The Resolution of Too Big to Fail
Federalist Society Review, Volume 21
Note from the Editor: The Federalist Society takes no positions on particular legal and public...
Financial Services Practice Group
Federalist Society Review, Volume 21
Note from the Editor: The Federalist Society takes no positions on particular legal and public...
Christopher Cole, Bert Ely, John L. Douglas
Financial Services Practice Group Podcast
Recently under Dodd-Frank, the FDIC implemented a new assessment base for levying deposit-insurance premiums. Questions...
John L. Douglas, Bert Ely, Peter J. Wallison, Dean Reuter
Financial Services & E-Commerce Practice Group
On a conference call briefing held on May 15, 2010, Mr. John L. Douglas, Mr....
Troy McKenzie, David Skeel, Todd J. Zywicki, Edith H. Jones
Financial Services & E-Commerce Practice Group
Marshall v. Marshall involved the effort of starlet Anna Nicole Smith to recover from the...
Peter J. Wallison, Wayne A. Abernathy, John L. Douglas
Financial Services and E-Commerce Practice Group
On March 26, 2009, Treasury Secretary Timothy Geithner outlined the administration’s plan to regulate the...
Partner, King & Spalding
A partner in the firm’s Government Advocacy and Public Policy group, J.C. helps companies and trade associations navigate legal, political and regulatory issues commonly associated with doing business in Europe and the United States. He is recognized by clients for his strong, bipartisan relationships with Members of Congress, State Attorneys General, congressional staff and senior government officials across key regulatory and executive branch agencies. He is trusted for his ability to rapidly synthesize complex information and communicate its strategic implications to policymakers and senior institutional stakeholders as well as his candid evaluation of options and potential for success.
As former counsel to the Senate Banking Committee, J.C has developed a deep expertise in financial services, fintech, and emerging technology policy. He has a proven track record of influencing federal legislation, regulatory frameworks, and agency rulemaking impacting digital assets, banking, payments, and technology platforms. J.C. regularly interfaces with financial regulators on a wide array of policy and institution-specific issues, and as co-chair of the firm’s State Attorneys General practice, delivers results on high-impact legal work at the intersection of law, policy and regulation.
J.C. is skilled in developing and executing comprehensive advocacy strategies, shaping legislative language, and positioning clients to successfully navigate complex and evolving policy environments at the federal, state and international levels. As President of the Parliamentary Intelligence-Security Forum, he has briefed policymakers throughout Europe, Africa, Latin America, and the Indo-Pacific. JC also advises international clients seeking to invest, expand, or operate in the United States.
President George W. Bush appointed J.C. to a six-year term as U.S. representative to the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). Mayor Muriel Bowser also appointed J.C. to the District of Columbia; Board of Elections, in which capacity he also served on the U.S. Election Assistance Commission Standards Board. He is currently chairman of the Board of Visitors of The Catholic University Columbus School of Law and President of the Parliamentary Intelligence-Security Forum, where he is a regular speaker on cryptocurrency, artificial intelligence and critical minerals.
Earlier in his career, J.C. established the Boggs Scholarship for Public Service at the University of Delaware in honor of his grandfather and namesake, former U.S. Congressman, Senator and Governor of Delaware, J. Caleb Boggs. He has also served on numerous corporate and non-profit boards, including Jobs for Delaware Graduates (Chairman); The Reserve Trust Company (Vice Chairman), Global Center for Social Entrepreneurship Network (Secretary), Republican National Lawyers Association (President), Kimball Union Academy (Chairman of the Committee on Trustees), and AAA Mid-Atlantic.
J.C. enjoys open-water swimming and is member of U.S. Masters Swimming and the historic Serpentine Swimming Club situated in London's Hyde Park. He has competed in swimming events across all 50 states, ten Canadian provinces and around the world.
U.S. Senate, Wyoming
Cynthia Lummis was sworn into the United States Senate on January 3, 2021, becoming the first woman to serve as United States Senator from the great State of Wyoming.
Born on a cattle ranch in Laramie County, Senator Lummis has spent her entire career fighting for Wyoming families, communities, businesses and values. From the halls of the Wyoming House to the halls of the U.S. House, her time in public service has always been focused on advocating for Wyoming’s future.
