The Great Recession: Your Questions Answered at This Year’s Economic Summit

Posted on Apr 24 by SEASONS Magazine

We all remember 2008: banks failing, stock prices falling and wide-spread panic stretching across the U.S. Chances are you or someone you know has been greatly affected by what is called “the worst economic downturn since the Great Depression.” In the midst of all this chaos, several questions may have come to mind: How will this affect me? What does this mean for the future of our national and global economies? Why did the government choose to grant a $700 billion bailout to banks, firms and automakers rather than to its own citizens?

If any of this sounds familiar, then you won’t want to miss the captivating and insightful discussions at the 32nd Annual Santa Barbara County Economic Summit. Presented by UCSB Economic Forecast Project and UCSB Arts & Lectures, the event will take place at The Granada Theatre on Thursday, May 2, from 8:30–11:30 a.m.

Courtesy of UCSB Arts & Lectures

Courtesy of UCSB Arts & Lectures

The Summit will feature keynote speaker Neil Barofsky, the first special inspector general of the Troubled Asset Relief Program (TARP). Barofsky’s discussion will be based on his book, Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street, and will focus on the behind-the-scenes action related to the controversial $700 billion federal bailout. Following him will be Thomas Cooley, the Paganelli-Bull Professor of Economics at NYU Stern School of Business. Cooley will address the ongoing debt crisis within the European nations and will be followed by Douglas Elliott, a financial expert and fellow at The Brookings Institution. Third-time presenter Peter Rupert will conclude the summit with an in-depth look at local, regional and household business and industry trends. Economics professor, chair of the Department of Economics and a former senior research adviser at the Federal Reserve Bank of Cleveland, Rupert is an expert of macroeconomics, monetary economics, labor and family economics. He will also present the Santa Barbara Economic Forecast Report and will moderate a panel discussion with the speakers following the presentations.

Whether you’re up-to-date on current events or have no economic background whatsoever, the Summit is open to everyone. Don’t miss out on this exciting opportunity to learn first-hand about one of our country’s most pivotal moments. After all, it will probably affect you! Tickets includes admission, continental breakfast at 7:30 a.m. and a copy of the 2013 Santa Barbara County Economic Outlook report.

To learn more about the summit or to purchase tickets, call UCSB Arts & Lectures at 805/893-3535 or click here. Tickets can also be purchased through The Granada Theatre at 805/899-2222 or by clicking here. To see a list of this year’s sponsors, click here.

-Ashley Somerfeld


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