Dr. Daniel Kaufmann to Lead FinReg21.com Webinar on the How Regulators Contributed to the Financial Crisis

Brookings Institution Senior Fellow and Former World Bank Institute Director
Argues That the "Capture" of Regulators by Industry and Money in Politics Helped
Caused the Financial Crisis
BOSTON--(Business Wire)--
FinReg21.com, a newly launched online resource of commentary and news on
financial regulatory reform, today said it will host a live webinar on May 28th
featuring Dr. Daniel Kaufmann. In the online forum, Dr. Kaufmann will discuss
the role of regulatory capture-when regulators start serving the industry rather
than consumers-money in politics, and corruption in the financial crisis.

"Depending whom we listen to, we hear that either it was either Wall Street
greed, excessive leverage, CEO ignorance or simply incapable government what
caused the financial crisis, but each one of these explanations is partial and
superficial," said Daniel Kaufmann. "By contrast, more fundamental factors have
been under-emphasized, including not only global macro-economic imbalances, but
the serious failures in governance: the capture of state institutions, `legal
corruption`, and money in politics. Understanding these governance failings is
key for how to move forward and implement `market-friendly` regulatory reforms."

Daniel Kaufmann is a Senior Fellow at the Brookings Institution, where he writes
about governance challenges around the world, including in the Americas. While
Director of the World Bank Institute he lead its work on governance and
anti-corruption and pioneered the measurement of worldwide governance. Regarded
as a world expert, he has written extensively on governance, corruption and
investment climate, has advised countries on strategies, and blogs about these
topics.

The webinar will feature remarks by Dr. Kaufmann, and a Q&A session where
attendee questions are addressed. The discussion will center on the role of
perverse regulatory incentives in causing the financial crisis and how
regulatory reform should account for this.

"Dr. Kaufmann brings a wealth of international experience to the difficult topic
of regulatory performance. He reminds us that having the right incentives are
just as important for financial regulators as for financial executives," said
David S. Evans, noted economist, a FinReg21.com founder and the site`s
Editor-in-Chief. "The webinar will be an opportunity to explore the ideas put
forth in his book for easing and ending the crisis."

The upcoming webinar is one in a series of online forums to take place regularly
on FinReg21.com. FinReg21.com encompasses original content, news, legislative
tracking, and other resources on financial regulatory reform. Its goal is to
pull together a community of people globally who are working on or are affected
by financial services reform, including officials working in the banking,
insurance, securities, and payments industries. Wayne Abernathy, Executive
Director of the American Bankers Association will feature in an upcoming
FinReg21 seminar.

Media can subscribe for regular e-mail editorial update alerts from FinReg21.com
by visiting http://www.finreg21.com/.

Dr. Daniel Kaufmann
Webinar Details:
From Regulatory Capture to "Market-Friendly" Regulatory Reform
Thursday, May 28, 3 pm EDT

To register for the event, visit
http://www.finreg21.com/channel-21/pundit-pit#Web.

The webinar will be available for viewing on FinReg21.com after the live
broadcast.

For more information about the webinar, visit
http://www.finreg21.com/channel-21/interviews/how-government-caused-prolonged-and-worsened-financial-crisis-and-implications.

About FinReg21.com:

FinReg21.com is the only online community dedicated to the future of financial
services regulation and reform that captures the collective wisdom of the
world`s leading industry practitioners, regulators, policy makers, and scholars.
Provocative and cutting edge views are presented in an environment that supports
the mutual exchange of ideas via live webinars, expert blogs and podcasts.
Lombard Street, FinReg21.com`s twice-monthly e-journal, documents critical
thinking from experts who are at the heart of shaping and implementing reform.
Original reporting, real-time legislative tracking (coming soon) and breaking
news round out FinReg21.com`s unique mix in the critical debate over regulatory
reform in the 21st century. For more information visit http://www.finreg21.com/.

For FinReg21.com
Elisabeth Hershman, 212-289-6734
ehershman@vpgllp.com

Copyright Business Wire 2009