First elected to the U.S. House in 2008, Senator Lummis quickly earned her reputation as a no-nonsense conservative and principled policymaker. She was a founding member of the House Freedom Caucus, a group consisting of the most unflinching conservative Members of the House of Representatives. She fought throughout her tenure in Congress to rein in spending and reduce the federal deficit, working with the bipartisan Committee for a Responsible Federal Budget and ultimately co-sponsoring several bipartisan budget proposals.
In the House of Representatives, Senator Lummis effectively elevated western issues, pushing through the first Interior and Environment (EPA) Appropriations bill to pass the House in seven years under her chairmanship. This marked a significant milestone for the Western Caucus and the rural communities across the West they represent. She also worked to keep public lands open to the public and available for multiple use. She successfully passed the National Forest System Trails Stewardship Act in 2016, a bipartisan effort led by Cynthia to maintain over 157,000 miles of trails within our national forests.
Senator Lummis is a dedicated champion of Wyoming’s mineral and energy resources. In Washington, she fought off attacks from the environmental left while advocating for market opportunities both at home and abroad. She is the proud godmother of the ANSAC Wyoming, a commercial shipping vessel transporting trona from the U.S. to Southeast Asia and is the recipient of the lifetime achievement award from the Washington Coal Club.
Prior to serving in the House of Representatives, Senator Lummis spent eight years as Wyoming State Treasurer and 14 years as a member of the Wyoming State House and Senate. She also worked as general counsel to Wyoming Governor Jim Geringer and Director of the Office of State Lands and Investments, as well as a law clerk at the Wyoming Supreme Court.
After departing U.S. House of Representatives in 2016, Senator Lummis operated her family’s cattle ranches, and the Sweetgrass development in Laramie County, with her brother and sister. She is a three-time graduate of the University of Wyoming in animal science, biology and law. She and her late-husband, Al Wiederspahn, have one daughter, Annaliese, son-in-law Will Cole and grandsons Gus and Al.
Executive Vice President & Co-Head of Regulatory Affairs, Bank Policy Institute
Paige Paridon is Executive Vice President & Co-Head of Regulatory Affairs for the Bank Policy Institute. Ms. Paridon is a member of BPI’s legal and regulatory affairs team and leads BPI’s consumer financial regulation advocacy alongside digital assets, payments and innovation regulatory policy. She also works on a number of other bank regulatory policy, strategy and advocacy issues.
Prior to joining BPI, Ms. Paridon served as Managing Director and Senior Associate General Counsel of The Clearing House. In that capacity, Ms. Paridon led the advocacy efforts of The Clearing House on a wide array of bank regulatory legal and policy issues impacting large financial institutions, including bank rating systems, national bank preemption, industry compensation limitations, brokered deposit restrictions, Community Reinvestment Act regulations and structural and activity limitations impacting banking organizations. Prior to joining The Clearing House, Ms. Paridon served as Counsel in the Legal Division of the Board of Governors of the Federal Reserve System in the Banking Regulation and Policy Group. While at the Board, Ms. Paridon drafted regulations and developed policies in connection with the Board’s implementation of the Dodd-Frank Act, including those related to the establishment of the Financial Stability Oversight Council; restrictions on transactions between banks and their affiliates; and prohibitions on management interlocks.
While at the Board, she received the Chairman’s Special Achievement Award for leading the interagency effort to implement the Financial Stability Oversight Council’s nonbank designation authority. Ms. Paridon received her J.D. magna cum laude from The Georgetown University Law Center where she was elected to membership in the Order of the Coif and holds a B.A. from Yale University.
Senior Fellow, Mises Institute
Alex J. Pollock is a Senior Fellow with the Mises Institute, providing thought and policy leadership on financial issues and the study of financial systems. His work includes cycles of booms and busts, financial crises with their political responses, housing finance, government-sponsored enterprises, risk and uncertainty, central banking, banking and financial regulation, corporate governance, retirement finance, student loans, and the politics of finance.
