Betsy Speicher

John Allison on the Financial Crisis

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ARC Events - ARC Lecture Series

Thursday, January 29, 2009

The Financial Crisis: Causes and Possible Cures

By John Allison

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 [map]

401 F St NW

Washington, DC 20001

Red Line Metro, Judiciary Square

Doors open: 6 PM

Lecture and Q & A: 6:30 PM

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