March 2, 2009


Panel Discussion Outlines Financial Crisis and Solutions

East Lansing, MI — Michigan State University College of Law Professors Bruce Bean, Anne Lawton, and Elliot Spoon, along with Ivan Pongracic, the William E. Hibbs/Ludwig von Mises Chair in Economics at Hillsdale College, and Charles N. Steele, an Assistant Professor of Economics at Hillsdale College, recently presided over a panel discussion about the current financial crisis. More than 100 students attended "Proposing Solutions to the Financial Crisis", which was sponsored by the Law College's Law and Economics Society.

The program began with Professor Pongracic, who outlined three principal factors precipitating the current financial crisis. Professor Steele followed with a discussion of the Obama stimulus package and its likely effects on the U.S. economy. Professor Spoon spoke about the reasons for the downturn in the residential mortgage market and also highlighted portions of Professor Obama's recent housing rescue package. Professor Lawton spoke about the auto industry, in particular about the feasibility of both GM's and Chrysler's restructuring packages and the wisdom of further government bailouts of the industry. Finally, Professor Bean predicted inflation and wrapped up the panel's presentation by contending that President Obama has no choice in the current political environment to do anything other than what he has done.

"Proposing Solutions to the Financial Crisis" will soon be available to listen to in its entirety. Please contact Katie Gallagher for more details.

MSU College of Law was in founded in 1891 as the Detroit College of Law and was devoted exclusively to professional education in law. The Law College is one of only a few private law schools to be affiliated with a research university, enabling it to provide a comprehensive interdisciplinary legal education program. Classes offered in its state-of-the-art facilities provide students the benefits of a Big Ten campus while maintaining a small school culture. For more information about the Law College, visit

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320B Law College Building
East Lansing, MI 48824