He previously served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department 2019-2021. He was a Distinguished Senior Fellow with the R Street Institute 2015-2019 and 2021, and a resident fellow at the American Enterprise Institute, 2004-2015. Among the many aspects of his AEI work, he developed the One Page Mortgage Form to give borrowers in clear form the key information they need in order to know what they are committing themselves to. He was President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004. There he invented the Mortgage Partnership Finance program, which successfully created front-end mortgage credit risk sharing beginning in 1997. His decades of banking experience include being a Visiting Scholar at the Federal Reserve Bank of St. Louis, 1991.
Pollock was a director of the CME Group 2004-2019 and of Ascendium Education Group 1989-2019. He is a director and past-chairman of the Great Books Foundation and a past president of the International Union for Housing Finance.
He is the co-author of Surprised Again! - The COVID Crisis and the New Market Bubble (2022), and the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony.
Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.
His work is available on alexjpollock.com.
Deputy General Counsel of Regulatory Strategy and Global Policy, Circle
Corey Then is the Deputy General Counsel of Regulatory Strategy and Global Policy at Circle, where he leads U.S. policy and global regulatory strategy. Among other things, he helped lead the company’s advocacy on stablecoin legislation, which ultimately culminated in the GENIUS Act. Prior to joining Circle, Corey served in a variety of legal and leadership roles, including in the White House as an attorney, Special Assistant to the President and leader of the Economics team in Presidential Personnel, and as Deputy General Counsel of the U.S. Department of Agriculture.
He has also served as the Chief Legal Officer of Moneta, an investment adviser, as a white-collar attorney at Williams & Connolly law firm in Washington, D.C., as an adjunct professor at Washington University Law School, and as a member of the CFTC Technology Advisory Committee. He is a graduate of Duke Law School.
Professor of Legal Studies & Business Ethics, The Wharton School, The University of Pennsylvania
David Zaring’s scholarship addresses administrative and regulatory law from an international perspective. Professor Zaring comes to the business school from the Washington & Lee University School of Law. At Washington & Lee, he was an assistant professor and Alumni Faculty Fellow from 2005 to 2007. He had previously served as Acting Assistant Professor in the Lawyering Program at New York University School of Law from 2002 to 2005, and as a visiting professor at Vanderbilt Law School in the fall of 2007. After graduating magna cum laude from Harvard Law School, Professor Zaring clerked for Chief Judge William Matthew Byrne Jr. of the U.S. District Court for the Central District of California and then for Judge Judith Rogers on the US. Court of Appeals for the D.C. Circuit. He served as a trial attorney for the U.S. Department of Justice in the Federal Programs Branch of the Civil Division and as a special assistant to the General Counsel in the U.S. Department of Housing and Urban Development before entering the academy.
Director, Robert A. Levy Center for Constitutional Studies, Cato Institute
Thomas Berry is the director in the Cato Institute’s Robert A. Levy Center for Constitutional Studies and editor in chief of the Cato Supreme Court Review. Before joining Cato, he was an attorney at Pacific Legal Foundation and clerked for Judge E. Grady Jolly of the U.S. Court of Appeals for the Fifth Circuit. His academic work has appeared in NYU Journal of Law and Liberty, Washington and Lee Law Review Online, and Federalist Society Review. His popular writing has appeared in The Wall Street Journal, National Law Journal, Investor’s Business Daily, National Review Online, and The Hill Online. He has testified before the U.S. Senate, and his work has been cited by the U.S. District Court for the District of Columbia.
Berry holds a J.D. from Stanford Law School, where he was a senior editor on the Stanford Law and Policy Review and a Bradley Student Fellow in the Stanford Constitutional Law Center. He graduated with a B.A. in Liberal Arts from St. John’s College, Santa Fe.
Partner, Boyden Gray PLLC
Jimmy Conde is partner at Boyden Gray PLLC, specializing in energy, environmental, and administrative law, with particular expertise in the Clean Air Act. He has protected clients against agency overreach in cutting-edge and complex legal proceedings, including challenges to EPA, DOE, DOT, and California rules seeking to compel electrification of motor vehicles, the FCC’s universal service fund, Department of Labor Wage & Hour Division rules, and HHS rules interfering with the practice of medicine and sound insurance practices. His written commentary has been published and referenced in the Wall Street Journal, the Washington Examiner, Concurrences (an antitrust publication), and Newsweek, among others.
