UPCOMING EVENT: The Great Credit Squeeze: How It Happened, How to Prevent Another

Reuters/Rebecca Cook - An auction lawn sign points to a foreclosed property to be auctioned off in Detroit
Friday, May 16, 2008
10:00 AM to 12:00 PM
Washington, DC
How could America's sophisticated financial system go so wrong and cause so much damage? Martin Baily, Douglas Elmendorf and Robert Litan answer that question in a new paper to be released at a May 16 forum. The authors, following opening remarks by FDIC Chairman Sheila Bair, will put forward a specific agenda of policy actions to reduce the chance that history repeats itself.
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Financial Services, Fiscal Policy, U.S. Economy, Financial Institutions, Financial Markets
SPOTLIGHT: Macroeconomics

REUTERS/Hector Mata - Demonstrators hold signs in front of the Federal Reserve Bank in Los Angeles
Douglas W. Elmendorf, May 14, 2008
Even though billions of dollars of mortgage-related loses have yet to be declared, Doug Elemendorf offered Joint Economic Committee members four principles to guide reform of the troubled financial system. His diagnosis and prescriptions are based on a new Brookings report to be released Friday.
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Macroeconomics, Financial Services, Mortgage Market, Federal Reserve, Financial Institutions
SPOTLIGHT: Welfare

Reuters/Carlos Barria - A mother and her son travel on a bus in Montgomery, Alabama
Rebecca M. Blank and Brian Kovak, May 2008
There are a growing number of low-income single mothers who are long-term welfare recipients or are without steady employment. They tend to face more barriers to stable employment, with less education, younger children, higher rates of mental and physical health problems and substance abuse, and a history of domestic violence. This brief proposes a new program to link these mothers to medical and economic supports and give them greater assistance in securing employment.
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Welfare, U.S. Poverty, Unemployment, Children & Families, Working Poor