authority to have prevented a crisis”.

Some 9 years after the financial crisis, the jury is still out on the causes of the crisis. As a result of previous financial debacles we asked for and got more regulations such as the Dodd Frank Act, which caused a slow recovery and actually suppressed financial activity.

Our experts agree that continuing to talk about the issues and causes are important to prevent a future crisis. Yet, without major changes in our systems, regulations and government policies we’ll continue to repeat the same mistakes.

Left to Right: Peter J. Wallison, George A. Selgin, PhD

Joining host, Dennis McCuistion, are:

  • Peter J. Wallison: Arthur F. Burns Fellow, Financial Policy Studies, American Enterprise Institute, member of the Financial Crisis Inquiry Commission and author of, Hidden in Plain Sight
  • George. A. Selgin, Ph.D: Director of the Cato Institute’s Center for Monetary and Financial Alternatives; Professor Emeritus of Economics at the University of Georgia,
  • and by prior taped interview, Representative Jeb Hensarling: (R TX) Chairman of the House Financial Services Committee.

Our experts talk about the subprime mortgage situation and how Fannie and Freddie were huge contributors in encouraging affordable housing by allowing 3% and 0% down for down payments. However, many, in fact a majority of mortgages on Fannie and Freddie’s books were weak and subprime.

Dennis with Audience Members

The Federal Reserve comes in for its share of responsibility or lack thereof. The Fed’s job, to assure the problem did not turn into a deeper issue, yet it botched that and taxpayers paid for it.

In September of 1999, Peter Wallison said, “If they [Fannie and Freddie] fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.” Prescient?

In 2002, Congressman Barney Frank said, “I do not regard Fannie and Freddie as problems. I regard them as assets.” After the Freddie Mac accounting scandal, the Congressman then said, “I do not think we are facing any kind of crisis.”

As long as we continue and government continues to deny responsibility or fails to examine cause, these issues will persist.

Join us as we talk about things that matter… with people who care. And please don’t forget that for the last 28 years it is you, our viewer, who keeps us on the air.

The McCuistion Program, a 501 ( C ) ( 3 ) tax exempt organization does not receive any KERA pledge dollars, PBS funds or government grants, so thank you for your continued support. And special thanks to the Hatton B. Sutton Foundation.

Thanks for joining us,

Niki McCuistion
Co-Founder, Executive Producer, Producer
Business Consultant / Executive Coach, specializing in Organizational Culture Change, Governance and Strategic Planning
214-750-5157
www.nikimccuistion.com
nikin@nikimccuistion.com

Two years ago, Ross Ulbricht, “Dread Pirate Roberts, the creator of Silk Road, was sentenced to life in prison without parole for creating and running the Silk Road, a massive dark web drug market.

Since this program was taped, an appellate court denied an application from his legal team. Ross has received two life sentences without parole. This last weekend I interviewed Lyn Ulbricht, who is actively campaigning for a “fair” trial and his release and Terry Brock, CPAE, international management consultant and advocate of free enterprise, who spearheaded the highly successful Rossathon, which raised money for Ross’ defense.

Watch what they have to say…

Silk Road quickly became a financial phenomenon, supposedly earning $100 million in sales its first year. Ross believed that drugs sold legally can save lives.

Joining host Dennis McCuistion to talk about Ross, Silk Road and what led to a lifetime imprisonment sentence are:

Ross’ case some say will impact first and fourth amendment protection as well as Internet freedom and privacy. It brings attention to Block chain technology, as Bitcoin was used for purchases. And it focuses attention on the war on drugs and drug prohibition policies, which our experts claim has failed and failed miserably.

What is the truth behind Silk Road? Was it a marketplace for buying drugs safely, or is there more to this story? And how did a marketplace like this lead to its founder receiving such a harsh prison sentence?

Since our taping of this program, Ross’ appeal was lost. “Ross Ulbricht was sentenced to life in prison without the possibility of parole for his role in creating and running Silk Road’s billion-dollar, anonymous black market for drugs. Judge Katherine Forrest gave Ulbricht the most severe sentence possible, beyond what even the prosecution had explicitly requested.

The three-judge appellate panel nonetheless affirmed the decision of the lower court-albeit with notes of muted criticism of American drug laws.

“Reasonable people may and do disagree about the social utility of harsh sentences for the distribution of controlled substances, or even of criminal prohibition of their sale and use at all, “the appellate court’s opinion reads. “It is very possible that, at some future point, we will come to regard these policies as tragic mistakes and adopt less punitive and more effective methods of reducing the incidence and costs of drug use.”

“At this point in our history, however, the democratically-elected representatives of the people have opted for a policy of prohibition, backed by severe punishment,” the judges writes.

And once again we are honored to be underwritten by The Hatton W. Sumner’s Foundation, Inc.
The McCuistion Program, a 501 ( C ) ( 3 ) tax exempt organization does not receive any KERA pledge dollars, PBS funds or government grants. The funding which has kept us on the air for 28 years comes from grantors and viewers just like you. So thank you for your continued support.

Be sure to watch more McCuistion TV programs on our website www.McCuistionTV.com.

Thanks for joining us,

Niki McCuistion
Co-Founder, Executive Producer, Producer
Business Consultant / Executive Coach, specializing in Organizational Culture Change, Governance and Strategic Planning
214-750-5157
www.nikimccuistion.com
nikin@nikimccuistion.com

Many decisions made in a boardroom rely on relationships and diversity of opinions and experience, skill and style. Diversity today is more than diversity in gender and ethnicity.

Joining host Dennis McCuistion to talk about the critical role diversity and relationships play in good governance are:

  • Deborah L. DeHaas, Vice Chair and Chief Inclusion Officer, Managing Partner; Center for Board Effectiveness, Deloitte and
  • Billie Ida Williamson, Forrester and Company. Our expert’s state, an inclusive environment increases a board’s effectiveness.

Left to Right: Dennis McCuistion, Deborah L. DeHaas, and Billie Ida Williamson

Diversity is also about the asking of good questions. Yet, if everyone on a board looks the same, are of a certain age, have the same work/professional experience and education, the variety of answers needed for good decision making is missing.

With diverse experience, cultures, and industry knowledge people have different viewpoints from which to address what really matters regarding a company’s wellbeing. Age diversity is also a factor. The average director’s age at most big U.S. companies is 63 plus. With technology at the hub of most businesses generational diversity, having younger board members who understand technological change is critical.

Global economies need to be innovative, with constant thought applied to what the customer wants, what could disrupt the business, cyber security risks, competition; the list is endless. The business world today is especially fraught with change and uncertainty. Diversity contributes to overall good corporate governance, where the company has the people, processes, resources, and culture to enable a thoughtful, proactive focus on strategy, customers, operations, and risk and thus maximize the opportunity for all stakeholder groups.

And once again we are honored to be underwritten by The Hatton W. Sumner’s Foundation, Inc.
The McCuistion Program, a 501 ( C ) ( 3 ) tax exempt organization does not receive any KERA pledge dollars, PBS funds or government grants. The funding which has kept us on the air for 28 years comes from grantors and viewers just like you. So thank you for your continued support.

Be sure to watch more McCuistion TV programs on our website www.McCuistionTV.com.

Thanks for joining us,
Niki McCuistion
Co-Founder, Executive Producer, Producer
Business Consultant / Executive Coach, specializing in Organizational Culture Change, Governance and Strategic Planning
214-750-5157
www.nikimccuistion.com
nikin@nikimccuistion.com

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2406 – 07.09.17