Mr. Conde began his legal career as an associate with Boyden Gray PLLC. He clerked for Judge Douglas H. Ginsburg in the U.S. Court of Appeals for the D.C. Circuit and Judge David J. Porter in the U.S. Court of Appeals for the Third Circuit.
Associate Chief Counsel, U.S. Chamber Litigation Center, U.S. Chamber of Commerce
Maria C. Monaghan is associate chief counsel at the U.S. Chamber Litigation Center, the litigation arm of the U.S. Chamber of Commerce. In this capacity, she handles a variety of litigation matters for the Chamber.
Before joining the Litigation Center, Monaghan practiced as an associate in the D.C. office of Gibson, Dunn & Crutcher LLP. She represented clients in the telecommunications, energy, transportation, and e-commerce sectors, with a focus on appellate litigation and regulatory matters.
Monaghan served as a law clerk to the Honorable Samuel A. Alito of the United States Supreme Court, the Honorable Ed Carnes of the U.S. Court of Appeals for the Eleventh Circuit, and the Honorable Amul R. Thapar of the U.S. Court of Appeals for the Sixth Circuit. She graduated Order of the Coif from the University of Virginia School of Law, where she served as Articles Development Editor for the Virginia Law Review and participated in the Supreme Court Litigation Clinic. She received her undergraduate degree in Human Resource Management and Labor Studies from Rutgers University.
Senior Counsel, America First Legal Foundation
James Rogers is Senior Counsel at America First Legal Foundation, where he litigates in a number of areas, including border security, election integrity, parental rights, and administrative and constitutional law. Before joining America First Legal, from 2021 to 2022, he was Senior Litigation Counsel at the Solicitor General’s Office of the Arizona Attorney General’s Office. While there, he spearheaded lawsuits against the Biden Administration’s destructive open borders policies and its COVID19 vaccine mandates. From 2015 to 2021, James was a Foreign Service Officer at the U.S. Department of State, where he worked in the Office of the Assistant Legal Advisor for Consular Affairs, at the U.S. Consulate in Porto Alegre, Brazil, and at the U.S. Embassy in Windhoek, Namibia.
Prior to joining the Department of State, he was a commercial litigation partner at Osborn Maledon, a Phoenix-based firm with a #1 litigation ranking from Chambers and Partners. James earned a J.D. from Harvard Law School in 2009, an L.L.M. in International Law from the University of Cambridge in 2008, and a B.A., with honors, in International Studies from Brigham Young University in 2005. He is a sixth-generation Arizonan and lives in Mesa, Arizona, with his four children.
Partner, Marshall, Gerstein & Borun LLP
Ryan Schermerhorn is a registered patent attorney in the firm's Industrial & Mechanical Technologies Practice Group. His engineering background provides him with an understanding of clients’ technologies and enables him to effectively and efficiently provide a range of patent procurement services. He also leverages his experience to assist on intellectual property litigation as well as develop strategies for acquiring and protecting intellectual property.
Since 2017, Ryan has been listed as an "Emerging Lawyer" by Emerging Lawyers Magazine and has been selected for inclusion in the Illinois Rising Stars® lists. Ryan was recognized in Chicago Daily Law Bulletin's 2023 40 Under Forty list. Since 2024, Ryan has been selected for inclusion in The Best Lawyers in America© list in the practice areas of Litigation - Patent and Patent Law. In 2025, Ryan was selected by the Law Bulletin Publishing Company’s Leading Lawyer Network as a “Leading Lawyer.”
Member, Board of Governors , Federal Reserve System
Michael S. Barr took office as a member of the Board of Governors of the Federal Reserve System on July 19, 2022, for an unexpired term ending January 31, 2032. Mr. Barr served as the Vice Chair for Supervision of the Board of Governors of the Federal Reserve System from July 19, 2022, to February 28, 2025.
Prior to his appointment to the Board, Mr. Barr was the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy, the Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, and the founder and faculty director of the University of Michigan's Center on Finance, Law & Policy. At the University of Michigan Law School, Mr. Barr taught financial regulation and international finance and co-founded the International Transactions Clinic and the Detroit Neighborhood Entrepreneurs Project.
