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September 16, 2008

OXFORD, Miss. - With the U.S. economy in a serious downswing, voters are looking for the next president to provide solutions.

Will the crisis continue under the new administration? Is relief in sight? What impact will the presidential election have on Fannie Mae and Freddie Mac?
To help answer these and other questions, FNC Inc., of Oxford and the University of Mississippi Department of Journalism are co-hosting a panel discussion Monday (Sept. 22) on "A New Administration: What Will it Mean for the Economy and American Real Estate Markets?" The program, set for 4 p.m. in UM's Farley Hall, Room 202, is free and open to the public.

"We felt like we needed to bring panelists in to give their feedback and discuss what is needed to be done in order to help the situation," said Samir Husni, journalism chair and panel moderator.

Panelists include Joanne Lipman, editor-in-chief, Conde Nast Portfolio Magazine; Dan Goodgame, managing editor, Fortune Small Business; Rob Blackwell, Washington Bureau Chief, American Banker; FNC's CEO Bill Rayburn; and UM's William F. Shughart II, F.A.P. Barnard Distinguished Professor of Economics.

"My top focus on the panel will be talking about what impact the presidential election could have on Fannie Mae and Freddie Mac, which were just seized by the government," Blackwell said. "Those two entities will shape much of the future of the mortgage market, and with the government in charge, the next president will determine who is running them and outline what kind of changes must be made to ensure their future viability.

"For the general public, this is going to affect everything from their interest rates to the availability of mortgages and refinancings. It also has the potential to stabilize home prices or spur further panic in the market."

Panelists will also discuss the presidential candidates and the challenges the next president will face.

"Whoever wins the election will face some serious long- and short-term problems," Lipman said. "And as we've seen from the determined work of Secretary Paulson, many of these decisions are tough and controversial. The biggest challenge for the next president will be picking the right economic team, figuring out whether to keep Fed Chief Bernanke past his 2009 end date, and solving Washington's budget crises without crippling the American taxpayer and the economy as a whole."

For more information about the discussion or for assistance related to a disability, call 662-915-7147.