Twelve years into the 21st century, the dominant financial and economic fact is that we are still living in the wake of athe vast housing and mortgage bubble, which peaked in mid-2006, almost six years ago.  

This event will address the problems and improvements needed for student loans, beginning with a keynote presentation by former secretary of education Bill Bennett.

At this event, our panel of experts will share their thoughts on Bubble Trouble.

Unlike in the United States, any losses from property market lending are likely to be absorbed by the state. And they will be done so in a manner that will not impair the Chinese banking system's ability to extend credit as was the case in the United States.

The administration has quietly shifted most federal high-risk mortgage credit initiatives to the government's original subprime lender.

Government policies promoted a systematic loosening of underwriting standards in an effort to promote affordable housing, which then contributed mightily to the housing bubble, mortgage meltdown and resulting financial crisis.  

Most people know virtually no financial history, so when we have a financial crisis, it seems like it has never happened before. But it has, again and again. As Paul Volcker, former chairman of the Federal Reserve, remarked: "About every ten years, we have the biggest crisis in 50 years." 

The dominant financial and economic fact of 2011 is that we are still living in the wake of the great 21-st century bubble. The dominant problem with being in the wake of the bubble is that we cannot escape Pollock's Law of Finance, which states: Loans that cannot be paid will not be paid.