Mr. Barr served as the U.S. Department of the Treasury's assistant secretary for financial institutions, 2009-2010. Under President William J. Clinton, he served as the Treasury Secretary's special assistant, as deputy assistant secretary of the Treasury, as special adviser to the President, and as a special adviser and counselor on the policy planning staff at the U.S. Department of State.
Additionally, Mr. Barr served as a law clerk to U.S. Supreme Court Justice David H. Souter during October Term 1993, and previously to the Honorable Pierre N. Leval, then of the Southern District of New York.
Mr. Barr received a BA in history from Yale University, an MPhil in international relations from Oxford University, and a JD from Yale Law School.
Partner, Cahill Gordon & Reindel LLP; Special Professor of Law, Maurice A. Dean School of Law, Hofstra University
Gary E. Kalbaugh is a nationally recognized leader in commodities, futures, and derivatives law.
Gary is a partner in the New York office of Cahill Gordon & Reindel LLP as well as a Special Professor of Law at the Maurice A. Deane School of Law at Hofstra University, where he teaches derivatives law and banking law.
A preeminent authority in the derivatives field, Gary is the author of the principal treatise Derivatives Law and Regulation (3rd ed. 2021) and serves as Editor-in-Chief of the Futures and Derivatives Law Report, the foremost industry publication. He is a past chair of the New York City Bar Association’s Committee on the Regulation of Futures and Derivatives and has over 15 years of experience as a professor teaching derivatives and banking law.
Gary is the leading derivatives lawyer in the digital assets space, and one of few to truly understand the technical side of emerging financial technology. He serves on the CFTC’s Future of Finance Subcommittee, reflecting his recognized leadership at the intersection of financial regulation and emerging technologies. A frequent speaker, writer, and commentator on derivatives, banking law, artificial intelligence, and digital assets regulation, he has served as conference co-chair for the American Bar Association’s “Artificial Intelligence and Derivatives Market” conference and regularly speaks at major industry conferences on cutting-edge issues in financial regulation and technology. Gary is sought after as a thought leader on the evolving landscape of digital asset regulation and the regulatory implications of AI in financial markets.
At ING, Gary served as Deputy General Counsel and Director, where he chaired swap dealer and security-based swap dealer regulatory committees and provided strategic leadership on U.S., European, and other regulations impacting the organization. He had global responsibility for U.S. derivatives regulatory issues and maintained strong relationships with regulators. Gary also co-developed ING legal’s global artificial intelligence training program and was responsible for U.S. regulatory issues relating to ING’s blockchain-based pilot programs and crypto initiatives.
Previously, Gary served as a lecturer-in-law at Columbia Law School and held senior roles at WestLB, where he was executive director, counsel, and chief U.S. data protection officer and chaired the global Dodd-Frank and underwriting committees. He began his career as an associate at a notable international firm.
Chief Executive Officer, Blockchain Association
Summer Mersinger is CEO of Blockchain Association, where she leads advocacy efforts to advance digital asset innovation and policy in Washington. She previously served as a Commissioner of the Commodity Futures Trading Commission, nominated by President Biden and unanimously confirmed by the Senate. With over 20 years of experience in public policy and government affairs, Summer has held senior roles at the CFTC, on Capitol Hill as Chief of Staff to Senator John Thune, and in the private sector.
Senior Fellow, Mises Institute
Alex J. Pollock is a Senior Fellow with the Mises Institute, providing thought and policy leadership on financial issues and the study of financial systems. His work includes cycles of booms and busts, financial crises with their political responses, housing finance, government-sponsored enterprises, risk and uncertainty, central banking, banking and financial regulation, corporate governance, retirement finance, student loans, and the politics of finance.
He previously served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department 2019-2021. He was a Distinguished Senior Fellow with the R Street Institute 2015-2019 and 2021, and a resident fellow at the American Enterprise Institute, 2004-2015. Among the many aspects of his AEI work, he developed the One Page Mortgage Form to give borrowers in clear form the key information they need in order to know what they are committing themselves to. He was President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004. There he invented the Mortgage Partnership Finance program, which successfully created front-end mortgage credit risk sharing beginning in 1997. His decades of banking experience include being a Visiting Scholar at the Federal Reserve Bank of St. Louis, 1991.
