News Release

October 9, 2002

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Cato 20th Annual Monetary Conference in New York City Oct. 17
Two Federal Reserve Bank presidents, John Taylor, and Jeffrey Sachs are featured speakers

WASHINGTON -- John Taylor, Treasury Under Secretary for International Affairs, William J. McDonough, President of the Federal Reserve Bank of New York and Dallas Federal Reserve Bank President Robert McTeer Jr., will be among the speakers during the Cato Institute's 20th Annual Monetary Conference, "International Financial Crises: What Role for Government?" in New York City on Oct. 17.

Other distinguished speakers include economists Jeffrey Sachs, Alan Meltzer, Alan Reynolds, Bear Stearns' David Malpass, Zurich Global Asset Management's David Hale, NBER's Anna Schwartz, President Bush's Council of Economic Advisers member Randall S. Kroszner and the IMF's Jack Boorman.

Central among the issues to be discussed is the creation of a new international bankruptcy court and the lessons of the Argentine economic crisis. The conferees will debate government or institutional bank intervention versus adoption of market solutions.

The conference is co-sponsored by the Cato Institute and The Economist magazine.

The conference will be held at the Waldorf-Astoria Hotel and begin at 9 a.m. with an address by McDonough. Treasury Undersecretary Taylor will deliver the luncheon address. Four panels examining responses to global financial crises are:

• Panel 1 - International Bankruptcy: What Next?
• Panel 2 - Lessons from the Argentine Crisis
• Panel 3 - Currency Competition vs. Currency Unification
• Panel 4 - Banking Stability and the Basel Capital Standards

All sessions are open to both print and broadcast press. Registration and additional information can be obtained by clicking here.