Project on Financial Vulnerabilities and Foreign Policy
Staff: Roger M. Kubarych
September 1, 1999 - June 30, 2001
The objective of this project was to develop research findings and expert advice that policymakers can use to help prepare for an unexpected financial mishap, and perhaps take steps to mitigate its adverse consequences, both at the domestic and international level. A four-part series of Council events provided the means to examine the links between the financial markets and broader economic, foreign policy, and national security concerns: (1) A roundtable at which the participants, including market practitioners, scholars, and former senior officials review the lessons learned from past stock market disturbances and the policy responses to them and identify the economic and financial vulnerabilities in the current environment; (2) a scenario-building roundtable; (3) a policy simulation in which a small number of experienced policy thinkers and former policymakers will work through the options and constraints facing the U.S. government in the aftermath of a sudden and significant stock market decline; (4) a conference to disseminate the findings of the roundtable and simulation. The conference held on July 12-13, provided a forum to raise the broadest possible perspective on the intersection of financial markets, the global economy, foreign policy, and national security.
Meetings
National Program Meeting
Financial Vulnerabilities: Lessons Learned and Implications for Foreign Policymaking (San Francisco)
Panelist: Judith K. Paulus, Adviser to the Chairman, Sara Lee Corporation
Speaker: Roger M. Kubarych, Henry Kaufman Senior Fellow in International Economics and Finance, Council on Foreign Relations
January 26, 2001
Roger Kubarych will give an overview of the Council on Foreign Relations’ Financial Vulnerabilities Project and summarize his findings and recommendations
on thinking through the policy implications of a major downturn in the U.S. financial markets.
National Program Meeting
Financial Vulnerabilities: Lessons Learned and Implications for Foreign Policymaking (Los Angeles)
Panelist: Robert E. Denham, Partner, Munger, Tolles & Olson
Speaker: Roger M. Kubarych, Henry Kaufman Senior Fellow in International Economics and Finance, Council on Foreign Relations
January 25, 2001
Roger Kubarych will give an overview of the Council on Foreign Relations’ Financial Vulnerabilities Project and summarize his findings and recommendations
on thinking through the policy implications of a major downturn in the U.S. financial markets.
National Program Meeting
Financial Vulnerabilities: Lessons Learned and Implications for Foreign Policymaking (Dallas)
Panelist: Scott L. Miller, Principal, Miller Global Investments
Speaker: Roger M. Kubarych, Henry Kaufman Senior Fellow in International Economics and Finance, Council on Foreign Relations
January 24, 2001
Roger Kubarych will give an overview of the Council on Foreign Relations’ Financial Vulnerabilities Project and summarize his findings and recommendations
on thinking through the policy implications of a major downturn in the U.S. financial markets.
View All Meetings
National Program Meeting
Financial Vulnerabilities: Lessons Learned and Implications for Foreign Policymaking (Houston)
Panelist: Richard D. Quay, Counsel, Law Department, Exxon Mobil
Speaker: Roger M. Kubarych, Henry Kaufman Senior Fellow in International Economics and Finance, Council on Foreign Relations
January 24, 2001
Roger Kubarych will give an overview of the Council on Foreign Relations’ Financial Vulnerabilities Project and summarize his findings and recommendations
on thinking through the policy implications of a major downturn in the U.S. financial markets.
Conference Panel Session
Assessing Financial Vulnerabilities and Uncovering New Investment Opportunities: The Global Dimension
December 6, 2000
The conference will bring together serious professionals from the financial markets, business, and the policy communities to explore better ways of identifying and managing risks in the global system. The conference will build on three earlier successful exercises. The first was a roundtable last fall that reviewed the lessons learned from past financial disturbances and sought to identify current vulnerabilities. The second was an extraordinary policy simulation or "war game" that took place here in January, effectively a "stress test" of the global economic, financial, and political system. And the third was a two-day conference on "The Next Financial Crisis: Warning Signs, Damage Control and Impact" held in New York in June at which Federal Reserve Chairman Alan Greenspan was the keynote speaker.
As you can see in the linked agenda, the issues we will tackle and the quality of speakers make this a truly unique event.
Roundtable Meeting
Stress-Testing the System: Simulating the Global Consequences of the Next Financial Crisis
Speaker: Roger M. Kubarych
November 10, 2000
National Program Meeting
Stress-Testing the System
Panelists: Kenneth W. Dam, (Central Banking Group Chair) Max Pam Professor of American and Foreign Law, University of Chicago Law School
Michael H. Moskow, (Economic and Trade Policy Group Chair) President, Federal Reserve Bank of Chicago
John E. Rielly, (Foreign Policy and National Security Group Chair) President, Chicago Council on Foreign Relations
Speaker: Roger M. Kubarych, Henry Kaufman Senior Fellow in International Economics and Finance, Council on Foreign Relations
September 26, 2000
Roundtable Meeting
Financial Vulnerabilities
Speaker: Roger M. Kubarych
September 29, 1999
