On September 20, 2008, the subprime mortgage crisis caused the Dow Jones Industrial Average to plummet 777.68 points, more than any single day in history. The effect was global, and many middle-class Americans found themselves out of work, dealing with underwater mortgages, and unable to make ends meet.
Drawing on key findings from the upcoming Allstate/National Journal Heartland Monitor Poll, this briefing will explore how connected Americans are to the financial system five years after the crash. National Journal and The Atlantic will gather experts to take a comprehensive look at this country's level of trust in the financial system's key players and Americans' beliefs about what the fiscal policy debates in Washington mean for their own personal bottom line.
Sheila C. Bair served as the 19th Chairman of the Federal Deposit Insurance Corporation for a five-year term, from June 2006 through July 2011.
Chairman Bair has an extensive background in banking and finance in a career that has taken her from Capitol Hill, to academia, to the highest levels of government. Before joining the FDIC in 2006, she was the Dean’s Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst since 2002.
Eleanor Blayney, CFP® is CFP Board’s Consumer Advocate. A financial planning practitioner for more than 20 years, Eleanor has seen it all. As Consumer Advocate, Eleanor works to educate the public on making smart financial moves and the value of financial planning. Frequently quoted by the national media and a sought-after speaker, Eleanor provides a healthy dose of wit and wisdom for those looking to improve their financial lives through the power of planning. Recognized as one of the pioneers in the profession, Eleanor also helped to shape the Financial Planning Practice Standards that guide the work of the more than 67,000 CFP® professionals across the U.S.
Eleanor strongly believes that families of all income levels should have access to professional financial planning assistance and that the financial world is too complex to shoulder alone. She makes financially complex ideas and strategies accessible and understandable. And she understands the critical importance of enforceable ethical standards to foster the trust needed to provide financial advice.
Ronald Brownstein, a two-time finalist for the Pulitzer Prize for his coverage of presidential campaigns, is Atlantic Media's Editorial Director for Strategic Partnerships, in charge of long-term editorial strategy. He also writes a weekly column and regularly contributes other pieces for the National Journal, contributes to Quartz, and The Atlantic, and coordinates political coverage and activities across publications produced by Atlantic Media.
Nancy Cook covers economic and domestic policy for National Journal and also serves as the lead writer for Next Economy, a joint project of the National Journal and The Atlantic. Prior to this, she covered economic and fiscal policy for National Journal for more than two years, leading the policy coverage of all of D.C.'s major budget battles. She's also worked as a senior editor at Fast Company and a staff writer at Newsweek, based in New York.
Mary Dupont is Director of Financial Empowerment for the State of Delaware.
Dr. Mathew Greenwald is a leading financial and research expert and an elected member of the Market Research Council. Dr. Greenwald has more than 30 years of market research experience. He founded the firm after eight years as the Director of Social Research at the American Council of Life Insurers.
A recognized expert on opinion research, Dr. Greenwald is frequently asked to speak at forums, conferences and seminars sponsored by a wide variety of organizations. Matt has testified before Congress regarding retirement attitudes and has written many articles concerning the financial services industry, demographic changes, consumer attitudes and behavior, the Baby Boom and Baby Bust generations, and the values and lifestyles of the American public. Matt is an inductee in the National Association of Variable Annuities (NAVA) Hall of Fame, has testified before the Senate Committee on Aging, and served as a Congressionally-appointed delegate to the 1998 and 2002 National Summits on Retirement Savings.
Heidi Shierholz joined the Economic Policy Institute in 2007. Her areas of research include trends in employment, unemployment, and compensation, income and wealth inequality, the low-wage labor market, the minimum wage, and the gender wage gap. Shierholz is a frequent contributor to broadcast and radio news outlets, including: ABC, CBS, CNN and NPR, and is regularly quoted in print and online media outlets, including the New York Times, Washington Post and the Huffington Post. She has repeatedly been called to testify in Congress on labor market issues. She is also a member of the board of directors of the DC Employment Justice Center. She previously worked as an Assistant Professor of Economics at the University of Toronto.
Former FDIC Chairperson Sheila Bair and editorial director of the National Journal Ronald Brownstein discuss the diverging trend of cynicism in the job market between college educated and working class Americans found in the Heartland Monitor Poll.