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UMBC and the Federal Reserve Bank of Richmond present

Beyond the Housing Crisis:
Understanding the Increasing Impact of the Subprime Mortgage Meltdown
on the U.S. Economy


April 28, 2008
5:30 – 7:00 p.m.
Engineering Building, Lecture Hall 5, UMBC Campus
Press Release

As Congress, the Fed and states grapple with the troubled housing market and fallout on Wall Street, economic turmoil triggered by defaults in subprime mortgages continues to spread throughout the U.S. economy.

Join us for a panel discussion with experts explaining how the mortgage crisis has spilled into the financial sector and shaken everything from local neighborhoods to the U.S. and global economy.

John Jeffries, Dean, College of Arts, Humanities, and Social Sciences, UMBC

Marc Steiner, President of the Center for Emerging Media

Bob Carpenter, UMBC Department of Economics,
Senior Financial Economist, Federal Reserve Bank of Richmond

Dale T. Klein, Senior Financial Analyst, Federal Reserve Bank of Richmond

Breck Robinson, University of Delaware School of Urban Affairs and Public Policy
Visiting scholar, Federal Reserve Bank of Richmond

Thomas E. Perez
Secretary, Maryland Department of Labor, Licensing and Regulation

Join us for a reception immediately following the forum!

Sponsored by the UMBC Departments of Economics and Public Policy, the Maryland Institute for Policy Analysis & Research and the Federal Reserve Bank of Richmond

UMBC is located right off I-95 near
BWI Thurgood Marshall Airport
Directions and parking
For more information, call 410-455-2160, or e-mail

Federal Reserve Bank logo

Speaker bios

Robert E. Carpenter is an Associate Professor of Economics, a Faculty Associate for the Maryland Institute for Policy Analysis and Research (MIPAR) at UMBC, and a Senior Financial Economist for the Federal Reserve Bank of Richmond. Carpenter’s research for the Fed focuses on securitization, structured finance products and markets, and emerging supervisory issues affecting the safety and soundness of financial institutions and markets. Carpenter is author of The Concerned Citizen’s Guide to Slot Machine Gambling and Horse Racing in Maryland. His research has appeared in the Economic Journal, the Journal of Banking and Finance, the Journal of Money, Credit, and Banking, and the Review of Economics and Statistics, among others. Carpenter received his Ph.D. and M.A. in economics from Washington University, and a B.A. in economics from the University of Michigan-Flint.

Dale T. Klein is a Senior Financial Analyst in the Banking Analytics and Supervisory Studies group at the Federal Reserve Bank of Richmond. Klein is an expert on financial trends in the housing and commercial real estate markets. Klein joined the Federal Reserve Bank of Chicago in 1998 and has been with the Richmond Reserve Bank since January 2007.  Klein advises the Bank's senior management on policy matters involving banking legislation, enterprise-wide risk management, economic capital and the New Basel Capital Accord, which are international guidelines banking regulators use to determine how much capital banks need to put aside to guard against financial and operational risks.  Prior to Federal Reserve employment, Klein worked on the staff of Congressman James A. Leach. Klein earned his Bachelor of Business Administration Degree in Finance from Iowa State University and an MBA with a concentration in Finance from the University of Iowa.    

Thomas E. Perez is a nationally recognized consumer advocate and civil rights lawyer who was appointed by Governor Martin O'Malley in January 2007 to serve as the Secretary of the Department of Labor, Licensing and Regulation (DLLR). DLLR protects and empowers Marylanders in a wide variety of ways, including laws protecting people in the home ownership process. Secretary Perez has spent his entire career in public service. From 2001 until 2007, he was a professor at the University of Maryland School of Law, where he taught in the school's nationally recognized clinical law and law and health program. Secretary Perez is currently a part-time member of the faculty at the George Washington School of Public Health. From 2002 until 2006, Secretary Perez was a member of the Montgomery County Council. In this capacity, he represented 175,000 residents in Silver Spring , Kensington, Takoma Park and Wheaton. Secretary Perez was the first Latino ever elected to the Council, and served as Council President in 2005. He received an A.B. in International Relations and Political Science from Brown University in 1983, a J.D. cum laude in 1987 from Harvard Law School and a Master's degree in Public Policy from the John F. Kennedy School of Government also in 1987.

Breck Robinson is a visiting scholar at the Federal Reserve Bank of Richmond and an associate professor at the University of Delaware in the School of Urban Affairs and Public Policy, where he teaches economics and finance classes. Robinson conducts research on mortgage and small business lending and the impact of the Community Reinvestment Act. His research has appeared in Housing Policy Debate, Real Estate Economics, Journal of Banking and Finance, Journal of Real Estate Finance and Economics, among others.  Breck was previously a visiting scholar at the Office of the Comptroller of the Currency and a research assistant at the Federal Reserve Bank of Philadelphia. Breck received a B.A. in Economics and Political Science from UMBC, an M.A. in Economics from the University of Delaware and an M.B.A. and Ph.D. in Finance from the University of Tennessee. Breck is originally from Baltimore, Maryland.

Marc Steiner hosted The Marc Steiner Show on WYPR for over 14 years. A passionate community spokesman, he has worked a variety of jobs and has served as an educator and social activist. After a brief career as a marketing consultant and political campaign organizer, Marc moved into producing radio commercials and industrial films for a large advertising agency. Marc's love of the arts led him to found a theater program in the Maryland state prison system and the Family Circle Theater, a company of teenagers that produced original productions about adolescent issues. Steiner spent ten years on the faculty of Baltimore School for the Arts. He is the President of the Center for Emerging Media. He resides in Sparks, Maryland.

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