Many Americans were surprised and frustrated to discover that Congress and the President approved legislation ensuring that employees in AIG's Financial Products Group received bonuses for work that ultimately contributed to the financial crisis. It was even more of a shock to learn that most elected representatives claimed they didn't understand the legislation that produced that result.

The next big scandal of this magnitude may come from the Helping Families Save Their Homes Act that recently passed the House and is under consideration in the Senate. The legislation contains a little-known provision that modifies investor contracts in favor of servicers to provide a "safe harbor" for loan modifications. This has the potential to produce a huge windfall for those who had a hand in causing the credit crisis in the first place. Among the questions that will be posed:

Will this legislation allow certain servicers to escape the consequences of their misrepresentations in making and selling loans?
Will it absolve borrowers who commit fraud in obtaining a mortgage modification?
Will it turn the priority of liens on its head, at the expense of pension funds, 401k's, endowments, and other investors?
How may it harm borrowers by decreasing low interest debt while leaving high interest debt unchanged?

Talcott J. Franklin, co-author of Mortgage and Asset Backed Securities Litigation Handbook and the Emergency Economic Stabilization Act Handbook, explores these and other issues with a panel of experts including:

Aline van Duyn, US Markets Editor, Financial Times
Eric J. Brenner, Partner, Boies, Schiller & Flexner LLP
Micah S. Green, partner, Patton Boggs LLP, and former President and CEO of The Bond Market Association
Hamish P. M. Hume, Partner, Boies, Schiller & Flexner LLP
Katherine M. Porter, Associate Professor, The University of Iowa College of Law


Practice Areas:		Antitrust & Trade Regulation, Banking & Finance Law, Corporate & Securities, Securities & SEC Regulation

Online Media Type:		Audio

Production Date:		05/01/2009

Level:		Intermediate

Category:		Standard

Duration:		1 Hours, 11 Minutes

Online Format:		On Demand

Course Type:		Public

Click here for information on subscription discounts and Group Viewing opportunities.

Purchase of this product provides online access for 180 days. If you are purchasing a live webcast, you will receive complimentary access to the on demand version for 180 days once it becomes available. Please note that the on demand and podcast versions may, or may not be accredited in your state.

If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance. Credit totals for other formats are for complete programs. Partial credit is not available for any online or downloadable format.

West LegalEdcenter will not provide accreditation for states not listed.

CLE Scholarship information
Tuition Assistance for legal professionals taking our programs. Learn more about the program.

This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing west.wlec-sales@thomson.com.

People who bought this program also bought:

There are no current recommendations

E-mail a colleague about this program.

Credit Eligibility:

Click on the jurisdiction to view credit eligibility details for this program

IMPORTANT!
This program is:

NOT AVAILABLE
FOR CLE CREDIT

If you complete this
program, a generic
completion certificate
will be provided
in your profile.

Request credits for a state not listed.

Check your state requirements and get contact information.

Speakers:

•	Hamish Hume - Partner, Boies, Schiller & Flexner LLP
•	Katherine Porter - Associate Professor, The University of Iowa College of Law; Iowa City, IA
•	Kate K. Moseley - Partner, Patton Boggs LLP, Dallas, TX
•	Gregory V. Johnson - Partner, Patton Boggs LLP, Denver, CO
•	Talcott J. Franklin - Partner, Patton Boggs LLP, Dallas, TX; Co-Author, Mortgage and Asset Backed Securities Litigation (West, April 15, 2008)
•	Eric Brenner - Partner, Boies, Schiller & Flexner LLP
•	Aline van Duyn - US Markets Editor, Financial Times


	This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.