Washington Metro Objectivism Discussion (WMOD)

                       October 21, 1998

    "The Asian Crisis: A Libertarian/Objectivist Perspective"

                	By Bert Ely

Based in part on a recent trip to East Asia, Bert Ely will explain
what the Asian economic crisis is, and is not.  In particular, he
will explain why the so-called Asian miracle of recent years in fact
was a form of state-directed capitalism that was doomed to fail.
He will further explore Asia's political shortcomings from both a
libertarian as well as an Objectivist perspective.  He will offer
some insights into how the Asian crisis might play itself out,
implications for the U.S. economy, and why the gold standard,
currency boards, and state bailout plans offer no hope to Asia.
Bert is a frequent WMOD speaker on economic issues.

Bert Ely has specialized in deposit insurance and banking
structure issues since 1981. As the S&L situation worsened,
he became in 1986 one of the first persons to publicly
predict a taxpayer bailout of the FSLIC. In 1991, he was
the first person to correctly predict the non-crisis in
commercial banking; in 1992, he predicted the forthcoming
taxpayer bailout of the Japanese banking system.
         
On an ongoing basis, he monitors conditions in the banking
and thrift industries, the growing politicization of the
credit allocation process, and issues involving monetary
policy and the payments system. He has helped to draft
legislation to enact the cross-guarantee concept for
privatizing banking regulation and its attendant deposit
insurance and systemic risks. He also consults on current
legislative and regulatory trends in Washington, deposit
insurance issues, structural changes in the financial
services industry, and the role that electronic technology
has played in fostering "regulatory arbitrage" within
the financial system.
         
He has testified before numerous congressional committees
on banking issues and is often quoted in many publications,
including The New York Times, The Wall Street Journal,
American Banker, and BusinessWeek. He appears on television
regularly and speaks frequently about deposit insurance and
other banking issues, the Washington scene as it affects
banking, monetary policy, and trends in financial services.
He also serves as an expert witness in lawsuits involving
deposit insurance and regulatory negligence issues and has
published numerous articles and papers on a broad range of
financial services topics.

Bert Ely was a financial consultant to a broad range of
manufacturing, distribution, and service businesses from 1972
to the mid-1980s. As a specialist in corporate insolvency matters,
he served as a Chapter 11 bankruptcy trustee and bankruptcy
examiner. He also participated in numerous corporate turnarounds
and loan restructurings. Thus, he brings to the deposit insurance
issue a broad business background and hands-on experience with
insolvency matters.
         
Prior to 1972, Bert Ely served as chief financial officer of
a public company, as a management consultant with Touche, Ross
& Co., and as an auditor with Ernst & Ernst.  Bert received his
MBA from the Harvard Business School in 1968 and his BBA in
economics and accounting from Case Western Reserve University in
1964.  For more information on Bert's work, browse his company
web site http://www.ely-co.com or email him at Bert@ely-co.com.


                    September WMOD Meeting

Thanks again to Will Wilkinson for his September 23 talk 
on "Richard Rorty and Post Modern Politics". Approximately 30
folks attended the meeting.

                When and Where is the WMOD Meeting?

Join us on Wednesday, October 21.  Anyone who is
interested in rational discussion of Ayn Rand's ideas is welcome.
Note that our meeting location is Metro accessible.  You can
either join us for drinks at 6:30 with dinner at 7 pm and/or for
the talk (free) at 8:15 pm at the Hunan Palace in Rosslyn, VA
just across the Key Bridge from Georgetown.  The street address is
1812 North Moore Street. If you come by Metro, get off at the
Rosslyn Metro Exit and the Hunan Palace is only a few feet away.
Take the street exit on N Moore Street (across street from Roy
Rogers/Burger King), go out of Metro and take a left, and the
Palace is a few feet down N Moore street. If you drive, there is
a parking garage next door to the Palace that is free after 6:00 pm
if you get your ticket validated at the Palace. There will be a $15
fixed price dinner this time, or you can order from
the menu.  Please RSVP to WMOD at (703) 820-7696 before noon on
Wednesday 10/21 so that we can tell the restaurant how
many tables to set up and how many to expect for dinner.  For more
information on the restaurant, call the Palace at
(703) 528-8188, or call David Saum at(703)820-7696 (W) or (703)
671-5119 (H).  
     
               Future Meetings

WMOD meetings are generally held on the 3rd Wednesday of each
month. We are always looking for new stimulating meeting topics
related to Objectivism.  Please contact WMOD if you have suggestions
for meeting topics and locations, or if you can volunteer some time to
arrange meetings.

                EMAIL LISTS

Objectivism-L is a high quality moderated discussion list. To subscribe
or unsubscribe, send a message to "listproc@cornell.edu" that says either 
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                 DC Metro Calendar

    Washington Philosophic Discussion Group
    (meeting canceled 10/1 and 10/8, will resume 10/15)
The group meets every Thursday at 6:30 pm in the Borders Book Store Cafe
which is located in DC at the corner and L and 18th street NW
For more information, contact Jan Helfeld: (202) 833-3634 or JanHelfeld@aol.com.
The group welcomes anyone who enjoys rational discussion of philosophic issues.

    Washington Public Policy Discussion Group
    (meeting canceled 9/29 and 10/6, will resume 10/13)
The group meets every Tuesday at 6:30 pm in the Borders Book Store Cafe
which is located in DC at the corner and L and 18th street NW.
For more information, contact Jan Helfeld: (202) 833-3634 or JanHelfeld@aol.com.
The group welcomes anyone who enjoys rational discussion of public policy issues.

        Cato Institute Events
http://www.cato.org/events/calendar.html
*scholar Richard Epstein will speak at Cato on 10/14 about his new
book: "Principles for a Free Society"
*philosopher David Kelley will speak at Cato on 11/10 about his
new book: "A Life of One's Own: Individual Rights and the Welfare State" 

        Free-Market.Net Calendar
http://www.free-market.org/directory/events/

       Future of Freedom Foundation Events
http://www.fff.org/events/events.htm
         
       Institute for Humane Studies
http://osf1.gmu.edu/~ihs/index.html
   
(please let WMOD know about other events that we should list) 
                
               WMOD Contact Information

The WMOD newsletter is $10/yr, this email newsletter is free.

Contact:
  Dave Saum
  WMOD
  PO Box 8007
  Falls Church, VA 22041
    Email: DSaum at infiltec.com
    Phone: (703) 820-7696
    Fax: (703) 671-9350
    Web: http://www.infiltec.com/wmod.htm

----------- "Sapere aude" (dare to know) -------------------