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Rutgers Professors Can Comment on Inner-City & International Impacts of Mortgage Crisis

March 19, 2008 – 

The impact of the subprime mortgage crisis continues to spread. With rates on more than 1.5 million home mortgages due to be reset this year, some predict a deepening of the national housing downturn as mortgage holders with little or no equity simply abandon their homes. Troubles in the U.S. mortgage market have contributed to a growing credit crisis that has global financial markets concerned as well. Experts from Rutgers School of Law-Newark are available to discuss these different aspects of the mortgage crisis.

Professor David Troutt can comment on mortgage lending practices and the impact of the subprime mortgage crisis on inner-city economic development and communities of color. In both his scholarship and teaching, Troutt has long explored how racial and economic segregation have perpetuated inner-city poverty. He is editor and contributor to “After the Storm: Black Intellectuals Explore the Meaning of Hurricane Katrina,” a book of essays by prominent scholars on the national significance of the poverty and inequality in New Orleans that was revealed after the storm. Contact Professor Troutt at 973-353-5590 (office) or dtroutt@kinoy.rutgers.edu.

Associate Professor Anna Gelpern can comment on the international dimensions of the mortgage crisis, how it compares to past financial crises in wealthy and developing countries, and on the international experience with crisis reduction. In addition to teaching at Rutgers, Gelpern is a visiting fellow at the Peter G. Peterson Institute for International Economics. She has published articles on debt, development, and financial globalization; served in legal and policy positions at the U.S. Treasury Department; and practiced law in New York and London, advising governments and private sector clients on debt restructuring, investment, and other financial transactions. Contact Professor Gelpern at 973-353-5346 (office) or agelpern@kinoy.rutgers.edu.