Pollock was a director of the CME Group 2004-2019 and of Ascendium Education Group 1989-2019. He is a director and past-chairman of the Great Books Foundation and a past president of the International Union for Housing Finance.
He is the co-author of Surprised Again! - The COVID Crisis and the New Market Bubble (2022), and the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony.
Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.
His work is available on alexjpollock.com.
Partner and General Counsel, Multicoin Capital
Greg Xethalis is a Partner and General Counsel of Multicoin Capital. He manages all legal and policy functions for the firm and works with our portfolio companies on legal and policy strategy. Prior to joining Multicoin, Greg was a partner in the Investment Management and FinTech practices at Chapman and Cutler LLP with 12 years of experience counseling clients on digital asset matters. Greg is a Director of the Blockchain Association, the DeFi Education Foundation, KindlyMD and the Fordham Law Alumni Association, and Senior Lecturing Fellow at Duke University School of Law, where he teaches Fintech and Blockchain Law and Policy.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Senior Vice President and Senior Regulatory Counsel, Independent Community Bankers of America
Chris Cole is senior vice president and senior regulatory counsel for ICBA. Before joining ICBA, Cole was vice president and assistant general counsel with First Virginia Banks Inc., which merged into BB&T. Prior to that, he served as counsel for the Marriott Corp. and as a tax attorney for the Department of Treasury.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Partner, Davis Polk & Wardwell LLP
Mr. Douglas is a partner in Davis Polk’s Financial Institutions Group, heading the firm’s bank regulatory practice and focusing on bank restructuring and resolutions and other issues arising from the current banking and financial crisis. He has been involved in some of the most difficult and sensitive matters during the crisis, including advising the boards of directors of Indymac and Bank United, counseling Citigroup with respect to FDIC matters, advising various parties on the fallout from the failure of Washington Mutual and advising various private equity firms on proposed investments in troubled or failed banks.
Mr. Douglas was appointed General Counsel of the Federal Deposit Insurance Corporation in 1987 and continued in that capacity through 1989. This was a period of unprecedented stress on the financial system, and he was involved in the major bank failures and restructurings of the late 1980s, participated in the landmark Financial Institutions Regulatory Reform and Restructuring Act of 1989 and assisted in the organization of the Resolution Trust Corporation.
Mr. Douglas is regarded as one of the leading bank insolvency lawyers in the nation.
Partner, Davis Polk & Wardwell LLP
Mr. Douglas is a partner in Davis Polk’s Financial Institutions Group, heading the firm’s bank regulatory practice and focusing on bank restructuring and resolutions and other issues arising from the current banking and financial crisis. He has been involved in some of the most difficult and sensitive matters during the crisis, including advising the boards of directors of Indymac and Bank United, counseling Citigroup with respect to FDIC matters, advising various parties on the fallout from the failure of Washington Mutual and advising various private equity firms on proposed investments in troubled or failed banks.
Mr. Douglas was appointed General Counsel of the Federal Deposit Insurance Corporation in 1987 and continued in that capacity through 1989. This was a period of unprecedented stress on the financial system, and he was involved in the major bank failures and restructurings of the late 1980s, participated in the landmark Financial Institutions Regulatory Reform and Restructuring Act of 1989 and assisted in the organization of the Resolution Trust Corporation.
Mr. Douglas is regarded as one of the leading bank insolvency lawyers in the nation.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Senior Fellow, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies and is co-director of AEI’s program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States.
Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966.
Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009). On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; Competitive Equity: A Better Way to Organize Mutual Funds; Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013); and Hidden In Plain Sight: What Caused the World’s Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). His most recent book is Judicial Fortitude: The Last Chance to Rein in the Administrative State, published by Encounter Books in October 2018.
He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He was a member of the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.
Executive Vice President, The Federalist Society
Dean Reuter is Executive Vice President at the Federalist Society for Law and Public Policy Studies. He has served in two federal government agency Offices of the Inspector General, as Counsel to the Inspector General and Deputy Inspector General, responsible for policing the use of federal funds granted and contracted through those agencies. As such, he helped conduct and oversee criminal investigations across the country. He is the principal author of the non-fiction book, The Hidden Nazi: The Untold Story of America's Deal with the Devil, and editor of Liberty’s Nemesis: The Unchecked Expansion of the State and Confronting Terror: 9/11 and the Future of American National Security. He was appointed by the President and served as Vice-Chairman of the Board of Directors of the Corporation for National and Community Service, and recently served as an appointee on the U.S. Commission on Presidential Scholars. He is a graduate of Hood College (BA with Honors) and the University of Maryland School of Law.
