Financial Crisis Caused by Government Policy, says BB&T's Chairman John
Allison in a Talk Sponsored by the Ayn Rand Center for Individual Rights
WASHINGTON, Jan. 22 /PRNewswire-USNewswire/ -- The following is being released
by the Ayn Rand Center for Individual Rights:
The media, politicians, and even many businessmen have blamed today's
financial meltdown on capitalism. But in this talk, John Allison -- the
longest-tenured CEO of a top-25 financial services company -- will argue that
this crisis is a legacy of the government's anti-capitalist policies.
Mr. Allison will use his unique inside view of the financial services industry
to show how massive government intervention into the U.S. economy -- from the
creation of the Federal Reserve in 1913 to a reckless crusade to encourage
home-ownership -- laid the groundwork for an unsustainable real estate boom.
And he will show how the government's response to the inevitable bust -- a
frenzied series of bailouts, nationalizations, and "stimulus" efforts -- is
only making things worse.
Finally, Mr. Allison will explain the underlying philosophical reasons for the
crisis and discuss the immediate and long-term solutions. He will show that
capitalism, far from being the cause of today's crisis, is its only cure.
John Allison is chairman of the board of BB&T Corporation. He began his
service with BB&T in 1971, became president in 1987 and was elected chairman
and CEO in 1989 (serving as CEO until the end of 2008). During Mr. Allison's
tenure, BB&T has grown from $4.5 billion to $137 billion in assets.
Location and Details:
National Building Museum, Great Hall, 401 F St., NW
Washington, D.C. 20001
Red Line Metro, Judiciary Square
Thursday, January 29, 2009
Doors open: 6 pm
Lecture and Q&A: 6:30 pm
Contact:
Kurt Kramer, 202-609-7470 (9 am to 5 pm, Eastern time)
media@aynrandcenter.org
Ayn Rand Center for Individual Rights
Washington, D.C.
SOURCE Ayn Rand Center for Individual Rights
Kurt Kramer of Ayn Rand Center for Individual Rights, +1-202-609-7470,
media@aynrandcenter.org
