Morrison & Foerster LLP and Penn State's Dickinson Law School held a seminar on the securitization market and the proposed reforms in New York City on 5 May 2010. NERA Senior Vice President Dr. Faten Sabry and former Senior Vice President Dr. Chudozie Okongwu participated as speakers. Dr. Sabry and Dr. Okongwu addressed the current state of the structured products market and reviewed the various securitization reform proposals. More specifically, they addressed the impact of government programs like "TALF" on the market, assessed the consequences of the "originate to distribute" model for transferring risks, and examined the various proposed regulatory reforms including the House and Senate versions of the legislation, the FDIC safe harbor policies, and credit rating agency regulations. Finally, they addressed the impact of securitization on consumers� credit and market liquidity before and after the credit crisis, based on the findings of their securitization study,"Study of the Impact of Securitization on Consumers, Investors, Financial Institutions, and the Capital Markets." Professor Louis F. Del Duca, the Edward N. Polisher Distinguished Faculty Scholar and Professor of Law at Penn State, moderated the program. The seminar also examined the future of housing finance and the various modification efforts.