As millions of people in the U.S. slowly recover from the recent financial crisis, some are left wondering how this economic downturn came about.

John A. Allison IV, former Chairman of BB&T Corporation, will present the 2012 Burkett Miller Distinguished Lecture Series with the topic “The Financial Crisis: Causes and Consequences.”  This event is sponsored by The Scott L. Probasco, Jr. Chair of Free Enterprise.

The lecture will be on Monday, October 8, at noon in the University Center Auditorium at the University of Tennessee at Chattanooga. Admission is free; seating is limited and will be available on a first come, first served basis.

BB&T Corporation is the 10th largest financial services company in the U.S. Allison is recognized internationally for his leadership in opposing the federal government bailout of banks in the recent financial crisis. During his tenure as CEO, BB&T grew from $4.5 billion to $152 billion in assets. Allison is a frequent contributor to The Wall Street Journal and USA Today, and lectures frequently on university campuses.

Dr. J.R. Clark, who holds the Scott L. Probasco, Jr. Chair of Free Enterprise, encourages everyone, especially students, to attend Allison’s lecture to learn about the recent recession in order to prepare for their financial future.

“Only by realizing the risks inherent in both market solutions and government programs, can students make future financial decisions in their best interests,” Clark said.

In his lecture, Allison will provide an insider’s perspective on both the causes and consequences of the recent financial crisis and the recession that followed. His lecture will contrast government policy and market failure as contributing factors of the crisis and how the fundamental principles of “life, liberty, and the pursuit of happiness” may contribute to recovery and long-term economic vitality.

Dr. Bradley Hobbs will critique Allison’s presentation.  Hobbs is a Professor of Economics at Florida Gulf Coast University specializing in financial markets.  He is widely published in Entrepreneurship: Theory and Practice, The Journal of Accounting and Finance Research, Journal of Real Estate Research, Laissez-Faire, The Journal of Private Enterprise, and Research in Finance.  He currently serves as President of The Association of Private Enterprise Education, resides on the Research Advisory Council of the James Madison Institute, and is a member of The Mont Pélerin Society.

For more information on the speaker and speech, contact the Probasco Chair at (423) 425-4118.

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