Professor of Law, New York University School of Law
Troy McKenzie joined the faculty of New York University School of Law in 2007. His scholarly interests include bankruptcy, civil procedure, complex litigation, and the federal courts. He earned a bachelor's degree in chemical engineering in 1997 from Princeton University and his law degree in 2000 from NYU, where he was an executive editor of the NYU Law Review and a member of the Order of the Coif. After law school, he served as a law clerk to Judge Pierre N. Leval of the U.S. Court of Appeals for the Second Circuit and Justice John Paul Stevens of the Supreme Court of the United States. Before joining the NYU faculty, McKenzie was a litigation associate for four years at Debevoise & Plimpton in New York. His article "Judicial Independence, Autonomy, and the Bankruptcy Courts" recently appeared in the Stanford Law Review (2010).
S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School
David Skeel is the Caryl Louise Boies Visiting Professor of Law at New York University, and the S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania. He is the author of The New Financial Deal: Understanding the Dodd-Frank Act and its (Unintended) Consequences (Wiley, 2011); Icarus in the Boardroom: The Fundamental Flaws in Corporate America and Where They Came From (Oxford University Press, 2005); Debt’s Dominion: A History of Bankruptcy Law in America (Princeton University Press, 2001); and numerous articles on bankruptcy, corporate law, financial regulation, Christianity and law, and other topics. Professor Skeel has also written commentaries for the New York Times, Wall Street Journal, Books & Culture, The Weekly Standard, and other publications.
George Mason University Foundation Professor of Law, Antonin Scalia Law School, George Mason University
TODD J. ZYWICKI is George Mason University Foundation Professor of Law at Antonin Scalia Law School at George Mason University and Research Fellow of the George Mason Law and Economics Center. During the Fall 2023 semester he served as the Visiting Scholar in Conservative Thought and Policy for the Bruce Benson Center for the Study of Western Civilization at the University of Colorado-Boulder. From 2020-2021 he was Chair of the Consumer Financial Protection Bureau Taskforce on Federal Consumer Financial Law. In 2021 he was inducted to the American College of Consumer Financial Services Lawyers. He is also a Senior Fellow of the F.A. Hayek Program for the Advanced Study of Politics, Philosophy, and Economics at George Mason University and a former Senior Fellow of the Cato Institute. From 2015-2017 he was Executive Director of the George Mason Law and Economics Center. He served as Co-Editor of the Supreme Court Economic Review from 2006-2017. From 2003-2004, Professor Zywicki served as the Director of the Office of Policy Planning at the Federal Trade Commission. He has also taught at Vanderbilt University Law School, Georgetown University Law Center, Boston College Law School, Mississippi College School of Law, and China University of Political Science and Law.
Professor Zywicki clerked for Judge Jerry E. Smith of the U.S. Court of Appeals for the Fifth Circuit and worked as an associate at Alston & Bird in Atlanta, Georgia, where he practiced bankruptcy and commercial law. He received his J.D. from the University of Virginia, where he was executive editor of the Virginia Tax Review and John M. Olin Scholar in Law and Economics. Professor Zywicki also received an M.A. in Economics from Clemson University and an A.B. cum Laude with high honors in his major from Dartmouth College.
Professor Zywicki is also a Lone Mountain Fellow of the Property and Environment Research Center, a Fellow of the International Centre for Economic Research in Turin, Italy, and a former Senior Fellow of the Goldwater Institute. During the Fall 2008 Semester Professor Zywicki was the Searle Fellow of the George Mason University School of Law and was a 2008-09 W. Glenn Campbell and Rita Ricardo-Campbell National Fellow and the Arch W. Shaw National Fellow at the Hoover Institution on War, Revolution and Peace. He has lectured and consulted with government officials around the world, including Iceland, Italy, Japan, and Guatemala. In 2006 Professor Zywicki served as a Member of the United States Department of Justice Study Group on “Identifying Fraud, Abuse and Errors in the United States Bankruptcy System.”
