Alumni Author Book Talk: Howard B. Adler, A&S '72

Surprised Again Book Image

Sponsored by the Office of Alumni Relations Lifelong Learning

Join former Treasury officials, Howard B. Adler, A&S '72 and Alex J. Pollock for a webinar presentation of their book Surprised Again! –The COVID Crisis and the New Market BubbleHoward and Alex will discuss the impacts of the Covid-19 pandemic and its aftermath on the economy with a special focus on Chapter 6 (Cryptocurrencies: An Assault on Central Banks or Their New Triumph?) and Chapter 12 (Central Banking to the Max). An opportunity for Q&A will follow the presentation.

For more information about the book, visit Pauldry Books, Amazon, Barnes & Noble, Target, Walmart, and other book sellers.

A zoom link will be sent to all registrants prior to the webinar.

 Surprised Again!―The COVID Crisis and the New Market Bubble: Pollock, Alex  J., Adler, Howard B.: 9781589881655: Books

About this Book

About every ten years, we are surprised by a financial crisis. In 2020, we were Surprised Again! by the financial panic of the spring triggered by the Covid-19 pandemic. Not one of the 30 official systemic risk studies developed in 2019 had even hinted at this financial crisis as a possibility, or at the frightening economic contraction which resulted from the political responses to control the virus. In response came the unprecedented government fiscal and monetary expansions and bailouts. Later 2020 brought a second big surprise: the appearance of an amazing boom in asset prices, including stocks, houses, and cryptocurrencies.

Alex J. Pollock and Howard B. Adler lived through this historic instability while serving as senior officials of the U.S. Department of the Treasury. Their book lays out the many elements of the panic and its aftermath, from the massive elastic currency operations which rode to the rescue by financing the bust with unprecedented government debt, to the consequent asset price boom, which included a renewed bubble in house prices financed by government guarantees. It considers key leveraged sectors such as commercial real estate, student loans, pension funds, banks, and the government itself. It reflects on how to understand these events both in retrospect and prospect.

Disclaimer: The perspectives and opinions expressed by the speaker(s) during this program are those of the speaker(s) and not, necessarily, those of Johns Hopkins University and the scheduling of any speaker at an alumni event or program does not constitute the University’s endorsement of the speaker’s perspectives and opinions.

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ABOUT Howard B. Adler (A&S '72)
Former Deputy Assistant Secretary of the Treasury for the Financial Stability Oversight Council

Howard B. Adler is an attorney and former government official. He served as Deputy Assistant Secretary of the Treasury for the Financial Stability Oversight Council, where his job was to monitor and remediate threats to the financial stability of the United States. The Secretary of the Treasury awarded him the Treasury Distinguished Service Award for his work. For over 30 years, he was a partner at the law firm of Gibson Dunn & Crutcher, LLP, where he was cohead of the firm’s corporate transactional practice. He received numerous professional accolades as a lawyer, including recognition by Chambers USA: America’s Leading Business Lawyers as a Senior Statesman  and Tier 1 mergers and acquisitions and private equity lawyer in Washington, D.C.; Best Lawyers in America for securities law and mergers and acquisitions; and Super Lawyers for mergers and acquisitions and securities/ capital markets law. Prior to Gibson Dunn, he was Executive Vice President and General Counsel of The Riggs National Bank of Washington, D.C. Mr. Adler received his B.A. from The Johns Hopkins University and his J.D. from New York University School of Law, where he was Note and Comment Editor of the Law Review. Mr. Adler has served as a member of the Board of Governing Trustees of American Ballet Theatre, Treasurer of the Washington D.C. Bar and Secretary of the Johns Hopkins Alumni Council.

ABOUT Alex Pollock
Former US Treasury Official

Alex J. Pollock is a Senior Fellow with the Mises Institute.  He was the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury 2019-2021; a distinguished senior fellow at the R Street Institute in Washington, DC 2015-2019, 2021; a resident fellow at the American Enterprise Institute 2004-2015; President and Chief Executive Officer of the Federal Home Loan Bank of Chicago 1991-2004; and a Visiting Scholar at the Federal Reserve Bank of St. Louis 1991.  Mr. Pollock focuses on financial policy issues, including financial cycles, government-sponsored enterprises, housing finance, banking, central banking, uncertainty and risk, retirement finance, corporate governance, and financial crises with their political responses. He is the author of Finance and Philosophy—Why We’re Always Surprised (2018), of Boom and Bust: Financial Cycles and Human Prosperity (2011), and co-author of Surprised Again!—The Covid Crisis and the New Market Bubble, as well as numerous articles and Congressional testimony. He previously served as a director of CME Group 2004-2019, and of Ascendium Education Group 1989-2019, and continues as a director of the Great Books Foundation, where he was Chairman of the Board 2006-2014. Mr. Pollock is a graduate of Williams College, the University of Chicago, and Princeton University. He and his wife, Anne, live in Lake Forest, Illinois.


 Event Date
Thursday, December 15, 2022
Start Time: 6:00pm EST
End Time: 7:00pm EST


Virtual via Zoom
Baltimore, MD 21218

Office of Alumni Relations
Brian Davis
Associate Director of Lifelong Learning

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