Laurence Kotlikoff, Proff of Economics at Boston University "The Future of Banking"
Tuesday 30th June 8:15am, Knightsbridge

Breakfast with Professor Laurence Kotlikoff, Professor of Economics at Boston University, in association with our partners at Policy Exchange

Tuesday 30 June, 8.15am

"The future of banking: two tiers or smaller banks?"

"Glass" and "Steagall" are the magic words conjured up by many who feel that universal banking was the cause of the banking crisis. But is it preferable, not to mention practicable, to split investment banking and retail banking activities - the ’utilities’ and the ’casinos’ - in the 21^st Century? Many more banks failed after it was implemented in the early 1930s due to a concentration of risks. Issues of competition, risk diversification, and moral hazard must all be discussed as we determine the future of the banking system.

Professor Laurence J. Kotlikoff will present his case for Limited Purpose Banking, which has been published in many journals and newspapers worldwide. To respond, we will have a senior banker (TBC) to present their view on how the current universal banking system will endure.  Laurence Kotlikoffis currentlyProfessor of Economics at Boston University, and a Research Associate ofthe National Bureau of Economic Research. As part of his long and very distinguished career, Prof. Kotlikoff served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981 he was made a Senior Economist with the President’s Council of Economic Advisers. He has also served in various capacities in the US Departments of Education and Labor, the Office of Management and the Budget and the Joint Tax Committee.  He has also served as a consultant to the International Monetary Fund and the World Bank.

He has advised numerous government bodies including the Finance Ministries of Sweden, Norway and New Zealand. In addition to working with the Bank of England he has also been asked to advise the Central Banks of Italy and Japan. He has also acted as an Economic Advisor to the Governments of Russia, the Ukraine, Bolivia and Bulgaria.

He has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the House Ways and Means Committee, and the Joint Economic Committee. Professor Kotlikoff is author or co-author of 13 books and hundreds of professional journal articles. His most recent book, co-authored with Scott Burns, is forthcoming and entitled Spend ’Til the End.

www.policyexchange.org.uk

RSVP to Kate Lewis if you are interested in attending.

kl@picapital.co.uk

( 020 7529 5664