Professor Zywicki is the author of more than 130 articles in leading law reviews and peer-reviewed economics journals. He is one of the Top 10 most-cited law professors in the field of Commercial Law and one of the Top 25 law professors on Twitter as measured by engagement levels. He is one of the Top 50 Most Downloaded Law Authors at the Social Science Research Network. He has testified multiple times before Congress on issues of consumer bankruptcy law and consumer credit and is a frequent commentator on legal issues in the print and broadcast media, including the Wall Street Journal, New York Times, The Washington Post, The Washington Times, Nightline, The Newshour with Jim Lehrer, Neil Cavuto Show, Fox & Friends, Smerconish, Fox News @ Night with Shannon Bream, Fox Business, CNN, CNBC, Bloomberg News, BBC, The Diane Rehm Show, Lou Dobbs Show, Jerry Doyle Show, and The Laura Ingraham Show.
Professor Zywicki is former Chairman and a current member of the Board of Directors of the Competitive Enterprise Institute, and is a member of the Board of Directors of the Institute for Humane Studies, Bill of Rights Institute, the Executive Committee for the Federalist Society's Financial Institutions and E-Commerce Practice Group, the Board of Trustees of the Foundation for Research on Economics and the Environment. He formerly served on the Governing Board and the Advisory Council for the Financial Services Research Program at George Washington University School of Business. He is currently the Chair of the Academic Advisory Council for the following organizations: The Bill of Rights Institute, the film “We the People in IMAX,” and the McCormick-Tribune Foundation “Freedom Museum” in Chicago, Illinois. He is a member of the Board of Visitors of Ralston College and was a member of the Board of Trustees of Yorktown University. From 2005-2009 he served as an elected Alumni Trustee of the Dartmouth College Board of Trustees.
Judge, United States Court of Appeals, Fifth Circuit
Edith Jones graduated from Alamo Heights High School, where she was a National Merit Scholar. In 1971, she received her B.A. in Economics from Cornell University, graduating with honors. In 1974, she was awarded her J.D. at the University of Texas Law School, where she was a law review editor and received the Order of the Coif.
Judge Jones was the first female partner at Andrews, Kurth, Campbell & Jones (now Hunton Andrews Kurth) where she practiced various types of litigation and bankruptcy cases. Judge Jones went on the federal bench on June 1, 1985.
Judge Jones served as a former member of the National Bankruptcy Review Commission, and as a member of the Judicial Conference Commission on Bankruptcy Rules. Judge Jones served on the White House Fellows Commission. Judge Jones served on the board of the Sam Houston Area Council of the Boy Scouts of America. She has been a member of the Garland Walker Inn of Court in Houston for more than 20 years and its President for at least ten years. Judge Jones is also on the Board of the Calvin Coolidge Presidential Foundation.
Senior Fellow, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies and is co-director of AEI’s program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States.
Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966.
Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009). On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; Competitive Equity: A Better Way to Organize Mutual Funds; Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013); and Hidden In Plain Sight: What Caused the World’s Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). His most recent book is Judicial Fortitude: The Last Chance to Rein in the Administrative State, published by Encounter Books in October 2018.
He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He was a member of the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Partner, Davis Polk & Wardwell LLP
Mr. Douglas is a partner in Davis Polk’s Financial Institutions Group, heading the firm’s bank regulatory practice and focusing on bank restructuring and resolutions and other issues arising from the current banking and financial crisis. He has been involved in some of the most difficult and sensitive matters during the crisis, including advising the boards of directors of Indymac and Bank United, counseling Citigroup with respect to FDIC matters, advising various parties on the fallout from the failure of Washington Mutual and advising various private equity firms on proposed investments in troubled or failed banks.
Mr. Douglas was appointed General Counsel of the Federal Deposit Insurance Corporation in 1987 and continued in that capacity through 1989. This was a period of unprecedented stress on the financial system, and he was involved in the major bank failures and restructurings of the late 1980s, participated in the landmark Financial Institutions Regulatory Reform and Restructuring Act of 1989 and assisted in the organization of the Resolution Trust Corporation.
Mr. Douglas is regarded as one of the leading bank insolvency lawyers in the nation.